Lost it all!

[dasaint 10]

Unemployed just now, so deposited 40 pounds on Betfair to play some poker while im job seeking! This was last Thursday, got it up to 255 pounds by Monday playing 10 pound sit'ngo's, but I've lost it all now. Playing the same tables, some unbelievble bad luck and some bad play. I think sometimes I get a bit to comfortable or confident and do some stupid moves! Anyone else had any similar experiences? Also, do you think mtts are more profitable?
I think I'll take a break and read a poker book to try and get the basics back!

[GotaFancy?]

MTT's hold bigger swings than STTs - so they are not necessarily the answer you are looking for.

Assuming you are a winning player, then it's just a question of "bankroll management" - how about playing STT's to a MAXIMUM of 5% of your bankroll - as your bankroll falls, then you move down the levels - as you win, you can play for higher stakes. If you lose your bankroll playing this way you need to rethink your poker strategy. I don't know how low Betfair go, but Blue Square go down as far as $0.10 STT's.

Have a think about playing in the PL Leaderboard games - only $1 or $2 to enter, but there is a lot of added value (paid out to the leaderboard winners) - problem with these is that the standard is higher than you would expect at buy ins at this level. And keep an eye on the diary published in here daily - plenty of great value freerolls with sometimes big prizes - a great way to practice and try things.

And reading i a great way of improving - especially if you have a little time on your hands to take advantage of it now....

[dasaint 10]

Cheers for the advice. Read a few websites and 5-10 percent of Bankroll seems the way to go!

[6ooner]

But if you're having such bad luck could you please keep me informed of any future tournaments you may be playing

[lemonjon]

hahahahahaha

nothing like shi*tting on a man when he's down 6ooner

[daftpegasus]

In the first instance take the positives from this:

• You must be doing somethings right in order to turn £40 into £255 playing £10 STT's in 4 days.
• Most of the top professional players have gone broke on numerous occasions.

Gaf's advice is excellent, the only thing I want to add to it is - when you're up, withdraw some cash!!!

Last year I made a load of money on the horses and then lost the lot (plus more) inside 3 days. This year, whenever I hit a certain limit I withdraw some of the cash, and start again targeting that same limit.

Take a break from it and come back with some renewed energy and a fiscal management plan.

[dasaint 10]

Yup, thats what im going to do, think I'll take money out when I double it from now on. Im not sure about mtts because they would take so long, plus when you see an early chip leader with a massive amount of chips it makes it seem pretty hard to catch them. Only played massive freeroles though.

[BDaveG]

Originally Posted by 6ooner

But if you're having such bad luck could you please keep me informed of any future tournaments you may be playing

Scandalous