Bankroll Management

By doing some research online, I started to enlighten myself of BRM. One of the best examples that I could find on the subject were from the professional player, Chris "Jesus" Ferguson. His first goal was to turn $0 into $10,000.00 by following strict rules. These included not buying into a cash game or SnG with more than 5% of his bankroll, not buying into a Multi-Table Tournament (MTT) with more than 2% of his bankroll, and if at any point he has more than 10% of his bankroll in a cash game he will leave. You can find more detailed information (and his progress) on this subject here. These rule are a great way to build and sustain your bankroll during "unlucky" periods. To be sucessful over a long period of time, and to account for variation, needs a lot of patience and time. Making money fast by gambling too high for your bankroll will ultimately result in losing it all.

Past Lessons Learned

A couple years back I deposited $50 on Ultimate Bet, with my goal being to start making money from poker online. I used this money to play $10 SnG's and 10NL cash and ended up losing it all in about a month. From day one, I started losing and could never break even. I thought of my self as a decent poker player, and did not understand how I lost it all. I could not figure out the missing key of my game, and since then I have been trying to improve. I realised that I could not suceed with out Bankroll Management (BRM).