So why do you need to follow proper bankroll management? Well, without it you could potentially lose all the money you deposit. Most new poker players make the same mistake, they deposit $100 onto an online poker site, maybe win a few hands but eventually lose it the same day or in a week, which shows complete disregard for good bankroll management.
One of the most important advantages of playing poker with proper bankroll management is that it will ensure you have a good mindset to play optimal poker, which will make you money.
How aggressively you should be with your bankroll will largely depend on how you deal with tilt and your poker ability. If you are confidently beating a limit but constantly needing to withdraw from your bankroll, then it would allow you to play more aggressively with your bankroll. Also, if you begin to play at a level which is less then your A game then there is the potential to drop a few buy ins in a relatively short period of time. Whenever I experience a big downswing in winnings its almost always usually a result of monkey tilt.
It is possible to avoid losing your entire poker bankroll if you follow a few simple rules.
Implement The Stop Loss Technique
This concept is relevant to cash game players and is a great way to minimize losses when you have losing sessions, which every player experiences. If you set a maximum loss amount that you are willing to lose, if you lose that much, then just QUIT. Now when I play if I have dropped 2 buy ins and I feel like I am no longer playing my best game or I am no longer in the mood for poker, then I will just quit the session, before I do something stupid and blow off a significant percentage of the bankroll.
Managing Your Bankroll
A factor which will determine how you manage your online poker bankroll is your reasons for playing poker. If you have no plan to move up in limits and content in grinding a small profit so you can just keep on withdrawing from the poker room, then you wouldn't need as many buy ins as say a player who is wanting to build a bankroll, and improve their game to eventually move up in limits.
Obviously alot of it depends on your financial situation, because i know some players need to be always withdrawing from the bankroll for cash flow. However, the best way to look at your online poker bankroll is to view it as an investment which you are not allowed to touch. If you are strict with your bankroll, playing solid poker will allow you to build your bankroll and move up in limits, which obviously means the potential for making a lot more money when you are good enough to beat the mid stakes cash games.
How many buy-ins do i need if I have $xxx ?
Generally speaking, I think that having 20-30 buy ins minimum is sufficient enough to be able to ride out the downswings, which can happen in poker due to variance even when you are playing good poker. So if playing 25nl then $750 would be a big enough online poker bankroll. If you are playing sit and goe tournaments, then the amount of the sng entry should not be more then 5% of your bankroll. I think this is being pretty conservative however if you decide to be multi-tabling cash games then its good to have a bigger bankroll when you experience losing sessions.
Winning online poker players know that patience and putting in the volume is necessary if you want to make money. All you should concerned with is making correct decisions at the table and playing your best game. Taking hits to your bankroll is a normal part of playing poker, and even good players can experience break even periods where they make no money. But don't let the lossing sessions affect your mindset or go on tilt, because losing your entire poker bankroll would be a critical mistake and will prevent you from playing in games when they are softer.
Find online poker strategy articles from winning low-mid stakes players at Poker Aussie. Check it out if you want to improve your game.