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Do you have X amount of $ you want to cash out weekly? do you even cash out weekly?
every two weeks? once a month? what kind of goals do you set….
I play on FTP and ipoker network, comfortably bankrolled to play all the 26 gtds, can throw in the nightly 50$ 50k when feel im playing well with over 100buy ins for it. However i have cashed out money in the past (large sums after top 3 finishes in mtts which in turn dicapitated my bankroll)….but now i have a nice bankroll and learning lowstakes cash to keep building (50NL & 100NL) After learning the hardway, i am finally grasping the benifits of proper bankroll management. Im wondering how to go about paying myself. Recently shipped the 75$ 23k on ftp but i have still been hesistant to cash out.
Which is wiser? cash out now with a weekly/bi weekly strategy? or continue to build?
July 3, 2010
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50 nl and 100 nl are my reg cash games. I will keep about 40 buy ins online and cash out other money which sits in an interest bearing account. I choose not to keep much online. I know I'm properly rolled for anything I play regardless if the money is already online or not so I choose not to let it float out there where I cannot make my money work for me.
Someday this will change since my goal is to reach at least 2/4 nl 6 max if not much higher. But for now it's a good system.
I try not to cash very much out. If I have to pay some big bills, then I'll dip into my bankroll. But my plan is to build it up as much as possible. I have a goal set for the end of the year as to what I want my bankroll to be. I want to be prepared for some long downswings as well. Untill I can make decent cashes on a fairly reg. basis I'll avoid weekly/bi weekly withdrawls.
If you do decide to make weekly or bi-weekly cashouts for yourself, then I would suggest have a cutoff limit set for your roll. If your bankroll dips below a set amount then stop the cashouts, untill you can build it up some more. Once you start making the weekly/bi-weekly cashouts for yourself, you may become too dependant on them after a while, financially speaking and making it even more hard to quit when the time comes. In the end though, it all depends on what your comfortable with taking out and how regular you cash in games to keep replenishing your roll.
it depends on what you want out of your bankroll.
having something like 100-200 of your avg buyins for MTTs is suggested, and i think something like 20BI for cash (although i really don't know for sure).
it's going to be nearly impossible to have some sort of weekly or bi-weekly cashout strategy in MTTs because you can easily just lose and lose and lose for months. just keep in mind that if you're cashing money out, that you might have to drop down stakes or risk breaking your roll.
I don’t have one. Just depends on my bankroll and the stakes I’m playing. I have gone months where I haven’t cashed a thing, whereas I’ve also had months hwere I’ve had like ten cashouts.
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