Some players don’t do Bankroll Management at all and on the flipside, some others approach it way to rigidly. Check out five big mistakes the experienced players make.
There is a standard BRM
There is no exact amount of buy-ins you should have in your bankroll at any given time. However, it's important to consider that the higher you play in terms of stakes, the larger your safety net will likely need to be. This is because your opponents become stronger and therefore the variance becomes bigger. You can take more risks at the lower stakes.
Your bankroll is only the money you have in your account
True if you're a professional poker player. However, if you consider poker more of a lucrative hobby and have other sources of income, you don’t have to play NL$5 for example, just because the immediate funds in your cashier don't support a higher limit you know you can beat. As long as you are comfortable with the losses you can take more risks as a recreational player.
The tighter your BRM, the better
True if you play at stakes where edges between players are very small. But if you're re-building your bankroll by grinding the micro stakes, your win rate is probably high enough to permit a much looser approach to bankroll management.
Stop-loss will help you lose less in a downswing
True if losing a certain amount of money affects your game in a bad way. However downswings don’t depend on time, they depend on the amount of hands you’ve played. A stop-loss just spreads out your downswing, it doesn’t make it shorter.
Your bankroll should cover the most brutal of possible downswings
Not true at all. If your friend loses 100 buy-ins at your limit, it doesn’t mean that you also need to fear such a disaster. Is journeying by plane prohibitively dangerous just because there are a few crashes every year?