Wednesday 15 December 2010

Live Poker and the "Stop-loss Rule"

In my last few posts, before my phd post, I wittered on a bit about a BRM strategy for my online poker game in 2011. I didn't mention any sort of BRM strategy for my live game. Well, there should be something in place to keep things in order and under some kind of control: put simply, if I lose any more than £1000 within two monthly increments then I'll just stop playing live poker until the end of that time frame. When the 2-month time frame ends, the stoploss balance gets reset to zero and I start again. I'll just spell it out here to make it clear...

From Jan to Feb --- Stop playing if down £1000 ---Start playing from 1st March
From Mar to Apr --- Stop playing if down £1000 ---Start playing from 1st May
From May to Jun--- Stop playing if down £1000 ---Start playing from 1st July
From Jul to Aug----Stop playing if down £1000 ---Start playing from 1st September
From Sep to Oct---Stop playing if down £1000 ---Start playing from 1st November
From Nov to Dec---Stop playing if down £1000 ---Start playing from new year 

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The difference between professional poker players and mere amateurs is that professionals do not constrain themselves within these restrictions because they know they are likely to win the money back in the long term. Amateurs, like myself, need time to recover so I will be operating within these boundaries.

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