Money Management Advice.....when things are going well

**pokernut9999** · 01-02-08, 08:18 PM

My rule of thumb is to take out what I put in. In other words if I deposited $500 and I get to $1000 I withdraw $500 . I never wanted to have to much in a site and make a mistake of going over my limit or raising my stake. Also would never feel safe having too much money in any offshore site at any given time.

As long as you deposit less than 10K in your checking account no one is going to say anything.

**chandler1981** · 01-02-08, 09:05 PM

I'm not trying to be a smart ass, but if you turn 2k into 20k every year, then cash it all out and start over each yr. If you gotta bet after the good run then bet 100 a game. I try to take out half after a big run. And when I have a bad run I try not to press and lay it all on a game or two.

**JimmyG** · 01-02-08, 09:23 PM

I always push when Im winning and back off when I'm losing..

A guy I use to work with use to tell me all the time "losing is contagious"...lol

Still to this day when I get going and things are goiing well I push the bets...when it starts to turn I dont jump ship but i back down.

Its a good way to keep your bankroll in tact and maximize when things are going well.

**stiff** · 01-02-08, 09:32 PM

Would any of you be worried about depositing a $6k check from an offshore book in a U.S. bank account?

I've seen a few (not many) posters claim that their bank account was frozen after depositing a large check from a book?

**Destroyer** · 01-02-08, 09:34 PM

Originally posted by stiff

I've been reading SBR for a few months but this is my first post.

With everything discussed in the forum I haven't seen a thread that gives thoughts on the best way to manage your bankroll once you've had some success.

Say in a normal month you win or lose or -$2k to $2k....you hit a hot streak and all of a sudden you're up $20k. What is the best way to proceed?

It seems I find myself in this situation once a year and inevitably I get about $5k pulled out before I squander the balance. Partially because I'm scared of the consequences of pulling it out and large sums and depositing say a $5k check in my bank account and partially because my tolerances on wager amounts get inflated and the the same recklessness that grew the bankroll catches up to me.

Any thoughts from posters that have success in this position?

It's good when you're running a hot streak, but when the inevitable losing streak occurs (it will happen no matter what anybody says), don't double down on your next bet to attempt to recover your losses. It's a receipe for disaster and will be detrimental to your bankroll.

The key is sustaining a bankroll that will allow you to continue betting and earning profits without going busto, which I've seen happen so often with a few of my friends that bet all-in after sustaining a few consecutive losses.

**pokernut9999** · 01-02-08, 09:34 PM

Originally posted by stiff

Would any of you be worried about depositing a $6k check from an offshore book in a U.S. bank account?

I've seen a few (not many) posters claim that their bank account was frozen after depositing a large check from a book?

All the checks I have seen are on US banks , why would they freeze an account?

**JimmyG** · 01-02-08, 09:36 PM

Ive havent had my account frozen but I had to answer questions about a check recieved.

Bank in Canada ...check was only for 4k

I had to fill out a form and then the check cleared.

I wouldnt be too concerned about your account getting frozen as long as your not involved in any shady dealings

Any check your sent I'm sure will be from a legitimate bank so I wouldnt be worried.

**stiff** · 01-02-08, 09:43 PM

Thanks for the feedback fellas.

Good luck to all

**Louisvillekid1** · 01-02-08, 10:16 PM

Money Management should be the same no matter if your winning or losing. . . Choose a plan you like and agree with and stick to it. . .