Flash News
  • How much to to… It's very important to keep track of how much you tip. Depending how big of a winner you are in the game your tokes will…
  • 10 Good Times to… What does it means to float? The term floating in poker refers to calling a bet on the flop or turn with plans to take…
  • Poker Stereotypes Stereotypes often times hold some truth. The same is true in poker. Poker is a game of imperfect information. I try to use these stereotypes…
  • Some Basic Poker Math I do not claim to be an expert at poker math. The math aspect of my game is the absolutely worst part of my game.…
  • Mental game. What is the mental game?The mental game is many things. To sum it up it's how you handle all the non technical aspects of poker,…
  • Poker and Taxes Disclaimer: I am not an accountant or tax professional. All information I provide is my opinion based on my own research and experience. For the…
  • What To Do With… Managing your money and investing away from the table is important. How you handle and invest your money away from the table can have a…
  • Negatives of Dating a… Last week we discussed the positives of dating a professional poker player. If you are a first time reader be sure to check it out.…
  • The Pros of Dating… The Pros of Dating a Poker Player. Like most things in life, there are both positives and negatives when it comes to dating a professional…
  • Goal Setting vs Themes Setting and updating personal goals has been a huge part of my success. I find it helpful to use white boards as well as apps on…
  • Life Balance and Poker The profitable player who’s a guppy at life! Burnt out, depressed, over eating and poor diet habits, relationship/marital problems, lack of exercise, no goals, poor…
  • Positive Variance Last week we discussed negative variance, this week we will discuss positive variance. There is no such thing as luck in poker, only positive or…
  • Negative Variance What is variance? Variance is the downswings and upswings involved with playing poker. Variance is the difference between how much money you expect to win on…
  • Bankroll Management $16.67 balloons… I am often asked, “How much money is needed to begin playing poker professionally?”, “What is an adequate bankroll?" Poor bankroll management is the number…
  • Life Before Poker For as long as I can remember, I have always been a very competitive person. Growing up I participated in many different sports: basketball, football,…
  • Warm up and Cool… I first stumbled across the concept of warming up and cooling down in the book The Mental Game of Poker by Jared Tendler. Having a…
  • Technical concepts. The most important technical concept I have learned and used to much success is bet fold and raise fold. This is a concept that is…
  • Physical tells & betting…  I recently played a hand at 2-5 NL where physical tells, betting patterns and meta game played a factor into my decision. This decision led to me…
  • Exercise and Nutrition Exercise and nutrition both play a key role in your short-term and long-term success in poker. At my heaviest I weighed about 194 pounds, now…
  •  Cash Versus Tournaments People always seem to assume I play tournaments for a living when I tell them I play poker professionally. "When will I see you on…
  • Moving Up Stakes   As a professional player the ability to play in bigger games with higher stakes while sustaining a high win rate is the equivalent to…
  • What it Means to… "I'm a poker player. You just play poker" To me, a professional poker player is someone who earns a living playing poker as his or…
  • ThePokerProneur To all those whom I have never met on the felt or through everyday life, my name is James Ross. This is the first entry in what…
Facebook Twitter Google Plus Instagram YouTube Pinterest
Bankroll Management / Life Style

Life Balance and Poker

The profitable player who’s a guppy at life!

Burnt out, depressed, over eating and poor diet habits, relationship/marital problems, lack of exercise, no goals, poor financial literacy and poor bankroll management are just a few of the treacherous pitfalls I have seen bring some of the most skilled players to their knees.

 

This entry will examine some of the most common pitfalls I have seen many profitable players fall into: gambling, poor bankroll management, unsupported by spouse or partner and poor goal setting or no goals at all.

 

If you like to gamble then I would not recommend poker as a profession for you.You will be tempted to gamble in situations where you should be using math and logical rationale to make tough decisions. I know several people who are excellent poker players and yet always broke. These guys engage in sports betting, bet the ponies, play black jack and craps, anything they can place a wager on. Unfortunately I watch them gamble their bankroll away until there’s almost nothing left, sometimes they gamble it all away.

 

To piggy back off of gambling, there is a struggle for many players to manage their bankrolls appropriately. It is important to have a separate bankroll for poker that you only use for poker. I recommend keeping 3-9 months worth of personal expenses budgeted and separate from your roll. In the past I paid myself $22 per hour out of my bankroll no matter how I was performing at the tables. This allowed me to focus on putting in hours and detach myself from the swings. Currently my expenses are much lower so I no longer do this.

 

If you’re married or have a partner, it is very important for your partner to be supportive. If you don’t have their support it will make your journey to be a professional that much more difficult. This goes for any business you wish to pursue. A majority of successful entrepreneurs and business owners all share this trait. Poker can be stressful enough, a negative and non-supportive partner or unhealthy relationship will only sabotage any chance at personal growth.

 

You must treat your poker career like a business. Setting goals and or themes and adhering to them will increase your chances of being successful. I set goals on how many hours of study and play I plan to do each month as well as how many tournaments I plan to enter each year. It is important to have daily, monthly and yearly goals. I use my excel sheet to record these goals.

 

Every successful poker player I know is making their money work for them away from the table. It’s important to be financially literate. It is not a necessity to have multiple streams of income and low expenses but it definitely makes the game much less stressful and more enjoyable.

 

No matter your vice, it’s important to consistently improve. Don’t just work on your game, work on improving all aspects of your life. Don’t be the shark at the table who’s a fish at life.logo1

Next week we will examine goal and theme setting.

Goals will be shown on site and tracked.