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4/1/05 - Manage to Stay Ahead Of The Game - Part II In the last column I discussed putting a money management system in place and I mostly talked about protecting your downside risk. Although, that’s the most important aspect to your discipline, managing your upside is a big part of it, as well. I remember a few years back, playing in Texas holdem cash games and feeling good about knowing that my downside would always be contained… but my results we’re mixed. So I thought a bit about my play and it occurred to me that I was often way ahead but would give most or all of my winnings back. I had put a system in place for managing my downside, in Texas Holdem poker, but now realized I had to put one in place to protect my profits. These days I give myself more leash on the upside because I don’t want to stifle my profit potential. I always have a working template in my mind for what I want to take home for the evening and at some point in the night I set that goal (this goes for casino and online play). Let’s take a look at what I think is a good way to play it… Play the Shark Cage or qualify for the World Poker Tour Today! Plus get a 50% Sign-Up Bonus up to $250! At the end of the day, what differentiates the minority that make money, from the majority that lose it, is a good money management system (this goes for most anything in life or business). Think about it, you could lose money on 8 of 10 stock trades, cutting your loses at 5% for each of the 8 losing trades and with the 2 winners make enough to turn a profit, overall. But if you let the losers drop precipitously, without having a sell discipline in place, it’s not going to matter what happens with your 2 winning trades. I apply these exact same principles to how I manage my poker bankroll. Let’s take a closer look at what I’m talking about… First, I hear people complain all the time about how they were ‘up big’ and gave it all back and then some. Secondly, I see it happen almost every time I play cards. Every time I play, I see players losing and going to get more money, more money, more money… the point is this, you can be the best card player in the world but if you manage your money poorly then your results will always be below average. Let’s say I start the night with $500 and an hour and a half later I’ve already doubled up and have $1100. Now I’m looking pretty good at this point and I can play a little more then before; but at the same time, I don’t want to be too reckless. I’m not thinking upside money management, just yet, because if I set a goal to leave with a minimum of $1000, then I might as well get up right now.   Click Here  to receive your 50% Bonus (Up to $250) Now! Instead, I’ll open my game up a little bit. Maybe play a few more hands then before; make a loose call against the right player if I think the implied odds are there. Here’s an example that actually took place last week. Just like in the above scenario, I was playing a $5-$5 No Limit Texas Holdem game and had doubled up with about $1200 in chips. A guy sat down at our table with about $750, I watched how he played for an hour or so. He was making pretty big pre-flop raises and betting extremely heavy on the flop (in relation to the size of the pot). So I started thinking about trying to get paid off and saw this player as a potential ‘target’ Then the following hand took place. I was seated in the big blind and we were playing with 7 players at the table. The player under the gun calls for $5, the next 2 players fold, and the ‘target player’ bets $100. Again, an oversized bet based on the size of the pot, which will work sometimes for a good player, but this guy was not that. So the other players fold and I decide to make a loose call in the big blind with 89h, subscribing to the philosophy of opening up my game a little bit because I’m up $700 at this point. The player who was under the gun also calls. So now we have 3 players and the pot is $300. The flop comes 8d8s10c. I check, the other player checks and the ‘target player’ bet $250. I go into Hollywood mode for a little bit, try and look like I’m making a move on him and then raise another $250 on top of his original bet. The other player folds and the ‘target player’ thinks for a moment or two, looks at me (I could feel the stare) as I won’t look at him, trying to look unsure of myself. He pushes All In and of course I call. I flip over my trip 8’s and he shows AK. Needless to say I won the hand and took his $750 + $100 from the other player. My stack was now at $2050 for the night. Now I start thinking upside money management. I’ve worked hard to get here and want to make sure I have something to show for it… Time to set some goals, but at the same time, keep enough in play that it doesn’t impact my play. I decide that if I dip below or around $1400 I’ll call it a night, therefore giving me plenty of money to continue playing with. Secondly, it puts a little added discipline back into my game, so I don’t bleed my money away, especially after showing the other players how I played that big hand. I ended up the night leaving with $2400. Regardless of that fact, I know exactly what I would have done if I started giving my money back. Very cut and dry and it allows me to relax, play my game and not have any thoughts about the money because I know exactly what I’m going to do. And believe me there have been plenty of nights where I got up and left once I hit my upside target. Although, a part of me still wants to play, I know I probably saved myself some money. In the past when I didn’t have an upside high water mark I often gave it all back and then some. Well, that doesn’t happen anymore. Having a good upside money management system, as well as downside, has really worked for me. It’s allowed me to just focus on playing Texas Holdem and has definitely impacted my bottom line. I hope it can do the same for you…   Click Here  to receive your 50% Bonus (Up to $250) Now! Good Luck!   Our Featured Online Poker Rooms Three reasons to play poker at our featured online sites: Titan Poker Excellent first deposit bonus up to $500. Clean up on beginner & novice players. Super cool looking 3D game layout called 'side view'. Go to TitanPoker Now! PokerRoom Single best online tool 'Tag the Fish' - color code your opponents. No Download required + works on MACs. Unique promotions and tournament events. Go to PokerRoom Now! Full Tilt Poker Play against the biggest names in poker i.e. Phil Ivey, "Jesus" Ferguson Superb weekly articles written by the pros. Impressive first deposit bonus up to $600 Go to FullTilt Now!     Click here to see our full review of the best online poker rooms.ms.   Attention: If you're a college student (over 18 years of age) currently attending college or university and enjoy playing Texas Holdem, we have a special marketing opportunity for you. Click Here if you'd like to find out more.     BACK to Clove's Column Main Directory of dates. .

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