Texas Holdem Poker

One common problem that Holdem Poker players experience is not being able to get away from the table when they are in a losing session. Players will leave a table early to preserve a win but will stick around for hours to try and chase lost money. As a result they end up losing more money than was necessary for a session.

Recently a friend of mine was having this problem and one solution that I suggested to him to help to keep losses down is to institute a stop loss. A stop loss is a system that a poker player sets up to limit the amount of money the player loses in a day. The way it works is simple. If you reach the limit that you set, you leave the game or quit for the day.

Stop losses come in two types. The first is a session stop loss. This sets a limit for the player for each individual session. Let’s say you play No Limit and you set a stop loss at 3 buy-ins per session. If you lose, you leave the game. This is a simple plan but it does come with a potential pitfall. Let’s say that you play a session and go on a bad streak and leave the session. You could just as easily buy-in to another table or at a later time in the day.

The type of stop loss that I personally recommend is a daily stop loss. This type of stop loss sets a limit relative to the limits that you are playing. If you reach your stop loss for the day, you are done for the day. For example, many players will set their stop loss at 30 big bets. If you are playing $5-$10 Limit Holdem, 30 big bets is $300. If you lose $300 in a day, you leave the game and come back another day. The main reason that most stop losses are 30 big bets is that it is very hard to win more than 30 big bets in a day in a typical Limit game. Five buy-ins to a NL game is about the equivalent.

Stop losses are great tools, but a player must have the discipline to follow their stop loss regardless of the game. There are some players that will stay in a “good game” and lose more money just because the game is good. Seldom will you be able to recover 30 big bets or 5 buy-ins in a single session once it is lost. What you risk is putting yourself further in the red.

A big key to managing ones bankroll is to keep loses at a minimum. Tools such as the stop loss will allow you to get away from a game when you are running bad. This in turn will help to preserve your bankroll and allow you to come back and fight another day. Good luck to you at the tables.