~ B A N K R O L L M A N A G E M E N T ~
Moving Up In Limits
Once you've been playing for a fair amount of time and have hopefully been seeing a steady increase in the size of your bankroll, you may start to think about making the move up to the next level. This might be moving from $5 tournaments to $10 tournaments, from $1/2 limit tables to $2/4 limit tables, from no-limit games with a $25 buy-in to those with a $50 buy-in, or a variety of other transitions. Regardless of the game type, you will often find that moving to the next level will double the limits that you were previously at. This essentially means that in order to make that move up, you should have at least doubled your initial bankroll and are capable of meeting the safe to moderate guidelines we previously discussed. This is, of course, assuming that you started playing at the upper level that your bankroll allowed, and were basically not playing the nickel-dime tables with a million dollar roll.
Another thing to consider when moving up in limits, aside from the financial aspect of it, is whether or not you're mentally prepared for the jump. If you have felt comfortable and competent at the tables and games you're currently playing, and have the long-term profits as proof of your capabilities, then by all means you should have no reservations about tackling the next highest species on the poker food chain. Do notice that we said "next highest" here, and we firmly suggest this. If you've just been dipping your hand in the fish bowl playing micro limit games, you wouldn't want to decide that you're now completely prepared to dive in with some man-eating sharks at the high stakes tables. Take it one level at a time, get the feel for each rung of the ladder that you gradually climb up, and always be ready to adjust your play to changes in the poker environment. If you feel at all as if you're hesitant, intimidated, or not ready for the more drastic swings in your bankroll, then drop back down to a level where you know you'll be playing your A-game.
Things to remember when moving up limits:
~ Make certain that your bankroll is more than adequate to handle the new level of play.
~ Also make certain that you're mentally ready to make the move up.
~ Don't assume that you'll have to play any different than you normally would at lower levels.
~ Be prepared for more drastic swings in your bankroll, and don't be ashamed to drop back down if you encounter a crippling run of bad luck.
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One more note on moving up in limits before we move on to the next topic - just remember that it is perfectly acceptable to reach a threshold in the games you play... a limit to the limits if you will. Say you work your way up from the $1/2 tables to the $5/10 tables, and have reached a point where you can consistently and comfortably profit, occasionally withdrawing a portion of your winnings to spend recreationally and feeling no obligation to move upwards in limits any further. This scenario is fine as long as you have no aspirations to be the next Phil Ivey or Sammy Farha, and it's very likely that many part-time players have voluntarily topped-out in their play. Again, just because you have the money to play in the big game doesn't mean you have to, so there is nothing wrong with putting a limit on your play.
~ Next: Managing Your Bankroll
~ Previous: Playing Within Your Limits
~ Summary: Bankroll Management Overview
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