Stop Loss in Poker
by Dougie Goguen | Dec 9 2011
Learn how to keep your bankroll under control with this look at Stop Loss.
In military terms, "Stop Loss" means not letting a member of your service branch separate or retire when their required term of service is up. In poker terms, however, it’s a great way for beginners to control their bankroll and keep more money in their pocket when they're close to tilting.
Use Bodog's online poker deposit bonus to get up to $1100 more in your bankroll!Your "Stop Loss" number acts as a predetermined amount that represents the absolute maximum you're OK with losing in any given day/week/month of playing poker. Let's say you set your stop loss amount to $300, meaning that you'll push away from the table and go do something besides playing poker if you lose that amount. It's important to remember that this does not mean when you are down by $300, but it means that if you sustain a $300 loss in the course of play, you'll walk away. For example: let's say you were up by $2,500 at a cash table. If you found yourself down to $2,200, you'd quit then and there. That keeps your profits profitable and your losses mitigated.
With a stop loss strategy in place, you can avoid tilting winnings that you've earned and you'll be able to play longer sessions when you're winning. You also play shorter sessions when you're losing and, frankly that's important for more than just fiscal reasons. Once you’ve enacted a governor on your game, you'll likely find that your attitude about poker improves massively. For players that have problems with losing at the poker table and subsequently tilting, it’s a great way to make sure they don't lose their cool very often.
Are there disadvantages to playing with a stop loss strategy in mind? Some players would argue so. They say that you may be forced to walk away just when games might be turning your way or that if you'll play fewer hours and end up profiting less, but in my opinion, hours spent at the table should be profitable ones whenever possible. Now, you may just want to use a stop loss strategy as a temporary "patch" on your game. Even the best stop loss strategy is not a cure for tilt, and if you're in it deep, it’s sometimes best just to ride it out.
Practice playing online poker free at Bodog today!In addition to stop loss strategy, there are some players who believe in stop wins, meaning that you have a preset amount that you will win from a game and then you’ll stop playing for that day. I’ve found that when I play and win, I play better and the cards generally stay warm for some length of time. Applying a stop-win philosophy is too close to thinking of poker as gambling for my taste: if you’re on a strong streak because of your skills, why not maximize it?
