There are a variety of skills that you will need to be able to effectively manage your bank roll and these skills are maths, a good understanding of the game, the dedication required to be able to lower your playing levels if you have to and a certain degree of emotional control.
The first topic we will discuss is the maths skills which you should have. A good level of basic maths is needed for you to understand how much of your bank roll you are using per game. So you should know how a percentage works against your bank balance. You are advised never to play more than 10% of you bank roll in any one game of poker as this can effectively clean you out if you play more.
An example of this is that if you have a bank roll of $200 then you should only play $20 per game. This will limit the tables in which you can play on to 1.00/2.00 limit hold’em games and $10 or $20 sit and go tournaments.
You should also have the humility to play at a lower level so that you are able to get a greater bank roll overall. Even if the players are not as skilled as you there is no harm in playing lower stake games just to increase your bank roll as this is a good way to progress up to the higher stake tables.
Of course when you do this you can find yourself being beaten by the players in the next level up so you might want to keep this mind before jumping out of your depth.
You must be able to care for your bank roll in this way and it also provides you with experience. You will never succeed if you do not care for your bank roll and this is one of the keys to the success in the game of Hold’em.
By following this rule you have to show a certain form of dedication to yourself and the game. If you think you will be a millionaire overnight then you are sorely mistaken. It will provide you with a test of whether you can control yourself and this is an art in itself.
You must always be able to control your anger as this too can lead to you making rash decisions and usually going out of your depth in terms of your bank roll. People become so emotionally charged when they lose that they think that if they play for double their original stakes then they will win back what they have just lost. This is how you become penniless.
By simply improving your game and following these simple but highly effective rules then you are able to get your bank roll up slowly but surely. By managing your bank roll and not losing your head you will be able to enjoy winning and not have to worry about how you will pay back all the debt you have racked up by not doing so. Enjoy the game, enjoy the rewards.