I spend a lot of time talking to a lot of people and the main topic is almost always bankroll management. I am reminded of the saying "the name of the game is to stay in the game" by Gordon Gecko from the movie Wall Street. That is what poker is about. As I speak to many of you the won thing that is most noticeable is that the people who hang around take a break when they are losing. The losers don't and they eventually go away for good.
It has been awhile since I HAD to win at poker. In fact just yesterday I was thinking that it must be odd to many of you on here because if you look at my stats they aren't that great. Virtually everywhere I am about break even. Mostly that is the case because the limits I can beat don't interest me. I don't play poker for profit any more, I play it for fun. It is certainly fun to win and last year I did have a few decent runs at Omaha which provided for some pretty decent profits. But if I had lost it wouldn't have mattered to me.
Every decision that I make related to my play is about doing the right thing as often as possible. I don't run very sophisticated stats analysis or anything like that. I review my play once I am done and that's enough for me. If I had to grind things out I would be a bit more serious about studying my opponents but I don't need to do that.
So in a very real sense I am in the same boat as most of you are. I am still learning but it mostly a hobby, when I make money I like it, when I don't it bugs me. The difference though is that I never put myself in a position where I hit the felt. For many of you the difference between the felt and where your bankroll sits now isn't that big of a difference. That doesn't mean it shouldn't be treated as such. The people that do that stay around, the people that don't still think about how they just got unlucky. Where they got unlucky is in the fact that they had little self control.
Online poker affords you the chance to move up and down depending on what your bankroll is but almost no one does it. Everyone is looking for the brass ring, the next score or the lottery. To hang around though requires a mental toughness that few people have. I don't care who it is, we all started low, I started with $300 and turned that into over a million in about a year. So it can happen but you will never get there if you are on the rail. So the difference between winners and losers is that losers allow themselves to go broke.