Recently, I've had some issues with bankroll management. Although I've been gambling for years, sometimes I feel the urge to get more action because I'm not satisfied with my winnings. It's as if there's no tomorrow, and seizing the moment seems like the best option. However, whenever I become undisciplined, it usually doesn't end well. My realization is that no matter how good you are at choosing the right bets, without discipline in bankroll management, you'll still end up losing.
Could you please share some of your honest experiences here and how you became a disciplined gambler, particularly in managing your bankroll? What factors do you consider to be satisfied and to stick with the game plan all the time?
Bankroll management is the key to building our fortune in gambling, without it we are always going to struggle and be at risk to lose large sums of our money. For a few years I have some strict rules to try and preserve as much of my bankroll as possible. The first step each month for me is always to set a fixed limit on how much money I want to use for gambling. Splitting down my bankroll into smaller installments for each week to gamble with, gives me some freedom to decide how much time and money I want to spend, while also limiting the total amount I can use. The second step is to be happy about my winnings and take some of it out from the monthly gambling allowance. Like that I ensure that my bankroll is growing and I avoid the risk of losing all my winnings again. For me the key of bankroll management is to avoid going broke, because then is everything lost and we can not recover again. A good approach here is to use a percentage of my total balance each month for gambling. So, when my bankroll is growing over time I can use more money for gambling, and when I am losing I also have to cut down on my gambling sizes. In case you struggle with discipline, make an excel sheet where you write down your bankroll and how you are going to limit it. Only make transactions that fall within your limits and keep changing it over time with your bankroll.