Learn Texas Holdem

It's difficult to know when to get up and walk away from the poker table. Do you quit when you are winning? What if you are cutting off an extended losing streak? Do you quit when you are losing? What if your luck is about to change so that you can get even? One method for controlling your sessions is the stop loss strategy?

What Is a Stop Loss Strategy?

A stop loss number is a preset amount that determines when you will stop playing for the day. If you set a stop loss of $200, you will quit whenever you lose $200. Note, this does not mean whenever you are down $200. It means that at any time during your session if you sustain a $200 loss, you will quit.

If you are up $1,000 at some point and get down to $800, time to quit. If you were up $100 and are now down $100, the session is over.

What Is the Advantage to a Stop Loss Strategy?

A stop loss strategy allows you to take advantage of winning streaks while not letting yourself suffer too many damages from a losing streak. It gives you an excuse to get away from the table before you have been sitting there too long.

How Does One Set a Stop Loss Number?

This will vary according to the individual but be sure to set a stop loss number that is reasonable. In a $3 and $5 blind no limit hold'em game in which players will be buying in for a minimum of $200, a $200 stop loss does not make that much sense. On the other hand, a $1,000 stop loss in a $1/$2 fixed limit seven-card stud game is a bit superfluous.