Bankroll management is very important if you want to make a success at playing poker. Whether you play for fun or as a professional a good bankroll plan is essential. It doesn't matter if you are the best player in the world, if you don't practice good bankroll management you run the risk of going broke.

Why do I need bankroll management? Poker is definitely a skill game but unfortunately luck des play its part and things don't always go your way. You could get it in pre flop with your AA and get called by 72 only to see the flop come as 722. Now in that situation you would win about 88 of the time your aces won't hold up.

This part of the game where luck takes over means that even when you make the right decisions things may not go your way and you can find your bankroll dropping. This is where you need a plan to stop you going broke when luck is not going your way.

For no limit Hold'em it is recommended that you have at least 20 buy-ins for any level that you play at. So if you want to play 0.05c/0.10c games where the buy-in amount is $10 you should have at least $200 in your bankroll and for 0.50c/$1 games you should have a $2000 bankroll.

Now that you have 20 buy-ins for your level you need to move up and down limits in accordance with your bankroll. When you find yourself with about 20 buy-ins for the next level up you should take a shot at that level. But you should also be ready to move back down to the level below if you lose a couple of buy-ins. I play a 20-15 rule where if I hit 15 buy-ins for my current limit then I move down a level until I build my bankroll up again.

The 20 buy-in rule is just a guide but 20 is the recommended minimum buy-ins for any level. It is important that you use a bankroll strategy that makes you feel comfortable. The important thing is that you move up and down with your bankroll. Never play outside your bankroll and always move down if you lose a few buy-ins. If you do this correctly then you should never go broke.