It is very important to manage your money while playing in any poker game and this is termed as bankroll management, or BRM for short.
The players who have expertise in managing their bankroll, and know how to use their money judiciously, have much better chances of success at poker and earning a steady income.
The first step is understanding your bankroll and devising the best strategy. Your style of play will be influenced by the size of your bankroll, so if you have a larger bankroll, then you can place larger bets to maximize profits when you expect to have the best hand, or be more willing to attempt a bluff if a good situation presents itself. But if you have a smaller bankroll, then it may make you play a little more conservatively, and as a result, miss out on some value as well as good bluffing opportunities.
This is very significant factor because even if you happen to be an excellent poker player, if you don’t follow this, there is a good chance that you may end up losing more than what you expected, and may even lose your entire bankroll.
The other thing that you should consider when it comes to bankroll management is having a “stop loss” limit and withdraw from the game in case you have reached that limit. Never try to chase your losses by playing more, as it will have an adverse effect on your bankroll, since you tend to play worse when playing stuck.