This post was originally meant to be posted in the Spanish forum, but by mistake (or maybe destiny ,
who knows) it ended up here as well. So I will translate it into english. Hope you find it interesting 
and of course, excuse my english and PLEASE let me know any mistake i made on it so I make the correction.
Cheers,
Astier
(moderator of the Spanish forum)
Hi my friends.
Let me tell you I am not posting too often on the forum becasue I am playing a lot and begining to participate on cash tables, for this purposse i am developing a bankroll managment poryect (it is still on developing phase).
Before I post this preliminar version i´ll tell you some of the sources I use to develop my proyect:
Bankroll managment or money managment recomendations
Money managment, aso known as "risk managment", is on of the key factors to assure the surviving on all games in order to be able to use the skills or playing strategy each player has and still be there on the long term. Not paying attention to bankroll managment basic rules, means to put in danger our investment.
Why? Easy, A player, his wise moves and mistakes and therefore his bankroll are continuosly going up and down and from time to time they suffer sudden movements in one or another sense, this movements could lead to huge losts to this player in the wrong side. This could be lethal, unless you have taken precautions.
Given this movements are not some strange event on any game with gambling involved but are inherent to it´s nature, their consecuences you shouldn´t blame bad luck but only to the lack of precautions.
Precisely, what a good bankroll managment is after is to avoid a palyer to enter bankrupt for a bad luck movement
If any player has a way to play that gives him an average advantage and wins more than he losses, a good bankroll managment will allow him to earn money in a regular and safe basis, avoiding that a bad movement of the variance could live him out of the game (when i say him, you could read her as well, is just don´t feel like writing him/her everytime, sorry girls )
If the player uses a wrong strategy and makes too many mistakes (more mistakes than wise movements), good bankroll managment will make him loose his investment slower, but he will loose it anyway.
Next, we will see wich are the basic rules for money managment to any wise player.
1-)Plan you strategies before even start playing, specially on what we will do when things go wrong.
It is very common to focus en positive aspects of gambling and ignore risk you are assuming. But don´t we forget this a game of chances and there are no certainties until the las card was shown. For that, we have to plan strategies not only to win, but to plan defenses that allow us to run alive when things go wrong. That´s why we need to think first on what are we going to do when things go different as we planned.
2-) Have a limit in the money we are willing to loose.
This is a quite basic rule and shouldn´t be too extensive to explain, but unfortunately, there are many people who thinks gambling is a kind of lifeguard who go when they need money for anything.
Too many times, these people risk money they can´t afford to loose, and too often it dosen´t work too good. You should know wich percentage of your bankroll you are willing to risk on each session.
No matter how good you are playing póker, you can´t guarantee you are going to win every single session. You can say you are going to win more times than you loose and this is enough to make you win money as long as you protect yourself against loosing it all in one bad move. So, you must decide which percentage of your bankroll are you willing to risk in each session and stick to this choice.
4-) Make big bets only when you have a potencial expectation big and a potencial risk low. You must look for these kind of situation to make a big bet. And make it only when you potential benefit is big and your potential risk low comparing each other.
If we make bigger bets when our overall balance is positive we will notice that in some moves ofsome sessions this bets are helping to maximise winnings and minimize looses.
5-) Adjust our bets size according to our succes probabilities. Making sure we have an average big benefit and an average small loose.
We have to be able to vary our bets size, adaoting to circumstances, this is pretty important in order to have a succesfull play and it is good not only to lower the risk on downswins but also to upper the benefits on upswings.
Although one of the prior elements on the risk control is to limt the investment we ar willing to risk on every session until we reach a low level in reference to the money available, there are some moments when you can tell there is a certian chance for a session to be a great opportunity to raise the benefits withouth this meaning a huge damage to our bankroll in case we loose, it could be convenient to push a little harder than ussual and bet a little bigger.
If once the session is developing, it turns to be not so good, the player could reduce the bet and acept a small loose. But if lady luck is with him, the player couls be more aggresive and try tomaximize winnings but being careful to see when it starts to go down.
You must focus on maximizing benefits, instead of winning sessions.
Some market investors made an estimate telling that near 90% of their benefits came from only a 5% of the their investment, tha´s why is so important to maximize winnings.
You can get this in two ways:
* By raising the size of your bet when you notice the ratio Benefit/risk is on your favor
*Keeping this bet size long enough to take advantage of the whole potential.
6-) Do not start a session if you are not capable of fixing a “logical” level of looses.
Of all the elements needed to succes, one of the most important is risk control. Many players can estimate how much money they can win, good players think on how many money they can loose and according to that, they decide wether is whortly to bet or not.
7-) Reduce bet sizes after a big loose or a big winning.
After closing a loosing session, is advisable to reduce you bets level. Let´s not forget that stopping or minimizing big looses is on of the keys for a winning play.
Now, it is also advisable to reduce your bet sizes after having a big winning session, it can be harder, of course, but crucial. For some reason, you often can see many players to have hughes looses rigth after they had big winnings
Taken, modified and adapted to gambling games from:
Samer Souffi, “Los mercados de futuros y opciones” (Future markets and options). Ed Pirámide.
Thanks,
Best regards.
Carlos.
. Now at least I understand 
