INTRODUCTION When we start out on our poker career, we usually make an initial deposit and this is really our bankroll because we do not know if poker is the game for us.
We spend a lot of time growing this bankroll, and 95% of players who make early profits rarely cash out and either continue to do well or eventually lose it all and reload with a 'new' bankroll.
The new players, as well as the established guys who have built a reasonable bankroll, should always cash out on a regular basis and keep a declining % of their funds online - from the initial 100% with the first deposit down to 50% when 100% profit is reached and falling to 10% - 25% with an established bankroll.
There are a number of reasons for this process:

• Do not put all your eggs in one basket because if a site goes bust you do not want to lose all your money.
  
• If you cash out small amounts on a regular basis, you reach the point of only having profits online and the initial bankroll safely tucked away out of harms way.
  
• The higher % of bankroll you have online, the greater the risk of MAJOR tilt losses.
  It is harder to tilt when you have to THINK before you deposit more money and so easy just to click 'add funds' at the table when you are losing and playing badly.
  
• The higher % of bankroll you have online, the greater the risk of indiscipline - playing above your limit, playing too many tables, playing to long or different games where you are less skilled.
  Plan ahead, decide the level of bankroll you need for the week and stick to it.
  
• If you lose all your online funds and need to make a deposit from your reserves, you are more inclined to THINK and REVIEW before making the deposit - do I have leaks, are my opponents too strong, do I need a break etc.
  
• You have more choice in deciding WHERE to play and HOW MUCH to play with.
  Once money is on a site, the level of flexibility is considerably reduced as it is easier to play instead of plan.
  
• You will feel better and be more focused when you are playing with only profits earned and not a mixture of initial bankroll plus profits earned ALL online, because the level of immediate risk is reduced.
  

There are many more reasons for making regular cash-outs, including understanding the various types of bankroll and having a bankroll strategy, but the key element for success is the ability to RINGFENCE profits.
RINGFENCE GUIDELINES

1. If you lose your initial deposit, write it off as a cost of training and start a NEW bankroll.
   It is very important NOT to try and recoup initial losses as part of your first bankroll.
   It is gone, finished, forgotten and you must learn from your mistakes and play better when you start again.
   
2. A poker career only moves from a status of 'new student' with a 'Bankroll Investment' to a proper bankroll when you become a consistent, profitable player who cashes out on a regular basis and starts to play with the profits.
   
3. RINGFENCE your bankroll from the start.
   When you become a profitable player and your bankroll grows, you will have an urge to play at higher levels and earn money faster, but in early poker life this is NOT a good idea.
   The goal is to build an untouchable reserve that also forces you to grow the active bankroll at a slower pace, allowing you to develop poker skills playing more hands at lower levels to build solid experience.
   
4. The initial Bankroll Target is $250 profit or double your initial deposit, whichever is the higher amount.
   When the target is reached, remove $250 or the initial deposit if it was higher than $250.
   You will now be forced to start over again with the initial deposit you made but the difference is you are now playing with PROFITS.
   
5. The next stage is to remove 50% of every $1 increase in profit earned at regular intervals of $100 until your active bankroll reaches $1000, by which time a total of $1000 will have been removed and placed in reserve.
   
6. The process of 50% ringfencing now continues on a permanent basis for every $250 increase in profit up to an active bankroll of $2500, $500 up to $5000, $1000 up to $10000, always doubling the target increase each time a new level of bankroll is reached.
   
7. The profit withdrawn should be placed in a poker bank account, not mixed with your daily living expenses.
   

It requires a lot of self discipline but if you follow the policy of ringfencing 50% of your profits, you will always have enough solid poker experience at each level before you move up with the revised active bankroll because you are forced to grow at a slower pace.
Bankroll Management is all about planning, reducing risk, removing profit, reviewing status and eliminating the emotion of playing with 'scared' money to allow more focused and skilful poker to be played.
If you follow the above rules, you will not throw your money away.