I've always been torn by two opposing forces when managing my BR:
(1) I want to play games that seem "big enough" when I am eager to devote my full attention and play my best or just take a shot at a higher-stakes table that looks soft ... but ...
(2) Much of the time, my attention is half-ass or I'm clearing a bonus and just don't want to lose dough.
I was using a 2500xBB NL guideline, so with my BR at $6400 right now, my highest NL game is NL$1/2. The problem is that when I'm playing half-assed or bonus-whoring with 6 tables going, I sometimes get burned in these games or find myself playing far below my best. But I feel that playing lower stakes has opportunity costs since I could be playing higher according to my guidelines. Also, even if I'm playing pretty well, bad beats or tough hands happen, but I always feel sick when I lose a $200 buy-in (or even just $100) trying to clear a $100 bonus. This frustrates me so much as I feel I wasted my time unlocking the bonus.
On the other hand, I also hate when I'm really eager to play my best but am limited to playing up to only $200. In the past when I've been more liberal with guidelines (i.e., ignored them), my best runs were always when I took shots at higher games and played my best. Sure, you shouldn't play above your roll, but when I'm focused I just feel my play is so much sharper (also explains why I think I'm better live). When I have played live, I just take some cash (not from online BR) and have never lost it (bringing only 3 buy-ins), so I certainly don't have a 2500xBB rule for live play and have done fine.
Also, after reading DoubleAs blog, he says his regret while building up was playing too safe with his roll -- he advocates playing with up to 20% of your roll on the table. That is a recipe for total disaster if you are multi-tabling, surfing, watching a game, and browsing a forum simultaneously!
So, thinking about this last night, I had a "Eureka" moment -- and it is so stupidly simple. The solution is just to have 2 sets of guidelines: (1) your A-game rules, and (2) your B-game rules. (Yeah, I know, wasn't that tough, was it?)
Now every poker book you read will say "don't play unless you are playing your A-game" -- but that is flat-out horsecrap in today's online environment. You can multi-table 6 low stakes games and be playing well enough to at least break even (or even drop a few BB) but be making a decent hourly rate clearing bonuses and/or getting rake back. So, unlike a live game which most authors are used to, your B-game (I'll just call anything not totally focused your B-game) can still keep your roll building, pass the time, whatever. And face it, we're too addicted to not play even when we don't want to lock in.
I like the dual rules because it forces me to more explicitly (and honestly) decide what my purpose is each session. If I want to take a shot at a soft table and play my best -- I can (and without the uneasy feeling that I'm breaking my own rules), and if I am honest with myself and know I won't be playing my best, then I also am more comfortable because I know I won't be playing very high stakes. I know that if I take a loss playing my A-game rules, I can patiently build it back under my B-game rules relatively quickly with multi-tabling and bonuses.
Here's the guidelines I was generally using:
Old rules:
NL/PL (Holdem) -- 2500 big blinds
NL/PL (Omaha) -- 5000 big blinds
Limit (any) -- 500 big bets
Tourneys (MTT/SNG) -- 50 buy-ins
Alas, the long-awaited new rules (which are still very conservative, I think):
A-game rules:
NL/PL (Holdem) -- 1000 big blinds
NL/PL (Omaha) -- 2000 big blinds
Limit (any) -- 300 big bets
Tourneys (MTT/SNG) -- 50 buy-ins
B-game rules:
NL/PL (any) -- 5000 big blinds
Limit (any) -- 1000 big bets
As you can see, my A-game rules are "looser" than my old rules, whereas my B-game rules are significantly tighter. Tourneys don't change as one should be playing A-game for a tourney or why play it?
Look at what this means with my current $6400 playing roll. Under old rules, I could play up to NL$1/2 or limit $5/10. Under the new rules, my A-game allows up to NL$3/6 or limit $10/20. However, my passing-the-time multi-table B-game is restricted to NL$0.5/1 and limit $3/6. These are quite reasonable and certainly adequate stakes to clear bonuses relatively quickly still with less risk.
One thing I've noticed is that you find guidelines in posts/books etc. (like the 300 BB rule), but its not explicit how to apply them. When using these guidelines, I use the following principle: if you meet the guidelines, you can sit at a table with a full buy-in (100 BB for NL/PL, or 25 BBets for limit). If you drop below the criteria, you must move down. This allows the "taking shots effect" as you transition between limits. For example, with my $6400 roll, if I lose a full buy-in at NL$3/6 ($600), then I'm left with $5800. That is no longer 1000 BB at NL$3/6, so my max game is now NL$2/4. You get the idea.
I haven't read any recommendations like this before (besides "take a shot every now and again ..." without any details), and I'm sure many of us use a similar system implicitly anyway (like playing lower stakes when multi-tabling, etc.). But I like hard and fast rules to keep me in check.
Anyway, sorry for the super long post.