How do you usually maintain your starter from the refrigerator?

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My starter rises beautifully within an 8-12 hr period and even deflates within 24 hours. Since I started storing it in the refrigerator, I've noticed it deflates within just two days without doubling (picture on day 3 after feed) as it would outside. Is that normal? I usually feed at 1:2:2 every 24hrs when outside and because it deflates so quickly in the refrigerator, I have to feed it every 3 days instead of once a week as I had hoped.

I keep mine at a 66% hydration (66g water to 100 g rye flour) so that it can sit for a few months in the fridge without feeding. To bake, I take 10 grams out of the fridge and feed it 10 g water and 10 g flour. I feed again about 12 hours later 20 g water and 20 g rye flour. 12 hours later or so, I do my final build which is all of the previous builds with 50 g rye flour, 200 g white flour and 200 or 250 g water which will give me an 80% or 100% hydration levain depending on the recipe I use. This gives me enough levain for 4 loaves. 

I didn't invent this method. A Fresh Loafian did. Do a search for Dabrownman and his No Fuss no Muss starter. Hope this helps!

My starter lives/sleeps in the refrigerator but is maintained at room temperature. If you feed your starter and put it straight back into the refrigerator it won't rise much. I just take a little off each time to build levains and when it runs low i'll take it out and give it some TLC at room temperature, to top it up, and then return it to the refrigerator where it can stay for quite a long time between feeds.

in the refrigerator, doesn't mean it is to be fed.  Yes it is normal.  The gluten in the starter can often be destroyed buy time and acid and the dough is cold and stiff and not very extendable.   Don't rely on height or smell when the starter is cold.  

After feeding, let it rise a little to make sure the yeast have a good start... Then chill for several weeks while you take out a spoonful or two to build starter in advance of recipes.

I usually feed, put a rubberband on the edge and leave it in a closed oven, once I see it rise above the rubberband a little, I put another rubberband to mark the edge and put in the refrigerator. Over the next few days I watch it rise and when it looks like its deflating (above pic) I bring it out, feed and repeat.

Now if I understood your comments correctly, what I need to do once I have a mature starter is feed at around 66% hydration and immidietely put it in the refrigerator so it sleeps and doesn't need frequent feeds?

I'm trying to fit in a schedule for baking once or twice a week (to keep testing my starter and trying my hand at sd baking) where I can keep my starter developing slowly (probably feed it once a week without causing any harm) while minimizing discard.

My starter turns one month this weekend. Can I leave it in the refrigerator without a feed for a few weeks?

Allow my 50% hydration starter to grow by about 1/3rd ish before refrigerating. Like to give the yeasts some room temperature time before they go to sleep in the fridge where it can stay for weeks. 

When taking some off to build it depends on how close to this feed if I do one or two levain builds. If it's been a while then a levain will benefit from a bit more tlc. 

When the starter runs low then treat it the same. Give it a feed or two, allow it to grow by a 1/3rd ish on the final build and back into fridge it goes. 

See how your starter reacts to judge how many feeds it and a levain needs. 

A starter is basically a petri dish for the culture. Doubling and falling, while they are good indicators, doesn't mean it's not doing its job. Different flours and hydration will effect it's behavior. 

Your answer to this question affects how best to maintain your starter. For instance, if you want to bake every two days and use starter straight out of your fridge into your final dough, you'll probably want to maintain it differently from baking once every couple of weeks and using your starter to build a levain. 

But Use starter straight out of the fridge, that sounds so great. When and how can I do that (my young starter will complete 1 month in 2 days).

I recently took a small part from the fridge, and let it warm up for 1 day outside and baked another loaf which was certainly not as good as the first. The structure was much like bread with lots of tiny holes and all but hardly any oven spring and a super dense bread! I don't think it was the starter that was a problem but what if it was?

A few things...

When Arjon said use straight from the fridge I think what was meant was if you have built up some starter, allowed it to mature and then refrigerated then you can take it out of the fridge and use it in your bread. Doesn't need 24 hours at room temperature. An hour will be fine and use warm water in your recipe. Leaving it out for 24 hours it'll carry on fermenting and will be past its optimal time to use and might not be as vigorous.

If you keep a small amount of starter in the fridge and wish to use it then take some off and do a levain build before using. Feed it, wait till it's peaked and then use.

If you bake at least once a week, you can probably choose a starter maintenance method that will let you use it out of the fridge without making a levain. And doing so doesn't require keeping a large amount; e.g. I use 100-120 gm for most bakes, and I keep 150 gm, which takes up less than half of a ~450 ml jar.

That said, you may find you prefer the results when you use recipes / methods that include making a levain each time you bake. My main point is that there's no universally best maintenance method, so choose one that fits how you (want to) bake.  

my starter is 100% hydration, meaning equal weights of flour and water. So, when I take out 120 gm, I replace it with 60 gm flour plus 60 gm water, or 50 gm of each when I use 100 gm of starter.

I use 120 gm most of the time anyway, but if I use 100 gm a few times in a row, I make sure to use 120 gm once or twice to give the starter proportionally more of a feed. 

I have one more question, how often would you feed a 1 month old starter thats yeasty and rises well?

I'm currently maintaining a part of my starter in the refrigerator  (fed four days back) and part outside (not fed for 36 hours but still rising and bubbling), I stir and smell it occassionally to see how far it can go without a feed.

If you refrigerate your starter when it has peaked it won't be able to go too long between feeds. But you may take some off and use straight into your dough. I'd say... within a few days.

If, like me, you only build a small amount of starter and refrigerate before it has peaked it can go for longer but you will have to build a levain so it's peaked and vigorous when used.

If your room temperature starter looks still active then all sounds good. Use it in your bread. If it's fallen and gone quiet it'll need another feed. Those who keep their starter at room temperature typically feed it and use it everyday (or near enough). Those who bake less often, or find it easier to manage this way, keep their starter in the fridge and build a levain or take it out and feed it to take some off and use.

If you find you have built too much levain then the leftover can always be refrigerated and used within a few days.

So you see there is flexibility and you need to find what best suits your baking needs.

Always watch the dough and not the clock. If you use a fresh fed and peaked starter it may be quicker than one which had peaked and was refrigerated a few days back.

Learn to adjust according to how your starter is behaving.

My pleasure! There is no exact science. Everyone will have their own method of maintenance and use. Only way to find what suits you is to bake with and try a few different ways. You'll soon find one that you like best.