Start Date: 3/24/08 @ $600
Current Balance: $965
Current Limit: 1/2 Limit Hold'em
Bankroll Status:
On a down swing this week. Nothing too crazy, lost $80 (-40BB) straight yesterday but was able to recover most of it today.
Lessons Learned:
This week was the first "dry run" I've had since starting. Premium hands not holding/hitting, Top Pair Top Kicker no good, sets getting flushed, blah blah blah you know how it goes. It kind reminded me of this one time I had at the Borgata where I bought into a 10/20 game for $800 and almost got felted. Shit wasn't holding up and I was down to $200 (-30BB).
During the entire time I was telling myself to remain in control because these swings are expected. Poker is afterall, gambling. Every time I got rivered or crushed by some donkey 2 pair or donkey gut shot, I took it as practice for the next time it happens. By consciously perceiving this situation as just practice for the next time, the (mental) blow was greatly softened. This technique turns downswings and dry runs into beneficial experiences which when repeated over time, has the potential to completely eliminate tilt. (By the way, that night at the Borgata I made all of it back +$200 by the end of the night)
Well, yesterday was that "next time" I was practicing for. I disregarded the fact that I'm playing micro stakes, because from a purely poker view points you have to see some pretty fucked up shit happen to swing -40BB in Limit. Proud to say I didn't tilt at all and the losses didn't effect my game at all (+1 for bankroll management!). The sessions were so rough that I just stopped playing and waited for today to try to make it back (I recovered $60).
On another note:
While spring cleaning today I took a look at old credit card statements and bills. I paid particular attention to the APR and finance charges that incurred over time and realized that I'm actually losing money by playing 1/2 limit! Even though my bankroll is growing, the time spent playing for $9/hr gets eating up by interest I'm paying on my credit cards, student loan and car loans.
Poker is a game of calculated odds and is a long term investment. The purpose is to make money and nothing else. So therefore I decided to stop playing poker until all my credit cards are paid off. Right now I've got approximately $2300 in credit card debt.
So today, I am cashing out my balance of $965 and using it ALL to take a whack at that $2300. Over the next 30 days I intend pay off the remaining $1300 in debt.
Once paid off, I re-deposit the $965 and get myself back on track.
I will post again once I'm debt free, should take no longer than a month.
Good Luck!
Sunday, April 20, 2008
Monday, April 14, 2008
Almost at $2/$4!
Start Date: 3/24/08 @ $600
Current Balance: $980
Current Limit: 1/2 Limit Hold'em
Bankroll Status:
More than half way to $1200, at which I can start playing $2/$4!
Lessons Learned:
1/2 Players are horrible. But as horrible as they are, it still takes an hour of good poker to make $10 at these stakes. I've also been brushing up on my math and have used these sessions as practice to calculate my odds at every street. It's well worth it.
Current Balance: $980
Current Limit: 1/2 Limit Hold'em
Bankroll Status:
More than half way to $1200, at which I can start playing $2/$4!
Lessons Learned:
1/2 Players are horrible. But as horrible as they are, it still takes an hour of good poker to make $10 at these stakes. I've also been brushing up on my math and have used these sessions as practice to calculate my odds at every street. It's well worth it.
Thursday, April 3, 2008
Quick Update
Project 20k
Objective: Turn $600 into $20,000. Limit Cash Games only, must have 300BB to play within a limit. Must start at 1/2. Doesn't matter how long it takes, but I can't play more than 20 hours in 1 week (so I can have a life other than poker lol).
Start Date: 3/24/08 @ $600
Current Balance: $787
Current Limit: 1/2 Limit Hold'em
Bankroll Status
I'm +$187 on my Cake account from playing 1/2 Limit Hold'em (6-Max & Full Ring) since I started. It's moving a lot quicker than I thought! Just need ~$400 more to move up to 2/4 Limit. I'm estimating I'll hit it by May first.
Lessons learned
The number of pots you win/lose in a session mean nothing other than short term variance. The only meaningful things at the poker table are: maximizing the number of decisions made that have +ev (positive expected value) , fully capitalizing on your opponents playing styles (individuals & table pace) and remaining in control of yourself.
If you take your game seriously, it doesn't matter what limits you play. It's funny how 1/2 can feel just like 10/20! When I lose a $30 pot, at 1/2, it sucks just as bad as losing a $300 pot at 10/20! I wouldn't go so far however as to say it feels the same as losing a $600 pot at 20/40 (Now that feeling is FAR WORSE, indicating that 20/40 was and still is, outside of my bankroll).
Have to go to work. Peace and good luck!
Objective: Turn $600 into $20,000. Limit Cash Games only, must have 300BB to play within a limit. Must start at 1/2. Doesn't matter how long it takes, but I can't play more than 20 hours in 1 week (so I can have a life other than poker lol).
Start Date: 3/24/08 @ $600
Current Balance: $787
Current Limit: 1/2 Limit Hold'em
Bankroll Status
I'm +$187 on my Cake account from playing 1/2 Limit Hold'em (6-Max & Full Ring) since I started. It's moving a lot quicker than I thought! Just need ~$400 more to move up to 2/4 Limit. I'm estimating I'll hit it by May first.
Lessons learned
The number of pots you win/lose in a session mean nothing other than short term variance. The only meaningful things at the poker table are: maximizing the number of decisions made that have +ev (positive expected value) , fully capitalizing on your opponents playing styles (individuals & table pace) and remaining in control of yourself.
If you take your game seriously, it doesn't matter what limits you play. It's funny how 1/2 can feel just like 10/20! When I lose a $30 pot, at 1/2, it sucks just as bad as losing a $300 pot at 10/20! I wouldn't go so far however as to say it feels the same as losing a $600 pot at 20/40 (Now that feeling is FAR WORSE, indicating that 20/40 was and still is, outside of my bankroll).
Have to go to work. Peace and good luck!
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