OK as promised, here are the details on my challenge:
First off the goal was to earn 5k$ in 2 weeks playing MTT SnGs, although the first idea I had was to earn 4k$ in 2 weeks. To make matters a bit more complicated I was playing 12$ 45 and 180 mans. Reasons for these challenge were:
-I needed the money but I didn't want to delve into my iron reserves
-I wanted to create a solid sample of MTT SnGs in order to figure out if it would be profitable to play them
-I wanted to explore the field that normally plays these games and determine if it would be a good idea to stick to MTTs or go back to STTs
-I hoped to gain experience for general late stage tournament play
-I hoped to hitch a great upswing and ride it all the way to heave ♦ (this one is a joke but hey :P)
The analysis showed that on average the field is about as tough as in the STT SnGs. The amount of bad irregular players compared to the amount of bad and good regulars does not greatly vary compared to the STTs. Also the latter stages of the MTTs turn into a STT type game where stealing the blinds and hoping the other guy(s) don't have hands they can call u with, meaning the it is hard to determine any kind of an edge. The prize structure is obviously different and the prizes are bigger but on the other hand an MTT lasts longer and u have to beat a bigger field in order to make it ITM. The real moneymakers are the the 1st and 2nd place, everything else isn't worth the bother because of the longevity of the MTT SnG. I've also concluded that a player has to be far more skilled in order to be successful at the MTT SnG. Postflop skills are not as important in the STT while advanced knowledge of the HU game is also greatly desired since the difference in 1st and 2nd place payout is almost 4BI. It is very easy to find urself in tricky situations where it's difficult to determine the best course of action since the math is more complex compared to the STTs (because of the payout structure and the larger field).
Now to actual results; the swings are absolutely horrible! In the past two weeks I've had three major swings, the last one occurred on saturday. These ranged between -45BI to -80BI and have had a huge effect on me. It is very difficult to say how I would've dealt with the downswings if I would not have had a bankroll that could've soaked up another 200+BI before I'd have to move down, but it is safe to say u can hop on one very harsh ride to busto-town without proper BRM (which is hard to determine). My own mission ended last night when the pokerstars software was experiencing glitches and lag which ultimately (along with me being sick and tired of poker) led me to ending my mission sooner then I wanted to (could've added another 40-60 games which could've made significant impact). When I woke up today and began looking at the results I realized that I had played just under 900 Games averaging just under 2.3$ per SnG. This puts me at under 50% of the target sum.
I have to say that I really enjoyed the first few days of this challenge. But as they first week turned into ten days and I started to feel the pressure of the deadline (hated deadlines like always) the enjoyment wasn't present as much and I will have to take a few days away from poker (already got a weekend planed with my GF ♦). I'm happy with the results but not overly happy with how the end product turned out ... I was sure I could make at least 4k$.
Thanks for reading, leave a comment if u feel like, they would be much appreciated. Good luck folks and cya next time