Career Update #3

    • WarGawd
      WarGawd
      Bronze
      Joined: 24.05.2007 Posts: 26
      It's been a few weeks since I've posted a progress report.

      After cashing out ~1/2 of my $800 BR to fund another site, I encountered some software problems with the new site's poker client. That turned out to be fortunate because...

      In the following 3 weeks I encountered a SEVERE downswing which almost eliminated my remaining $400 BR. I would get deep in my tourneys only to get sucked out on just around the money bubble or just after making the FT, and in the cash games I was encountering a ridiculous string of bad beats. At first I maintained my composure, but as that downswing wore on, I started to let my frustration dictate some of my play (eg too afraid to go all-in with KK convinced that the opponent had AA when in fact he showed a bluff)

      So I got down to my last few $ in the 1/2 BR, and decided to re-deposit what I had taken out. I set a new rule that says I can only pay for tourney & SNG buy-ins up to 1/2 of my cash game profits for the day. As well I instituted a personal 10% BR stop loss rule for my cash game play...If I go below that I stop for the day and focus my poker energy into books, forums, hand review etc.

      Then I took a day off (1st time in months, as I've been chasing my PT/PAHUD licenses), and started rebuilding. Decided I was adequately BR'd for NL$25, and I'm very comfortable playing at that level (I am also now very comfortable at NL$50, and play there often, just don't want to take too many BR risks at this stage). The first day saw me start to rebuild the BR with a small profit after funding a few small SNG's.
      Day 2 was yesterday, and I decided to play an $11 SNG while fresh, and took that down for $50. On the 3 cash tables I was playing, I tripled up on one, doubled up on another and broke even on the 3rd in a 2 3/4 hour period for another $80 or 58 ptBB/hr!! Later tonite I'll post a HH showing the shock and surprise of one opponent when I slow played a flopped nut straight with Royal Flush redraw against his Ax that turned a 2pair....wheeee :-)

      Nice to be back :D

      Other news...I missed hitting King status on Party by <100 points this quarter, that should be a lock by December....then I get to play a nice freeroll because of that. As of the last PS update, I have enough points for PT/PAHUD...been a grind but that should add a few $$ to my win rate, especially as I bought myself a really sweet poker playing PC- 2.4Ghz Quad core processor pentium with 500Gb HDD, 2Gb ram and mated to a magnificient Samsung Syncmaster 245BW 24" LCD!!!....should make running 6 tables and PT/PAHUD a breeze :D :D .

      The freeroll I mentioned in my last update is no longer an ongoing promo, but I have assurance from the poker room manager that he will honor it anyway in my case...

      Lastly, I am in hot pursuit of the Red Hot Poker Tour Red Club tourney leaderboard top spot. If I get one of the top 2 or 3, I gain entry in the Tournament of Champions against a slim field of 125 or so, all competing for a seat at a WPT event.

      EDIT: Neglected to mention I have started reading poker books. 1st one was Phil Gordon's Little Blue Book (not much value, sorry Phil). I am now 1/5 of the way through HOH II...excellent book, more for tourney play. So far, I am discovering I am already aware of the concepts described, even if I wouldn't have used the same words to describe it. I also find a few cases where I disagree with his approach, but I know/understand why he advocated it...the difference is likely one of style and I suspect I'm a bit more agressive than he is. Wondering though if I made a mistake reading HOH II before HOH I. And I also borrowed Sklansky's FTOP...haven't started that yet.

      That's all for now
      WarGawd
  • 3 replies
    • sismis
      sismis
      Bronze
      Joined: 27.10.2006 Posts: 352
      400$ bankroll is indeed a bit low for tournament play. you can expect great varience there... (if you get lucky soon then that variance is great)
    • WarGawd
      WarGawd
      Bronze
      Joined: 24.05.2007 Posts: 26
      Hi sismis -

      My max MTT B/I was restricted to $11, and I played that at most twice a day, usually just once. I also only played one $6 MTT and one $2 MTT, so on average, MTT buyin was ~$6 and so I had ~ 70 buyins. Couple that with the fact that the SNGs were mostly single table $11 & $6 ones with vastly lower variance (ordinarily<---edit spelling). I would usually have a reasonable expectation given previous +'ve ROI on those of offsetting some of the variance in the MTTs
      Finally, I still maintained a presence in the ring games, which should really have the lowest variance, and I would think that I'd expect profits there to offset MTT variance (ie buyin losses) to a degree as well.

      So yes, if I was exclusively playing MTT's I would set my BR requirements higher. My 1-table SNG and ring games should have allowed me to operate with fewer MTT buyins I think....agree/disagree?

      Thx
      WarGawd
    • Puschkin81
      Puschkin81
      Bronze
      Joined: 14.04.2006 Posts: 4,786
      Hi WarGawd!

      Nice to read that you are back on track. 58 PTBB/hr. is a great winrate :D But don't expect that too often in a session.

      Concerning your tournament play: I think it is better if you stay with cash games first until our SnG and tournament area is finished. I have the impression that you switch from here to there and don't concentrate on one thing. Also reading Harrington on Holdem II before reading I shows that you don't seem to have a clear concept. Without concentrating on one thing and not having a clear learning concept your winrate will be negatively influenced.
      To cut a long story short: I recommend that you concentrate on cash games and build your bankroll. As soon as our new strategy area is finished: read the articles and start playing. Read HOH I, II and III and post hands to get advice in the forum.

      Good luck at the tables!
      Puschkin81