note: though aimed more towards my non poker playing friends i figured someone might enjoy it here
25/04/11
Here is the challenge that I have put before myself. I am going to turn zero dollars into a minimum 16k bankroll through online poker. Can this be done you ask? Well yes, it has been done in the past so don't think that I'm being incredibly original here (i'll save that for my art) most notably by Chris "jesus" Ferguson though more recent examples have popped up around the world , some even surpassing the 16 k figure.
My reasons for this, at least in part , are as follows. Firstly with the recent events with online poker I felt it prudent to take my bankroll off of any major site for now until I find a conducive home for it. By the way that BR was built from nothing and at this point is nothing to laugh at ,which is something you might do to this new one but we will see who has the last laugh. With that being said I wanted to stay in an environment that was both familiar and still profitable, the international market still exists it is just the americans which was a huge market that is gone..boo. The second reason is for the challenge of it and the fun really. It is something quite satisfying to have found something that I can apply both my mental and creative faculties in something I love, and I do. I have this newfound passion for poker that I can't see ever diminishing. My third reason ties into the first two in that I have recently found gaps in my knowledge and understanding of poker. This will simply not do since I consider this to be my main source of income within the next two years. I also am at a point level wise where I will be moving up in level very soon and the stakes will be considerable. I will need all the tools at my disposal to have an edge on my opponents, so going back and starting fresh will better prepare me once I take my game to the next level.
The three key areas in this challenge should be obvious by now but they are discipline, study and practice. I will stay disciplined in the management of my bankroll and loss/gain parameters. I will devote one third of my time in this endevour in study. And I will adhere to a strict number of hands to be played , once my BR is suitable to allow that.
So let's break it down.
Bankroll management will be pretty standard except for at the beginning. Standard management dictates that you should have a minimum of 20 buy/ins for NL cash games, 300 BB for limit and 40 buy ins for tournaments. Since I will be starting with nothing this will be easy for the tournaments since I will have to stick to freerolls for awhile. As for the cash game allowance I will have to grant some leeway in that. Once I reach fifty bucks I will allow myself to play games where my buy in is not within the 20 limit. I will however have a very strict stop gap of losing only 25 bb's in a session and not allowing myself to drop down below 30 bucks or I will have to abandon cash games until I am back up to 50. In all truth I may just stick to limit games until the bankroll exceeds 100 bucks. That for now is a ways off though so I can fine tune my decision before I get there. I will also put in place some reward systems for when I achieve certain milestones (maybe taking you out for dinner
) as well re-evaluating my milestones as I go along and time allows. Obviously when I find a place to make more money in the level I'm at I will have to devote more time to grinding it out and less on this experiment.
The study aspect is the most exciting for me. There is a massive amount of resources available to poker players of every level from literature to software tools and peer forums. I just recently got ahold of 60+ books on theory. I have also been a part of two key forums for card players that have peer reviewed hand analysis and general advice and strategy aplenty. I have also obtained two very useful pieces of software. One is a tracker that tracks an insane amount of parameters on both myself and my opponents. The second one calculates odds and equity on the fly. The last part of my study will be in a study group that I am putting together with a few other serious novices like myself across Canada. I'm also looking into a coaching site that has a decent monthly membership fee and both impressive results and a great reputation.
Now for the fun part, the practice. My outline for this will be refined once I have the ability to play cash games. Once again the lack of a sizeable BR is the main factor here in that obviously I can't expect myself to play 2k hands in a month if I can't afford it. For now I have a schedule of freerolls that I will adhere to until I reach that first major milestone. It is exactly five tournaments a day with a total possible payout of $160. Obviously that would be the best case scenario to take all five in one day but realistically this is not feasible. The general rule of thumb is that a solid player should only expect first in one of 25 tourneys. However placing in the money should be expected once every third time. Actually last week I took the same tournament three nights in a row but this is a rarity and not the norm.
Anyway by now you are asleep but I promise you that if you keep reading this it will not always be so dry and boring. I will not go into detailed hand by hand breakdown or anything like that. I will simply give a regular update on the progress of it all and some stories both good and bad as it may be. I will also share some of the knowledge I gain. I am looking forward to this and hope that you will come along for the journey. Please feel free to add any comments, support or questions. Well thats it stay tuned and see ya on the felt.
in grace
" Huh you got two pair. Me too. I got two fours and I got two more fours."- negreanu