As discussed here before, up until September my poker playing had hit a bit of a stagnant period. For about 6 months my profits would increase and then fall by a similar amount having the effect of my poker bank roll just "treading water". This was quite a sole destroying period as all the effort put into winning an amount would be undone the following month by losses. Either that or the effort would be spent on trying to get back to a break even point. In addition this had the knock on effect to my playing confidence - was I playing poorly or was this just variance.
So in September I went "Back to Basics" by identifying what used to be my bread and butter game (ie STT tournaments) dropped down a couple of levels and cut out all cash games and most of the MTT. Here are the results:
September 61% cash across 1-3 pays and double up STT's. (Approx 100 games)
October 63% cash across 1-3 pays and double up STT's. (Approx 120 games)
November 64% cash across 1-3 pays and double up STT's. (Approx 150 games)
So my bankroll has steadily built over the last 3 months, and so has my confidence and mental state. So am I happy with poker now?
Well not really, I know I can make money at the levels I am playing but I feel I am not really fulfilling my potential. I want to be entering bigger tournaments, qualifying for live events and have a shot at the big time. But will all that come at the expense of returning to break even again?
I am coming to realise that I am holding myself back. My personality dictates that I would prefer to win less more regularly, than more less often. The loss of one $50STT affects me more negatively than if I grind out my $50 profit over 3 times the amount of time.
So what do I do? Am I too risk averse to acheive anything big at poker?
Am I going to have to settle for winning between $2000 - $6000 a year and just accept its a paying hobby?
Well I am going to be trying hard to find out what it is that makes me such a "non gambler". I am going to see if I can tweak my bankrolling methods and reporting to convince myself into thinking I am taking less risk.
My friends are constantly telling me I have the game ... all I need to find now are the Balls!!
Until next time
Keep it Tight
10 years ago
5 comments:
I Don't understand what you mean by 61% cash across across 1-3 pays and double up STTs.
Are you saying you are cashing in 61% of these tourneys?
eg play 100 $10+1 STT's for a buy in of $1100 you win 61% for winnings of $1220 and a profit of $120 before rakeback ROI 11%?
Also, have you got a good rakeback deal cost that can give you an additional $30 - $40 based on the above stats.
Hi Michael
Yes if they were all double ups I would be making an 11% increase on my buy ins. In real terms however, when I cash 1st or 2nd in a standard SnG (1-3 pays)I make slightly more than a double up so the ROI is slightly greater.
Having said that I do buy in up to $22 and drop up and down the levels as I win or lose so the ROI cash value may not match the win percent.
For instance last month for SnG my total buy ins were $990
My returns were $1,141
A profit of $151
Hence an ROI of 15.25% (slightly up on my win percent).
I have been playing around with a silly $20 that I held in Ladbrokes and have run it up to $375 just on SnG and am now hoping to hit the bigger tables to increase my profit. My problem is I seem to get stuck in the small games because I have a great win %age and even though I have the cash am loathed to make further deposits. Perhaps I just fancy myself as a Chris Fergussen running $0 up to $10,000 LOL.
I don't get rake back either, I do use the Ladbrokes Player Points to enter their free tourneys and have had a few dollars cash back from those.
Thanks for your interest though.
Regards
Geoff
Glad to se it's going well. It's worth thinking about rakeback though because it can make a big difference.
There are full time players who's main income is the rakeback.
What's your name on Ladbrokes by the way, is it some form of Jester?
I haven't played there for a while since I started the double up tourneys on ipoker but I still think of it as my first home. Might play a bit soon when I get the returns from Laddies Poker II.
Good luck anyway and give me a shout if you want more info on the rakeback on ipoker.
Mike.
Hi Michael
My user name on laddies is NumberEight.
I will think about rakeback and changing the site I play on if I get past the $22 STT regularly as laddies doesn't seem to have too many players playing at higher levels.
If you play back there you'll have to let me know your username.
Regards
Geoff
It's Tolekim but I don't recall coming across you in the past. Maybe soon....
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