I keep very little money on my poker sites. If I have a huge cash, I withdraw a majority of it and add it to my live bankroll. I have trained myself to keep approximately $500-1000$ on each site, and withdraw any excess. However, this means that I am constantly struggling with a relatively small bankroll compared to the cost of tournaments that I play. The upside to this is that I feel more disciplined; I have to be more careful and selective with how I utilize it. At the same time, I may be limiting my potential greatly because my choices are not as broad with limited funds.
So my new goal is this: to set myself up with an online bankroll on each site of $3500-$5000 so that I have at least 50 buy ins for 100$ tourneys and I can play consistently, 12-15 hours per day. I have spoken to some very successful online pros and their percentage of cashes is equivalent to mine. EQUAL. THE SAME. #s are the SAME. The difference is two fold- they have more wins than I do (I have to work on my final table strategy) and second, the volume of tournaments they play is much, much larger. Standard, I play 3-4 $100 MTT per week, maybe the $30 rebuy once or twice, and a few satellites. While I am putting in 6 to 7 hours per day playing online, I limit myself to low stakes cash and one tournament, at the most, per night. My cronies are committing to much higher cash game limits and furthermore, are multi tabling a minimum of 3-4 $100 tournaments per day.
I know, that if I commit myself to improving my game and building the bankrolls I indicated on Full Tilt, Stars and Ultimatebet, I will undoubtedly, be very profitable. My goal starts today. I will tell you how I fare. Full tilt, I will have to hold off for a while. Ultimatebet, I have $800 and Stars, I have about $150. Such little money, but it also makes the challenge exciting! My plan for stars is to continue to play the $10r until I cash again, because that is really the easiest tournament in the world. As a side note, yesterday, I finished 262/1575, because I donked off all my chips on a move- I was falling asleep.
STRATEGY- HOW I WILL EXECUTE ABOVE PLAN:
1. Time frame is 6 months: May 16, 2007- December 1, 2007. By December 2007, I want to have funds available on each site: minimum of $3500 on UB, Stars, and Tilt.
2. Withdrawal rule: Only withdraw if account is over $5,000. Anything above $5,000, I can withdraw, otherwise it has to stay on to be accumulated. Exception: Trade funds with other playres on other sites to spread bankroll.
3. Continue playinig one tournament at a time to retain focus and manage online bankroll. Slowly increase to multi tabling over time, based upon size of bankroll and amount of time alloted for poker per day.
4. Gat rid of my day job by Jan 2008 (must sell apartment =) )
5. Re-organize goals when I have $5,000 on each site or December 2007, whichever comes first.
6. Do not play when I am tired. This is very bad. Consistently bad results.
7. Invest in desktop with two large screens by December 2007, or when we move to NJ.
8. Continue to read books and put together my own play book/game strategy for poker. Tighten up holes in game including: Final Table strategy, differences between play on stars, fulltilt, and UB, etc.
I am very excited by the above goals and I look forward to executing this plan. I think that I will really enjoy this, and it will be super profitable. I am so capable of playing 12-14 hours a day straight online. I have the stamina and want to do it; as long as I have enough sleep and I am comfortable. I really do feel great things to come!
On a separate note, I am so excited about Vegas- I cannot wait!!!! It is going to be simply divine!
Finally, quick tournament report from yesterday: played the bounty $129- finished 80/255. I was short stacked for a long time and finally busted with 99 v. AQ. Blah. Then I played the 25k guaranteed $215- I made a huge mistake and tried to bet someone off a set when I had the nut flush draw and a gut shot. Bad, bad move. However, I did not know the player, so at the time I thought it was a good play =) So wrong. Throughout my remaining time, he became known as the tightest player at the table, hahaha. I actually lasted a long time and took a race with my 66 v. ak, and i was good until the river. Oh well.
I also played the 10$r on stars and got so so so so tired that I made a move with 262 people left out of 1580. And got out. But I am in good shape to win that tournament soon, I can feel it. I am always close to the money, in the money or at final two tables. I have only played that tournament 5x, cashed twice, bubbled twice, and got frustrated once.
I do have an entry for Aruba tonight, so I will definitely play that. That's all for now. Enjoy your day and good luck in all your poker endeavors!
Good luck and peace,
Lucky C.
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