After a 3 day struggle where I was only able to accumulate profits of $2 over the span of 5233 hands I seem to have bounced back from that whereas in the last 3 days I have accumulated profits of $47 over the last 2782 hands.
I had mentioned to Misty that I was getting an early start Wednesday the 23rd to do some Christmas shopping and as the conversation continued she offered to drive me wherever I needed or wanted to go and then later scolded me for not asking for a ride. That's just not how I do things. I was fully prepared to be bussing around town going where I needed to and would not ask for someone to help me in that way when I have available transportation, but since she offered I gladly accepted. That means the days activities concluded much much quicker than I anticipated and I was able to get in a session on the 23rd which originally I thought I would be taking the day off, of 911 hands and a $26 profit.
I am spending Christmas Eve and Christmas with my friend "Melanie" and earlier this afternoon me, her, and her friend who I will call "Daffney" ended up going to the store for some last minute Christmas shopping. I had met "Daffney" once before and she seems like a pretty cool lady. After we got back to Melanie's place we were just hanging out chillin watching some movies when the taking of a pain pill earlier knocked me out for a little bit maybe about an hour. Shortly after that Melanie decided that she was going to get some sleep and since I felt wide awake after that mini nap I got in a short session on Christmas eve of 512 hands upon which I was able to accumulate a profit of 1.3 buyins or $13. That puts profits at $10 an hour of 250 $2.60 covering 12866 hands and I'm holding an earn rate of 19.6bb/100.
My poker study time that I have been taking of late has been extraordinarily helpful sometimes by just looking at a situation that I have seen several times before, but looking at it in a slightly different way. Listened to a great podcast from Red Chip Poker the other night on aggression and 3 betting and definitely took some good things from that. The podcast was about 26 minutes long and well well worth the time.
At this point I find myself somewhat conflicted. Conflicted between wanting to utilize the correct approach specifically within that of bankroll management, conflicted between that and wanting to get to my goals in the fastest way possible. I so want to jump feet first into $20NL. However within those poker studies that I have mentioned have been watching some videos on bankroll management and one of the videos I watched utilizes the 5% rule which says you never have more than 5% of your bankroll on the table at any one time. Since I 4 table and have $40 that I buy into on those 4 tables that would be talking a minimum bankroll of $800 or 80 buyins per level. Ughhh!! I want to proceed with discipline, but that means I'm not going to be able to hit $20 NL at least four tables of it until I have a $1,600 bank roll. That is somewhat depressing. I asked "splitsuit" on twitter if that is in fact what it meant. He is the maker of the videos I have bern watching it is also a poker coach having coached over 300 people so I trust his judgement. He tweeted back that he felt 30 buyins would be fine. So if I have 30 buyins for $10NL which I now have in excess of due to profit at the tables and a $37.50 promotion award for finishing in the top 20 in the App leaderboard for week 3. now that I am gold status I am not eligible to compete in that promotion in the final week, but that's ok as the promotion brought $87.50 added to the bankroll so I'm extremely happy with that.
So if I go with the 30 buyin bankroll management structure which is what I am doing and feel very comfortable with, and coincidentally enough happens to be the amount of buyins that I said I wanted to have to play the live cash games full time, that means $600 in the bankroll and I will be able to play $20NL, but the more I thought about it the more I thought maybe I could quicken the pace slightly while still adhearing to solid bankroll management rules. There's no doubt that having $600 before 4 tabling $20NL is the way to go, but what if I simply added a single $20NL table into the mix one at a time. If 30 buyins for $10NL is $300 and for $20NL it's $600, that's a difference of $300. If we divide that $300 by 4 we come up with $75 so it seems somewhat reasonable to me to be able to add one table of $20NL every time I accumulate $75 over the $300. When the bankroll reaches $375 instead of four $10NL tables play three of them and a single $20NL table. If after the session the bankroll was under the $375 mark I would simply go back to four tables of $10NL. Another $75 which would put the bankroll at $450 and then I could be playing two $10NL tables and two $20NL tables, and simply continue switching out $10NL tables for $20NL tables each time an additional $75 is earned weather through profits, bonus or promotional money and switching back if necessary if I drop below those $75 increments. After the short session on Christmas Eve my bankroll since at $379 so I will be able to implement this my next phone session I play. I doubt highly I will be playing at all on Christmas Day, but on the off chance that I do get in a few hands I will not add the $20NL table until I know I will be getting in a full session. So if I do end up playing a short session on Christmas day I will stick with 4 tables of $10NL until my next full session which I assume will be Saturday.
Some of my readers may feel that playing two different stakes is not a wise choice, but as I increase the levels I'm not going to have any choice. As an example even when I am fully rolled for 4 tabling $20NL I've seen several times through the course of the day there are only 2 tables available of it depending on what time it is and under those situations in order to get as much volume in as I can if there were only two tables of $20NL available I would fill in the other two tables with $10NL. The higher you get the more likelihood is that there will only be 2 tables available as I see this is the case many times with $50NL and at $100NL sometimes only one so there are going to be times that I will have multiple stakes being played at once so with that being said it should not be an issue.
Well that's going to wrap up this entry. I want to wish everybody out there a very very Merry Christmas. I hope the holiday finds you having good times with your friends and family and that you are looking forward to an upcoming prosperous New Year. Take care everyone and I'll see you at the tables.