Wednesday, December 30, 2015

December Review / January Goals

I ran into a situation that made me realize that, at times, mixing stakes is a must do whether I like it or not.  It's either that or not play or get my volume cut in half.  Being WSOP is a Nevada only site the majority of the cash players are playing the first two levels, $2NL and $10NL.  Once you hit $20NL as I have now the amount of tables is definitely reduced.  $20NL for many hours throughout the day only has 2 tables going.  The same can be said for $50NL and for $100NL it's a single table.  During the late afternoon and evening hours it can improve, but not always so in order to maintain the volume I've grown accustomed to there are going to be times, perhaps more often than not, I will be running two tables of one stake and two tables of another.  I'm just going to have to do my best to keep a close eye on the tables that are not automatically topping off to make sure the stacks don't get too low. 

December Review

What can I really say about December.  My restart on December 12th being day 1 after ironing things out, after getting my act together, and when I did so things took off so much more than I could have ever have dreamed of.  I would have counted an earn rate of 5bb/100 as being successful and at $10NL mine was 17.5, three times higher than expected.  15,692 hands played and total profits at the $10NL tables of $274.62.  $20NL which I started out a couple of buyins down ended up 1884 hands played and $52.49 in earnings starting out with a 13.9bb/100 earn rate there.  I cleared $35 in bonuses, earned $20 in CPs, aka rakeback, ala loyalty rewards, or whatever you want to call it and I also made $118.75 from the APP leaderboard promotion and $2.55 in 3 freeroll cashes.  When you add it all up the month of December provided $503.41 in profits, bonuses, promotional earnings, and loyalty rewards.  The whole scenario was more than I would ever have hoped for.

The only negative from the month of December was my last three sessions of $10NL resulted in 2.2 buyins in losses, but at the same time it covered less than 1000 hands so I cannot put anything into that.  I would have liked to get in more volume as from December 12th being my starting day one till the end of play today which I did not put in much volume at all because of the tables falling apart and with it being New Years Eve and all the 12th-31st covered 20 days and out of those 20 days I only put in what I would consider a full days worth of play in 9 of those 20 days.  Granted I was able to play some hands on days that I didn't think there would be any poker, but they're also days where I just slacked off on my volume.  That is something that I need to work on. 

January Goals

30,000 hands played.

$240 in table earnings

8bb/100 overall earn rate at $10NL
6bb/100 overall earn rate at $20NL if played.

I'm still convinced that my current earn rates are not sustainable over the long term.  Maybe for somebody that has been grinding cash games for a long time but not someone that's been doing it for less than a month like I have.  No one is that good, that quickly, learning a new form of poker and let's face it cash games and tournaments are two different entities.

$30 in converted points to dollars

Well there you have it.  I will be making a $200 withdrawal from the online account in January, but as I stated before any withdrawals will be for a poker related endeavor regarding cash games.  When Nick comes to town on the 21st there is a high degree of probability that we will be playing some $1/ $1 at the Linq and for that purpose I want to have a couple of buyins on me for that and since it is a cash game activity it will come from my bankroll.  Any other expenditures such as transportation, eating out, and tournament play will come from my monthly personal money. 

To start 2016 I will be playing exclusively the $10NL tables.  Overall I am showing a profit now at $20NL,but playing those stakes with 20 buyins is definitely not in my comfort zone.  I much prefer what I have now and right now that would be 50 buyins for the $10NL game and just thinking about it I find myself completely comfortable with that aspect.  Playing, or taking a shot on 20 buyins makes me realize that a simple 5 buyin downswing, not uncommon in multitabling,  would be 25% of the entire bankroll.  I don't like that thought at all.  Just for my own comfort level it seems to me taking a 5 buyin shot at a higher level when I have 30 buyins makes much more sense.  Even if I were to lose the 5 buyins on the stop loss that I will put in place I would still be dropping down with 50 buyins for the lower level.  It would also mean that a 5 buyin loss at the higher level would be a loss of less than 17% of the total bankroll.  It all boils down to comfort zone and I don't want an uncomfortable situation to effect my play in a negative manner which I believe it possibly could so therefore before I play $20NL again my bankroll will be at $600 and if I were to lose 5 buyins doing so I would still have $500, which is 50 full buyins at $10NL.

I know some of my readers may feel that I'm being foolish about the whole thing, that I need to play outside my comfort zone, but when it comes to bankroll management I feel it is better to be more conservative then the opposite option.  I invite my readers to chime in on this.  Do you think I'm just acting scared of the higher level, am I just chickening out because it's double the money involved, or is a comfort zone for a poker player an important psychological aspect.  In my mind I'm not avoiding playing higher levels, I'm just allowing myself a little bit more of a cushion, but whether you agree or disagree, I most certainly invite your thoughts and comments on this.

That's going to wrap it up for now.  I hope everyone is having a very happy and safe New Years Eve and to my readers and everyone out there I wish you a very good and prosperous New Year.  Take care everyone and I'll see you at the tables.

6 comments:

  1. im very conserv@tive, i h@rdly feel $13k is enough for $1-2 LIVE. its only 45 buyins of $300

    ReplyDelete
    Replies
    1. explain to me how you lose 18K which was over 50% of your bankroll in a short period if you are so conservative. You are an unfiltered gambling addict with little control

      Delete
  2. I know some of my readers may feel that I'm being foolish about the whole thing, that I need to play outside my comfort zone

    NO NO NO!

    ReplyDelete
  3. It's a marathon - no reason to do anything that makes you feel uncomfortable...

    ReplyDelete
  4. Poker & Gambling 24/7 I have noticed that no matter what I write in my blog as far as Tony is concerned I'm always wrong. I'm wrong about my buyin amount, I'm wrong about the stakes I play, I'm wrong about what I want to have to play live, no matter what it is he seems to have this insidious urge to try to almost bring me down a notch. Maybe it's because I am new to the transition to cash games or maybe it's because he just thinks he's always right about anything to do with poker and anyone that doesn't do exactly as he would do is automatically wrong. I don't know what the reasoning is, but it seems to me, again as far as Tony is concerned, no matter what I do I'm wrong.

    ReplyDelete
    Replies
    1. You are making a huge run in 10NL. Keep it up and you can surpass Tony, and it likely will not take you 30 years :)

      Delete