Although I did play one 9 a.m. tournament on Wednesday I quickly realized that is not going to be the norm. Playing till midnight or thereafter and trying to get just a few hours sleep and be up at 8:30am is not going to happen so I decided that as of Thursday I would skip the 9 a.m. and simply play the other three $3 rebuys throughout the day. On Wednesday I did play all four and was completely exhausted all day, even the caffeine pills, although they helped, weren't giving me the usual boost that they ordinarily do.
Thursday morning the alarm once again went off at 8:30 a.m. because I had forgot to change it, but I simply turn it off and went back to sleep not getting up till 11 a.m. Grabbed a shower, a mountain dew, and got on the tables just a little after 12 and by 12:30 was a half hour deep into the 12 p.m. and on a $10NL table, a $20NL table and on the waiting list of a second $10NL table.
How many tables and with what bankroll to play $20NL has been a constant dilemma for me, but after adding just a single table over the last few days and utilizing a very restrictive stop loss I have decided that doing it in this manner is something which I absolutely positively hate. Having one table of $20NL with a couple of buyins as the stop loss is not something that I want. If I'm going to have a stop loss it's got to be at least 10, just to get through the swings that do happen from time to time I mean it is unavoidable. Therefore there will be no more of this a single table of $20NL and if there's going to be a single table of anything that will be the lower stake and that will only be if it's a case where there are only three tables of 20 in all available, I don't have a tournament going and just want or need something to fill in that 4th spot and 10 buyins is going to be the stop loss. This will begin when I have an available bankroll of $600, or 30 buyins which as I've stated before, for whatever reason, seems to be my magic comfort zone number. This should happen on or about February 3rd.
Since I am allowing myself a 10 buyin stop loss for the $20NL tables that means should I lose exactly 10 buyins in would bring the bankroll back to $400 which would give me 40 buyins at the $10NL tables to get back up to that $600 mark again, but the problem is that if I am utilizing a single bankroll for both cash games and tournaments which I have started playing on a steady basis then that is going to be an issue because if I want $400 to be my drop down point back to $10NL if needed I could find myself down to a $400 bankroll, nut tournament losses would be included in that. It would mean that I could find myself at a $400 bankroll but have not utilized my full 10 buyin stop loss. The bottom line is I am seeing the absolutely need for a separate cash game bankroll and tournament bankroll, but how to get a tournament bankroll is the question.
Right now as of this posting I have earned at $10NL $560.55 and I have earned at $20NL $109.95 so earnings at the cash games is at a grand total of $670.50. I feel every dime of those hard won, long grinding hours of earnings, those constant hours of grinding, need to stay right where they are in the cash game bankroll. Since I have a total bankroll of $684.80 it mean at this particular point I have a tournament bankroll of $14.30. What to do about this slight dilemma? The solution is pretty obvious to me. I feel that every dime of my cash game earnings should be dedicated to cash games and everything else can be added to my tournament bankroll and all of this will start the beginning of February because I have indeed earned 1000 points for the January promotion and I spoke about in a previous post and with those thousand points this should get me $100. It will be separated into $40 being added to my account immediately and the other $60 will be in my bonus account and with the amount of points that I am getting on a daily basis these days, I should be able to clear that $60 within 2-3 weeks at the very most. The two or three dollars a day that I get in rakeback, also better known as WSOP conversion points, can also be added to my tournament bankroll, as can any bonus money earned in any future reload bonuses that I take part in, any future promotion money I earn can be added, and finally if need be I can take some money from my monthly personal money and add it to my tournament bankroll and once I am showing a solid profit in these tournaments I can then withdraw that starting money back out again. So starting February 1st, in just a few days, I will be utilizing separate bankrolls for cash game and tournament play.
The last two days saw me on the cash tables go into what I can only call a downswing, but it's so quirky and covered so few hands I honestly don't know if it's truly a downswing or simple cash game variance to be completely honest. You will recall the last downswing cost me 10 buyins at $10NL, a total of $100 in 8300 hands. I consider that to be a downswing in its truest form, however I found myself down approximately $85 or so within a 2500 hand span. I called it a downswing on Twitter, but thinking about it I'm not sure what to call it because within the next 500 hands I had picked up in the neighborhood of $50 of it just like that. If this is simple variance it would have to be intense variance the likes of which I have not experienced previously in such a short number of hands. I mean I saw this coming as for the previous 3weeks when it comes to poker on cash tables I had the Midas touch where no matter what I did it turned into gold. I mean seriously, beginning on January 5th to and including January 26th covers a span of 22 days. 7 of those days I did not play poker at all so that means 15 days that I played poker and $425 in cash game earnings. That is absolutely insanity. Nobody can earn that much money in that short amount of time grinding cash games for nickels and dimes, it's not possible, but yeah that's what I did over those 15 days of poker playing. I would have bet large sums of money against the possibility that anybody could make $400 over the course of 15 days playing for dimes, and yet I did it. Of course this is just another lesson in an ongoing slew of lessons that I am learning about cash games in general and they surprise me at every turn. I mean I only made the transition December 12th and so logically I'm going to be learning more and more and more and more about what is and is not possible in cash games, but as Han Solo said in the movie The Empire Strikes Back "You know sometimes I surprise even myself." We will leave out the part where Princess Leia told him "That doesn't sound too hard."
I began keeping track of my tournaments on the right hand side of the blog starting yesterday when I realized that I totally needed to cut down on costs. The money lost in tournaments previously I simply put in my miscellaneous earnings and I feel that by cutting down these costs and keeping things reasonable and especially with me now going to be having separate bankrolls for each is serious +EV. Tournaments in general continue to drive me insane. Constant 2 and 3 outers are knocking me out of almost every single tournament that I get knocked out of. The only bright spot was a 4th place finish in the 12 p.m. $3 rebuy for a $56.23 return. For the two days that I have been tracking these things I am only 1 for 7 which is hideous at best and I am continuing to get knocked out by two and three outers. It's not that I need luck in these tournaments all I need to avoid is getting unlucky and so far that has not happened. Even in the one that I finished 4th in which I was disappointed in myself that I didn't win the whole damn thing, but I was doing really well stack was over $33,000 in chips and lost two thirds of it when I got beat by, you guessed it, a 2 outer. Paying blinds and antes knocked me down to $8000 in chips with blinds of $250/$500 plus antes and somehow, through guile, sure will, tenacity, and a few moves here and there, I actually got that stack back above 30 grand and at one point up over $200,000 at the final table. Don't even ask me how.
Finally, a personal update. I taken steps of insistence one might say and told my roommate Misty I am not covering any portion of the rent for anybody that is capable of working. That means her daughter Cathy who lost her job recently. Misty is unable to work because of a medical issue and I am fine with paying three ways even though there are 4 of us here. I would do this for any friend, but there is no way I'm covering any portion of the rent for somebody who does not have a medical reason they cannot work. Furthermore she blew her chance for the next at least week or two for half the jobs possible in this town because she decided smoking weed on the patio was something she wanted to do so any job offer that comes with a drug test its going to be a no go. Especially under these circumstances I'm not covering for anybody else. This coming February I will be purchasing the money order for the rent, I will deduct my $300 plus $20 that was given to me already and Jan will be paying me half of her tips until the entire $350 that I am owed is paid. This is not an unusual situation, this happens every month, but it's not usually $350. She also gets paid on the 5th and I should get a lump sum of at least $100 out of that and Jan is good for it, she has never screwed me over and as soon as she walks in the door from her job as a server, every single time hands me half of whatever she earned in tips that day.
I have decided to make some changes in regards to my own personal well being as well. Beginning in February I am going to attempt, you see I use the word attempt, to make some healthy changes to my life style. I certainly do not want to make Lightning36 three for three in his predictions about poker players having strokes lol. On a serious note I am quite touched by Lightning and everybody else that has shown a concern for my well being health wise. Yes I know I am an insane lunatic when it comes to the grind and quite often i don't concern myself with anything else but the grind, but I need to, I know that. My changes will come in food choices. I am going to be having less processed foods, more salads, tuna fish, things of that nature. I'm not going totally healthy, starting out slowly, but hopefully it will bring more positive changes. I am also not starting poker til noon each day and if the tournaments are finished by 10pm I am done for the day. Have not decided whether or not to toss in the 830pm $5 Rebuy since I'm not playing the 9am one. It does not go off every night tonight a prime example. It needs a minimum of 8 to start and does not always get it.
That's all for now. Alarm set for 11am and we will see how the cash games go. $10NL only until at least the 3rd, or one hell of a tournament deep run streak. Take care everyone and I'll see you at the tables.