Tuesday, January 26, 2016

Tournament Cost Reassessment

Since January 12th I've played in 24 tournaments on WSOP and I have only cashed once finishing in 10th place when ten were paid.  On the surface one might think that obviously I'm doing something wrong, but I checked the final hands on every single one of those 24 and this is what has happened to get me knocked out of these tournaments. 
Lost to a 2 outer 3 times
Losr to a 3 outer twice
Flop a set and lose 3 times
Hit trips and lose
Flop two pair and lose
Beat by runner runner flush
To say that I am running ice, ice cold would be the ultimate understatement.  It's almost like the Poker Gods are trying to send me a message.  It's like they're saying "you're trying to rush things and we're not going to allow it"  Ok I know there's probably no such thing as Poker Gods, but I can't come up with any other explanations.  Before I made the switch to cash games predominantly I played in many many tournaments over the years and I cannot ever remember running that badly over the space of two dozen tournaments.  The problem is these aren't $1 and $2 tournaments, these things are costing me $20 a pop.  I was going to play in the $20 Midnight Mayhem tonight, but after getting knocked out of the $3 Rebuy which I jumped into as a last minute decision and got knocked out by a 2 outer I might add, I unregistered from the midnight tournament.  I just couldn't see throwing another $20 away.

The problem is I enjoy the mix of playing tournaments and as any of my longer term readers know I never surrender, but what I do is reanalyze, reassess, and reapproach.  In this particular case there is no new approach to how I play because let's face it, the way I get knocked out of tournaments there's not a damn thing I could do about it, but in reanalyzing the situation I have decided to eliminate the $20 tournaments and play smaller ones at least for the time being.  I will switch back to the rebuys because something that I realized was rebuys weren't giving me a problem as I thought they were because my opponents we getting chance after chance.  I was completely wrong about that.  95% of the time I make it well past the rebuy period.  So obviously that's not having a negative effect.  Before I change my mind on the midnight l tournament I was fully prepared to spend $40 today and in future days and by playing the all four of the $3 tournaments my total tournament cost will be a maximum of $5.73 each totalling only $22.92 each day.  When I snap out of this ice cold run and the bankroll is considerably higher I will bring back the $20 Deepstack into the daily play mix.   Definitely not giving up on tournaments, but I am taking steps to reduce the cost and try to play through this rough streak.

Cash games on the other hand are rolling along. Another winning day in cash games again today picking up over 2 buyins at $10NL and an additional buyin at $20NL, a total cash game profit of just under $50.   Only played 10 hours as just after midnight I just completely felt drained and decided to call it a night a couple hours earlier than planned, but even with only 10 hours since my roommates are accessing my time less and less since I pretty much let them know I need to be left alone during the daily grind in those 10 hours I got in over 2,000 hands.  Tomorrow I start at 9am and play to midnight, but I'm going to try to take breaks in between the tournaments.  For instance while I'm grinding and playing say the noon tournament and suppose I get knocked out of it at 3 p.m. then I will take an hour break until the 4 p.m. tournament starts.  I think, reasonably speaking, that's the only way I'm going to be able to run 15 hours on a daily basis.  I can attend to my poker studies while I am playing  because I'm either listening to music or listening to Voyager episodes on Netflix so during the course of the grind I can also be listening to a poker podcast and videos so that I can get a reasonable amount of sleep each night.  So once again that wraps up a blog entry.  With reduced cost and tournaments the bank roll should go back to a steady rise.   Take care everyone and as always, I'll see you at the tables.

3 comments:

  1. I know you know this, but tournaments are extremely high variance, and I don't think you are bank rolled for $20 online ones.

    ReplyDelete
  2. Yeah Mojo I mean I know technically speaking I'm not, but I've never been sure if that 50 or 100 buyins that is traditional is more for people that are grinding several tournaments a day online or live for that matter whereas I was only playing one or two a day and quite frankly I figure my cash game profits are going to even it out anyway, but I just decided that it would be a good idea two step the cost back a little at least for a little while.

    ReplyDelete