As you all know my goals are to get to a certain amount so I can start grinding limit games because I enjoy them. The times that I have played no limit live I did not particularly enjoy those games and even felt they were boring, but am I making the same error as I did when I said that I found $2/$4 limit boring, but it wasn't the game itself, but the place I was playing that actually brought about those thoughts and feelings and I'm starting to ask myself is that the same case with the live no-limit cash games that I have played?? The predominant place that I did play live no-limit cash games was at the Stratosphere and there is no doubt in my mind that it was a struggle staying awake during those games, what would that be the same way at Planet Hollywood, Venetian, Aria, Bellagio, or any number of other places?? I'm thinking probably not. There are a couple of factors that has brought about this thinking in the first place. The first is I rather enjoy grinding these no limit cash games online playing for stacks even though the stacks may only be $10 or $20, I find the whole atmosphere of online no limit cash games to have that excitement and constant adrenaline flow and it makes absolutely no sense to me that I wouldn't feel the same way about live no-limit cash games. The logic does not add up.
I also have to admit part of this rethinking of what I have stated as my choice for the future has to do with what I see others accomplishing in these games. It is a very rare occasion where I would look at something that TBC does as an example and find a positive from it, but the fact of the matter is even with Tony's demons with VBJ and video poker the fact of the matter is he does accomplish steady and rather respectable earnings in live No Limit cash games. My friend Michelle known as 9ontheturn on Twitter if you saw her tweet about her poker session on the 4th of August the picture she posted on Twitter was of her cashing out over a $1,000 in chips after that session she played. Then there's Coach who writes the blog Three Chips Poker who recently moved to Las Vegas, grinds No Limit live, with sessions of $100 here and $200 there. There is no way on God's green earth that something like that will happen in the limit game and furthermore when I see these things, when I see Tony making $16 or $17 an hour, when I see pictures of Michelle cashing out over $1,000 after a session, when I see Troopers Vlogs and he's pulling in winnings in excess of $200 per session for many sessions in a row I look at this and the only thing that is going through my mind is I want this. I want to get in on this action. I want to be part of what they accomplish and accomplish it in my own right, the fires are burning inside, but suffice it to say there is a substantial roadblock heading down this road.
$4,000 won't even scratch the surface which means I'll be grinding online for approximately the next 40 years or at least it seems that way. Doing a little researching on the Internet I found that an article from AVP by their resident pro Benton Blakeman 3 years ago gave his guidelines for bankroll management wbere he wrote that many pros go with 40 standard buyins. If it's good enough for the pros it's obviously good enough for me, but that is a bankroll of $12,000. Damn!! What the hell happened?? I started out looking to earn $2,000, was 25% of the way there. I'll tell you what happened. What happen is I got sight of the bigger picture and in some ways I wish I didn't, but it's too late. I've already seen what I've seen and I can't close my eyes to it. I can't close my eyes to what's available. I want it, I crave it and come hell or high water I will have it, but how the hell am I going to accumulate that kind of money. Even at $50NL and an earn rate of 6bb/100 which may be stretching it at that level, it would still take six months and that's if I could get in 2000 hands a day at $50NL which is an impossibility when you consider the fact that at just after 6:30 p.m. on a Saturday night which is definitely prime time online poker there were two tables at $50NL running so even when I have the bankroll for that level it's obviously going to be a mix of $20 and $50NL tables and me having the bankroll for that level is a ways off to say the least, at the very best of circumstances.
Live tournaments once or twice a week could help this issue if I could hit something decent. Perhaps start out with $65s at the Nugget or the Mirage once or twice a week. The Nugget has the better blind structure but the Mirage has the better payout structure. Work my way up to the Friday night $125 NLH tournament at The Orleans. That puppy pays about $4 grand up top. However this would obviously be money spent from the online bankroll and before I could even think of spending a hundred and thirty a week out of it I better damn well be making more than that. The combination of $20NL and $50NL tables seems to be the magic area where I can comfortably invest in other areas and facets of poker. Once I get the bank roll up to a certain amount I will also be playing the $20 deepstack online, the $20 Knockout, and possibly from time to time the $20 Midnight Madness, any one of these can produce hundreds of dollars in earnings, but that's a ways down the road as well. Criminy Christmas everything seemed so easy. I finally got myself where I knew what I wanted to do, didn't need all that much money to do it in the grand scheme of things, and then I had to see that picture Michelle tweeted cashing out over a thousand in chips and my eyes lit up. I know I can do this, but suffice to say, when the time comes, it will not be at the Strat.
I had planned on taking two days off, the 3rd and 4th, but that 2 days got extended to a third day and it's also a day where I ended up playing $2/$4 limit live and losing $140. It is hopefully my last time playing a limit cash game in this town. I'm hoping to stick to tournaments only and no limit cash games eventually, but it's not going to be easy. I know there are going to be times I'm going to want to grab $300 and go try to grind a profit at the Golden Nugget in the $2/$4 game, but I have to try my absolute best to avoid that temptation. Now is not the time for making $4 or even $8 an hour, now and in the future is going to be the time for making hundreds If not thousands in one shot to add on to the bankroll. I am simply counting that $140 as a withdrawal and a day out for fun. I will be keeping track on my session app any tournaments played in August and the months following.
My third session played in August was also my third consecutive winning session at the cash games. 1634 hands played and earnings of $30.59. I also went 1 for 4 in the $3 deepstack rebuys with a final table 7th place finish, but overall on the day tournaments only showed a profit of a buck or two. Overall 5716 hands played with earnings of $113.27 over 11 full buyins made with an earn rate of 19.8bb/100 again as stated previously completely unsustainable and I already know this. Overall in all of the deepstack rebuy tournaments I am for 4 for 11 which is the absolute best ITM percentage that I have had since I started playing on WSOP even though it is in the very short-term. Earnings are in the neighborhood of $22 so far in these deepstack rebuys and although I have not made a deep deep run yet I have seen 3 final tables in those four in the money finishes which is pretty respectable in his own right so although overall I wish the profits were higher I accept what is and hope to improve on it.
Well only 2 hours of sleep yesterday and the caffeine pills wearing off it is definitely time for a good night's sleep. Back at it at 9 a.m. tomorrow and this upcoming week is going to see several partial days played as I have at least for doctor appointments that I must attend to. Until next time take care everyone and I'll see you at the tables.