Monday, February 13, 2017

Playing On Pure Profit And Earnings

I decided to remove the initial $260 that I started this year with for a bankroll thus creating the situation where in 2017 I am playing on pure profit only. I initially was going to do this because I was considering buying a new laptop as I thought mine was starting to slow down in certain areas, as it is 2 years old, and it may have slowed down just a notch but it's still functioning perfectly well for my needs.

So instead, a couple days ago I decided to open my heart and my section of the home that I live in to a kitten from the animal shelter.........at least that was the plan going in.  I fully expected to go to this animal shelter and be coming home with a kitten anywhere from three to six months old.  As I was looking at all the cats and sticking my hands inside the cage this one particular black and white one grabbed onto my finger and when I tried to pull my finger back out of the cage she pulled it towards her. I think at that particular moment she decided I belonged to her. I had them open up the cage and I picked up this three year old little girl and she started hugging me. I was done for and there was no doubt about it she had to be the one that was coming home with me to a new home.  Ladies and gentlemen I would like to introduce you to Diamond. She's a three-year old little girl who is maybe one of the most loving creatures I've ever run into in my entire life. She climbs up on my shoulder, she lays on my hip, lays in the crook of my arm, she's one of those cats that needs to be making contact at all times I have never seen such an affectionate creature in my whole life. There is no doubt about it she is my little girl. And what a team we make. I named her Diamond, I'm known as Flushh so together we're the diamond flush lol. 








It is amazing to me how poker is filled with streaks or runs, hot runs and cold runs.  After starting out February up I went into a tailspin where I had a 0 for 20 run.  No matter what I did it was wrong, you know the routine. Then the day before yesterday everything switched around. I won so many coin flips that day I lost count of them all and I ended up finishing third in the 9 a.m. tournament for $69 and then taking down the 7:30 p.m. $3 deep stack rebuy $800 Gtd for $344 when I beat a field of 166 players. In one single day I went from ($10) down for the month to earnings of over $350 for the month of February.  





Only played one tournament Saturday total cost $9, but no cash in it and I began action yesterday with a bankroll of $573.49, and remember this is all profits, all earnings, but it does bring up a question. Why am I only playing $3 and $10 tournaments with a bankroll of nearly $600. Am I scared of something? Am I simply employing decently correct bankroll management strategy? Is it a mixture of the two?  At the beginning of this year I had stated in this very blog that I wanted to employ an aggressive bankroll management approach. I started with my $260 and he said as soon as I hit $400 I would start taking shots at the $10 rebuys which are a total cost of $20 and the 4:45 p.m. $20 deepstack. As I earned that first $160 and was in fact at a $400 bankroll, all of a sudden the thought of playing tournaments that cost $20 each was very uncomfortable to me. I mean I was fine with it right up until the point that I actually had the money to do it. 

I then decided that instead of $400 I would do this with a $600 bankroll. Well I started today with a $573 and I can tell you beyond the shadow of a doubt that even when I do hit $600 I have no intentions of playing three $20 tournaments even just taking a shot, it's not going to happen. Now I have decided on waiting until I have a $1,000 bankroll and utilizing a 50 buyin/40 buyin approach meaning I can play my $20 tournaments when I have 50 buyins for them which is $1,000 and if I drop one dollar below 40 buyins which would be dropping below $800 then I will not play them any longer until I get back up to $1,000 again. 

The question I have is why am I doing this?? I was all filled with piss and vinegar at the beginning of the year, aggressive approach, going to take my shots, but then when I get the money in hand figuratively speaking, well not figuratively as it is in my account balance, but when the money is available to me everything that I thought I would be eager to do comes to a screeching halt. I'm fairly certain playing those $20 tournaments at $1,000 and stopping playing them if I dropped to $800 is going to be a comfort level but I can't swear to it. What's going to happen, and I simply going to chicken out again??  I just don't understand why I'm doing this. 

I always have had a conservative bankroll approach, but I was so determined to adopt a more aggressive approach with bankroll management for 2017. Was I just fooling myself insofar as that's simply not me, not my style, or do I have an underlying fear taking what would be to me somewhat expensive losses considering those $20 tournaments are more than three times the cost of my normal $3 deepstack rebuys that I play. I'm fairly certain that I will be comfortable enough at $1,000 to start trying them, but at this point I can't swear to it. All I can do is see how I feel about it when I do have $1,000, but if anybody has any idea what may be going on here, all thoughts and opinions are always welcome.

As for yesterday I had some personal business to take care of this morning and was out and about early, but did make it back for the 12 noon tournament. I went 0 for my first five tournaments on the day, but did manage a final table 5th Place finish in the 9:30 p.m. $5 deepstack rebuy for a $57 return. Nothing huge but it did turn the day from a ($48) loss into a $10 profit and any profit is good profit.

One of the tournaments that has become  part of my daily schedule when it goes off though there are times that it does not get the required minimum players to get it started is the $10 PLO 6 Max reentry.  This PLO tournament is a reentry as opposed to a rebuy which means you can only reenter the tournament if you have one chip or less remaining whereas in the rebuys you can rebuy if you have 4000 chips or less remaining. It generally doesn't get all that many people, but it is a $250 guaranteed prize pool. Tonight it had 28 runners paying the top five with first place paying $148 and it has a 90-minute reentry. I did not cash in it and playing this tournament on my own dime this year I am now 0 for 11.

Being I am 0 for 11 in this PLO tournament one might think that it might be a good idea not to play it as I don't do well in it, but I did win this tournament while under a staked day. However that is only 1 cash in 12 attempts an ITM percentage of only 8% which is not good at all and would actually put me with a very small ROI had the one time I won this particular tournament been on my own dime instead of part of a stake. I have taken my fair share of bad beats in this tournament runner runners and that sort of thing, but I believe that's the very nature of PLO. I think I'm going to continue to play this particular tournament when it does go off for at least the remainder of this month then reevaluate at that time whether or not I should continue doing so. Even a full month of it is probably not enough of a sample size but if at the end of February I find myself down over $200 just for this particular tournament I think that even with a small sample size the Poker Gods might be trying to send me a message.

Another tournament I sometimes wonder if I should be playing is the 7:30 p.m. $3 deepstack rebuy, the same tournament I won a few days ago for a $344 return.  I know it probably sounds like absolute Insanity to be questioning whether or not I should be playing in the tournament in which I just beat 165 opponents to take the top prize, but that is a tournament that I generally struggle in and it was the first time I had won it in 107 attempts since I have started playing on WSOP.  In fact in the first 106 tries I only finished in the money 7 times. On WSOP I generally run an ITM percentage from 12%-16% which I know probably sounds small but an ROI, well at least in 2016 anyway, of approximately 60% so as you can tell my ITM percentage in that specific tournament is less than usual, but of course that specific tournament also gets over 150 entrants every time whereas the other $3 deepstack rebuys that I play generally speaking get 80 or 90. The 7:30 p.m. also has an 85 minute rebuy. Whereas the other ones only have a 55-minute rebuy. And historically I perform so much better in the 55-minute rebuy period tournaments as opposed to this 85 minute one so even though I finally did win it it really makes me wonder is it worth it. Thoughts and opinions welcome as always.

I go into today with a bankroll of $583.72 and the $5,000 goal remains unchanged although I might have to increase that by a couple of thousand because when I start playing live full-time or at least make my attempt to do so I will be doing so at the Golden Nugget with the first tournament of the day being at 11 a.m. and the other tournament that I would be playing there would be 7 p.m. so that's going to give me a lot of down time in between hanging around doing nothing.  I'm thinking of simply sitting in the $2/$4 limit game in between tournaments when the time comes, but I think it would be prudent to have a separate bankroll for that. Granted it would only be filler time, but still nonetheless I wouldn't want it interfering in my live tournament bankroll. I definitely want $3,000 for the live tournament try, I want to keep another $1500 or $2000 online so if I wanted a separate limit cash game bankroll I would want it to be $1500 or $2000 so instead of a $5,000 goal that would be either a $6,000 or $7000 goal. 

In a perfect world I would simply play a tournament in the afternoon, but I'm pretty strict about what I will and will not play. It would have to be a live tournament with a starting stack of at least $10k and the buyin would have to be roughly in the neighborhood of $70, and it would have to have a structure similar to the Golden Nugget tournaments and that ladies and gentlemen is not happening. In order to find a similar structure I would have to spend at least $125 per tournament and that will be too high to start out with anyway. The Golden Nugget has a $50 tournament at 3 p.m. and one could always say I could just jump into that, but that only has a $5k starting stack not to mention a 35% juice so no thanks, but I have made no decision as of yet about increasing the goal dollar amount.  I may decide to keep things as they are and when the time comes only play the 11 a.m. live tournament and then head home and in the late afternoon and evening so the possibilities are still up in the air at this point.  Right now I'm just concentrating on playing good poker and continuing to increase the earnings. 

Well that's going to wrap this one up. Me and my new kitty, Diamond are getting along splendidly although she still is a little skittish, but it's going to take her time to get used to her surroundings. I've never seen a cat that likes to hug a human being as much as she does, but cat and owner are definitely bonding......... or is that human and owner it's always hard to keep that straight. So with that said, take care everyone, and I'll see you at the tables.


Bankroll:  $583.72
Goal:  $5000
Progress:  11%

 

6 comments:

  1. Congrats on the score -- yes, I'm talking about getting Diamond! Also, good job on the tournament success.

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  2. Congrats on taking down the tourney...Have you paid back the money you borrowed from the roll?

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  3. congratulations of finding such a nice landlord. most places wont let u have a pet at all, or those who do, only let u if its a dog. as evidence, notice the huge numbers of those walking with dogs thru the casino, yet no one is with a cat.

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  4. If you feel uncomfortable with it, I would suggest waiting until you get to the $1000 bankroll to increase the tournament costs to $20. Sounds like you are doing really well in increasing your bankroll, good luck with it. I will be jealous if you do manage to play full time! Which poker site.

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