First things first.
Zin said in a comment
Congrats on taking down the tourney...Have you paid back the money you borrowed from the roll?
Thank you very much. I decided to remove the initial $260 I started the year off with so that I am working on just earnings. I currently owe my bank roll $47 which will be paid back March 4th.
So let's get down to business. My bankroll management plan is pretty much set in stone at 50 buyins for all tournaments above $3 rebuys. For once I have not changed it in this entry from the last one. My last post I said I would be grinding the $10 rebuys which cost me a total of $20 each once I hit $1,000 which happens to be 50 buyins and I am still quite comfortable with that plan. However, I do intend to be extraordinarily strict about it which means when it comes that I start a day with a bankroll of $1,000 and I play my tournaments and I happened to end that day with a bank roll of $990 well that's $10 less than a thousand bucks and the $20 tournaments will be eliminated the following day and every day thereafter until I have $1,000 or more.
MIB and I decided to enter into half action arrangement a few days ago. The $25 super stack, the $30 $3k Gtd, three $10 deepstack rebuys, and the $20 deepstack tournament. My cost for 50% of this action was $65 then of course there were the five tournaments I played on my own dime, three of the $3 deepstack rebuys and two of the $5 deepstack rebuys for an additional $38 and lo and behold my total cost for the day was $103 and it was not looking like it was going to be a profitable day, but I pulled one out of the fire with a sixth-place finish in the $30 entry for a $234 return in essence making us fifty bucks each. Nothing like getting that base hit with runners on in the night to take the lead. A win in that one would have been the grand slam, and even though I wasn't able to accomplish that I was able to get that base hit we needed.
With the bankroll management strategy that I want in place, I am also going to utilize that plan for live play when that comes about. So for the $70 tournaments that I plan on grinding at the Golden Nugget I will start off with $3,500. I ran into a problem however in so far as what the hell am I going to do in between the 11 a.m. and 7 p.m. tournaments when the time comes. If I get knocked out of the 11 a.m. tournament in the first hour that's a long time to just sit around in a Sportsbook waiting for the 7 p.m. I've looked on poker Atlas for a possible mid afternoon tournament, but none of them has the structure set up I like the way the Golden Nugget does. The only one that comes close is the 2 p.m. $100 tournament at Caesars, but $100 will be a little higher then I want to be playing with a $3,500 bankroll.
There really is no reasonable alternative except to simply resign myself to playing the 11 a.m. tournament and then returning home and grinding the $3 and $10 deepstack rebuys, $20 deepstack freeze-out and $10 PLO, and $5 deepstack rebuy all beginning roughly at 4 p.m. The other choice would be to just stay right there at the Golden Nugget and play some $2/$4 limit Hold'em, but the thought of doing that five days a week has about as much appeal as an impacted wisdom tooth.
In March, April and May I will be depositing onto WSOP in addition to paying back the $47 I currently owe my bankroll a total of $260. This will give me an opportunity to utilize this money for poker investment purposes you might say and then in June I will withdraw that $260 add to it another hundred dollars from my June check and I will be entering into the 2017 World Series of Poker event number 25 "The Giant" which is a $365 buyin, a bracelet event, and has a 20K starting chip stack with 20 minute blind levels for day one in which they will play 18 levels or down to 10 remaining players whichever comes first and then day 2 and 3 are 40 minute blind levels. I am super excited about this and I cannot wait to experience my very first World Series of Poker bracelet event. Just being in the same casino with the greatest of the greats to say nothing of being in the same general poker area as them will be a thrill of a lifetime.
So let's get you today's update. I started the day with a total bankroll of $564 which under my bankroll management stipulations means that if I wanted to, and if they were available, I could play in a maximum of six $10 tournaments today. Of course there are not six $10 tournaments available, but you get the general drift. Two things of note. I am not giving up on the $10 6-max PLO even though I have struggled in it because what the hell, it took me a 117 tries to win the $800 guaranteed NLH deep deepstack rebuy tournament so patience is a virtue and if it first you don't succeed keep grinding it out. I also added in the 3:15 p.m. $5 two rebuy 1 addon 6 Max tournament even though they screw with the blind structure in this one, but it only amounts to getting to certain levels two levels faster than normal. I figured since I have an edge in any tournament I play it was worth it to toss this into the daily play schedule.
I met up with MIB on the Strip today so I could pay him his share of the profits from the stake which was $50 and we just hung out in a Sportsbook and chilled for a little bit and I was able to get back to the house in time for the 12 noon tournament. The previous day I had lost $44 in buy-ins, but cleared another $10 bonus so it was a loss of ($34). I was hoping I could get back to cashing today and it turned out to be a pretty good day. In the 12 noon tournament I ended up finishing 5th for a $53.28 return. The $5 two rebuy one add-on deepstack that changes the blind structure somewhat is a tournament that I have kept avoiding because of those changes in the blind structure, but decided to start playing it anyway as I mentioned before and I ended up finishing 4th in that one for a nice little return of $72.57. I finished out of the money in the 7:30 p.m. $800 guaranteed whatever and QQ into AA.
For the second day in a row I've played a $5 rebuy satellite for a total cost of $10 each day and a shot at an entry into a $200 tournament on WSOP and for the second straight day I had no fortune in that one. It does make me wonder if it's a waste of money to enter into these satellites because I mean after all my $10 is not going to return me any immediate cash only get me an entry into a bigger tournament, but what a tournament that would be if I could ever have a deep deep Run in it. You take this past weekend for example and that $200 tournament had 120 players and paid over $6000 up top. That single tournament alone could get me to my goal real fast, but I have to ask myself am I looking for a shortcut and I shouldn't be?? I'm really not sure of the answer and even if the answer is yes I'm not really sure if that's altogether a bad idea. It is $10 a day, but as I have said so many times everything is about risk verse reward and what a reward something like this could provide in one shot. The main problem I have with these satellites is they are all turbos and as has been discussed before my style of poker play is not geared toward turbos. It is for this reason that I take whether or not I'm going to play these on a day-by-day basis and make my decision as to whether or not to play them each day without planning ahead on them.
Another non cash in the $10 PLO 6 Max makes me 0 for 12 for these things in February and 0 for 15 in them on my own dime this year. I actually have played them 16 times and won one of them but that was on a stake with MIB, but on my own dime 0 for 15 this year. Part of me says give it up Flushh and another part of me says hey it took you 116 tries before you finally binked the $800 guarantee at 7:30 p.m. I believe that I am making some errors in this and I believe the error constitutes playing big draws over aggressively. You take tonight for instance with an open ended straight flush draw and an over Pair of Kings I shoved the rest of my 7000 stack on this. I believe that was an error because I was fairly certain the kings were no good although miracles do happen and the absolute seduction of these huge draws that I play aggressively and probably over aggressively is downright intoxicating and probably accounts, and this is no joke, accounts for seven or eight losses in that 0 for 12 run. Obviously I need to chill out with these things. I need to just call it down and see if I actually hit these draws then make my move because playing them hard and fast is definitely not working.
So today was a profit of $77. Bankroll at $641 total and 12.8% towards the goal of $5,000. A decent day, not a great hourly for nearly 12 hours of grimding, but the hourly will be more reasonable later on down the road. Until next time, take care everyone, and I'll see you at the tables.