Sunday, June 25, 2017

A Couple Quick Comment Responses

Pokerdogg said:

I have asked this question before and I don't think you ever answered it. Why are your volume so low? Using your 45% ROI, and let's say 18 full days equivalent and $25 total profit, that is $3.09 per day of average buy in. Why are you averaging 3 tournaments a day? This makes no sense, unless the ACR site is dead and run only 4 or 5 of these a day. Volume is your friend in online poker.

Sorry there Mr Dogg I thought I had answered this. On ACR the available $1.10 tournaments are as follows. That is to say the available ones that I would play because I'm not waking my ass up at 6:30 in the morning for a 7 a.m. tournament and I'm not staying up around the clock.

4:45 p.m. PLO 6 Max $100 Gtd
5:30 p.m. $1.10 NLH $50 Gtd
7:20 p.m. $0.55 PLO8 Rebuy
7:45 p.m. $1.10 6 Max KO

Memphis MOJO said:

Why not give SNGs another try. The are grind, but pretty much a sure thing for someone like you.

I did for 2 days. If I had to do this for one more hour I was going to smash my skull through the nearest wall. I hated it!!

Something had to be done and I came up with a decision that threw bankroll management out the window and gave me four days of Poker life left. That post will be coming relatively shortly.

Thursday, June 22, 2017

Rock And A Hard Place

I feel like I'm caught between a rock and a hard place also known as the old catch-22 and no matter how you look at it, what it boils down to is that without an influx of serious cash to add to my bankroll I'm not going to get anywhere fast. 21 days of June complete, 16 of those days full poker days, total earnings and this is including a couple of dollars in rakeback which granted ain't much, but total earnings of $25.  something has got to give. I've got to figure out a way to increase earnings to get me into actual tournaments that are going to actually produce some real money. Playing in tournaments that are paying at least or close to $100 up top if not more comma but at the same time not having to face fields that contain hundreds of individuals, the bottom line is I need to be playing in tournaments that are $5.50 and up.

However, there is the ever so slight problem of available funds. Sure, I could take my $125 and say let's shoot the moon and start playing those $5.50 tournaments. Then again I can play Russian roulette with six bullets in the revolver and neither one of those ideas is really a prosperous one. I could continue to play these micro tournaments until the disability widowers benefit kicks in hopefully in November, and on the other hand I could tie a rope around my throat and choke myself until I pass out, but neither one of these options is particularly appealing. 

What is it that I can do that could generate earnings that could be utilized towards some buyins at the $5.50 tournaments and even higher. I could try no limit cash games again only this time only play a single table of them, but then again I could also paint a wall and watch the paint dry because the two activities have approximately the same level of excitement for me personally. Yeah let's scratch that thought right there.  I must admit that if I did add cash games then it would increase the rakeback I'm getting. I mean hell if I could work that sucker up to a couple of bucks a day it would be more than what I'm making at the tables right now.  ACR does have a limited amount of limit games which I do enjoy much more so than No Limit, but the only thing that seems to go and be played on a steady basis is $0.04/$0.08 and $0.40/ $0.80 Stud Hi-Lo. Obviously with $125 I should not be playing the latter and I can't imagine that the former providing that much earnings potential. Not to mention Stud in general could possibly make me want to smash my skull into a brick wall. If you think that bad beats happen in Holden try playing Stud sometime. Believe me you ain't seen nothing yet. However it would generate a certain amount of rake and thus generate a certain amount of rakeback since I get and am on 27% rakeback on ACR, and  assumedly generate a certain amount of earnings. This is a possibility and let's put this on the back burner for a few moments.

The only thing that is left is SNGs. There's only one little problem with SNGs, I don't do well. The last time I tried this little endeavor for NLH SNGs I played in like 36 of the damn things and came out stone-cold even. Yeah that's two days of my life I'll never get back. Maybe I didn't play enough of them, maybe I was just in a cold run, then again maybe for me breaking even is a heater for all I know.  It is giving me something to think about. The lowest SNG on ACR is $1.65 and if I could by some miracle play 20 a day and get and maintain a 10% ROI in them that would be an average earnings of $3.30 a day. Work my way up to the $3.30 SNGs  now we're looking at $6.60 a day plus whatever money I could make playing the stud Hi-Lo game plus the right back I could actually make enough to play a couple of the $5.50 tournaments each day and a deep run or two in these and all of a sudden I'm looking at a bankroll that has hundreds of dollars in it, not treading water trying to keep it above the $100 mark.

I'm sure I don't need to remind anybody because my readership has memories that don't quit, but this is the exact thing that I have been trying to avoid. I mean I've had these thoughts going through my head recently and I have been saying no I'm not going to do it this time, I'm going to stick with my micro tournaments, but after 21 days, 16 of those full poker days and only making $25, I feel that my continuing to say no I don't want to do this is just being stubborn on my part. It's another case of being caught in a catch-22 because half my readership is going to be happy that I am trying something to increase the earnings and the other half is going to put me down for changing up my plan again. No matter what I'm caught between a rock and a hard place.

But no matter what anybody may say, pro and con  I don't see any other choice. I mean I have an ITM percentage of roughly 33%, have made 12 final tables and I'm still only earning $25 total. Something has got to give. I think I'm going to try this on a temporary basis and see what happens. If it proves profitable continue with it, if it doesn't prove profitable go back to my micro tourneys I mean at least I am earning something, but at the same time I'm going to have to give myself some sort of numerical testing timeframe. Let's say a 1 week test, that should give me enough time to play at least 100 NLH SNGs and see what the results look like. At the same time play the the micro Stud Hi-Lo and see how much I can make from that. A one-week test and see if I actually have a bankroll left at the end of that time. See how I look after the first 100 or so SNGs and then decide how to proceed from there.

Tomorrow is Thursday and Friday I have a doctors appointment at 9:45 a.m. so it should not interfere too much in the grind. However, I feel I've got a battle coming up with this new doctor on Friday as I saw what my test results were from the blood work online. Thanks to my friend Michelle as she instructed me how to obtain this information and it looks like I am a pre-diabetic which means my sugar is high but not high enough to have type 2 diabetes, and it looks like I am also borderline on having high cholesterol and I am sure that me and my new doctor, whom I affectionately already refer to as that Crotchety Old Goat, is going to have to something to say about this. I get the feeling that when I do my monthly shopping trip on the 3rd of the upcoming month he is going to want me to be eating things that you would find in a rabbit cage.

That's going to wrap this entry up and the next entry will be one week from today. Next Wednesday night I will write an entry telling you how things went. If I feel up to it I might even do a midweek entry just to keep you up-to-date on how things are going. Right now they are going very slowly and I just hope that I don't take a really bad hit in doing this. I hope it's not a case where I should just be satisfied with the small amount I'm making because it's better than losing, but we will see what there is to see. No matter what I think I need to put a solid effort into this and see what happens with the first 100 played. Until next time take care everyone and I'll see you at the tables.


Bankroll:  $125
Goal:  $1000
Progress:  12.5%


Wednesday, June 21, 2017

Friend Or Foe I Really Don't Know

Apparently Caleb decided that he had a few things he wanted to say to me so much so that he decided he wanted to submit it twice, but I figured just posting it once would be sufficient, but nevertheless I guess I should respond. I'll take each point and try to remember not to tell him to take a flying leap in the process. Caleb's opinions will be in bold print.

Caleb said:

Tournaments have a shit ton more variance than cash games do. A great tournament player can have a losing *year* playing a full schedule, while it would be extremely unlikely that a great player will have a losing year playing cash games.

That is your opinion and perhaps that is your experience. My experience however is completely opposite. I could post a list of screenshots, I could tell you about the times and multiple times where I have flopped a set and lost eight out of 10 times with it, I could tell you all sorts of stories but it would be meaningless because you've already got your mind made up so nothing that I say will make any difference, but the fact of the matter is with me tournaments are the steady money. Don't get me wrong I have my downswings like everybody, but overall they have a much more steady increase on the graph.

You seem to think that the only reason for your losing in cash is because of variance. Not only is this incorrect, it is also a fairly lazy attitude to have. You likely have leaks, and may even be -EV in these cash games, so to simply handwave away your results as mere variance is going to cost you money in the long run if you don't start working to improve your game.

You Sir know nothing of my game, but I have had an eyewitness account of what has happened to me in cash games, I have had an eyewitness account of the hideous beats that I have taken for stack after stack after stack after stack, but immediately you assume there's something wrong with my game and furthermore when it comes to poker I put in a lot of hours scratching and clawing for a dollar or 2 so you may call me many things, but lazy is not one of them!!

I also detect a bit of a false confidence that borders on arrogance. When you claim that "I will never be outplayed," you are not being confident, you are being naive.

That's right and I'll say it again I will not be outplayed I will only be outdrawn. That is a fact and it is not arrogant it is confidence because if I don't have that thought process in my mind when I'm walking into a live tournament I might as well turn around and walk right out again and the same thing goes for online, I better have that confidence in me or I better not play that day.

This somewhat reminds me of Mike Matusow from several years ago when he made similar proclamations. Well, the game passed him by and it wasn't until recently that he started to work on his game that he started to have success again.

Oh joy you're now comparing me to an ex-con druggie. Thanks for the great compliment and take a long walk off a short pier while you're at it.

I hope you don't take this the wrong way as, I, and I'm sure everyone who comments here on your blog are sincerely rooting for you to succeed. I just wanted to stress how imperative it is to continue to work and improve your game.

Well geeze just why in the world would I ever take something like this wrong. Let me see you have called me lazy, arrogant naive, compared me to an ex-con druggie, and you have no idea of the actual details of the losses, the wins, or anything else for that matter, but goodness gracious how could anyone ever take something like that wrong.  When I first read this I just chalked this up to another hateful troll because Lord knows I've got a slew of them out there, but in your last paragraph you actually have the statement that you are rooting for me and if you are that's very appreciated it really is, but unless you have been beside me this entire time and seeing what I have experienced then as far as I'm concerned you can take your assumptions and shove them in a variety of internal places.  You assume a lot and you know what they say about people who assume.

Thursday, June 15, 2017

Slow Progress And A Major Opportunity

The progress is going slow, but it is going in a positive direction for the month of June. Entering today's action earnings were $31.70 over the first 14 days however this was not 14 full days of play. A full day  typically for me is 8 to 10 tournaments on average per day, sometimes a little more if I hop into a private tournament or two whether that be a pay tournament or freeroll. I only played a full day 9 of those days. On the 1st, 7th, 9th, and 14th I only played in 5, 1, 1, and 3 tournaments respectively, and on the 4th I took the day off completely. So those for partial days would act up add up to a full day so in the first 14 days we can say I played 10 full days of tournaments. The results we're $31.30 in total earnings after the first 14 days and 10 full days of Poker which comes out to $3.13 per day. The reason I point this out specifically is because of the point I want to address. 


"Personally, winning $22 in 9 days is entirely to much effort for me FD puts in full days of grinding so far for the month with a profit of $22 (less than 2.50/day.)."


The above was a portion of a comment that was left on the post I did two entries back. And I focus on this because I know for a fact this is the attitude of many of my readers and it's really an attitude I just don't understand. Being a tournament player is so different from being a cash player in the fact that when we hit we hit for a amounts that increase whatever we're making per day by a factor of four or five in one fell swoop. Take last night as an example yes I was only making about $2.50 per day, but I finished 15th out of 235 players in a $3.30 NLH $500 Gtd tournament. If I had won that tournament it would have paid $136 up top so all of the sudden with a single win I'm now making 4 times more per day than what I started the day at. This gives the opportunity to play tournaments that cost more and winnings and the higher price tournament increase that amount per day maybe six seven or eight times of what it was. So I can go from making $2.50 a day to $10 a day to $40 a day to $100 a day and more.  It's a progression, but in order to take advantage of this progression you do have to be very patient about it knowing your times are going to come. 

At the end of play yesterday total earnings were  $31.30 so that's an average of $3.13 per day since I have calculated 10 full days where I played. Today was a decent day going 346 with two final tables .  Only made about 14 bucks but that's okay  these are micro tourneys  and when they pay 18% of the field  only the top three again in anything  relative.  However, during this time I have gone 28 for 78 in the regular tournaments with 10 final tables, but no wins yet. It is an ITM percentage of 36% and an ROI of 45%. Total earnings are now $46.74 over 11 full days of tournament play. That puts it at $4.25 per day. As you can see it is increasing, slow but sure, but it is increasing.  All in all I'm very satisfied with the results thus far for June. 

Another point I wanted to hit on is why some readers notice that I will change my approach from time to time is because of the slow progress that tournaments can produce. I have to admit during the month of June it has happened again. All of a sudden my mind started going through what can be done to increase the pace.  Cash games and SNGs came to my thoughts and each one of these is not my strong point yet a very large part of me was thinking "what happens if we give it one more try" "maybe this time it will be different" "maybe employing these along with the tournaments could increase this pace". These thoughts entered my mind just as they had so many times before. The only difference is this time I'm not going to fall victim to these thoughts. That has been the problem in the past I'll start adding cash games or think I should switch over to them for a couple of weeks and I will get hammered at it because of the increased variance and cash games vs tournaments. Or I'll add SNGs as I have done previously only to play 36 of them and come out absolutely dead even. What's the point. I know what kind of a player I am I know what I'm best at so no matter what the circumstances are, no matter how slow the earnings seem to be increasing comma I need to stay the course and at least on this particular occasion I am proud to say I am doing just that.  I did not fall prey to these thoughts racing through my mind. We take our victories any way we can get them no matter how small they may be.

Now for the major opportunity that has been presented to me and actually this is the second time it's been presented to me in as many weeks. Somebody that I have known through blogging for a few years now I finally had the opportunity to meet in person when he got in touch with me and asked me if I would be interested in being staked to a tournament in the Grand Poker Series at the Golden Nugget. Standard staking agreement meaning I have no financial liability should I lose and he was willing to split any earnings 50/50. His name is Rhett, that's his real name as he told me there was no need for an alias and two Sundays ago we met for the first time at the Golden Nugget. He immediately struck me as a very decent likeable fellow and I thoroughly enjoy the conversations that we had the opportunity to engage in. We each registered for the tournament and tried to do what we could do.

On level 2 I was able to double my starting stack of 15K to just over 30k when with one limper and blinds of 50-100 I raised to 500 and two players to my left 3bet me to 1500. I could have called here and trapped him on the flop, but that does not come without certain risks, or I could have 4bet a moderate amount, but something told me that he would call a shove. I shoved he thought about it for about maybe 10 seconds and called with AKo. A queen High flop and nothing more on the turn and river put me at over 30k.

Levels 5 through 8 was like walking through a dead zone. During the course of those two hours I only received 4 playable hands and that was it. Although the blinds and antes weren't extraordinarily large they still cost my stack a good portion.  During a couple of the breaks the one and only Tony Bigcharles joined Rhett and I outside of the Grand Room where we chatted just a little bit as Tony was in the Omaha8/Stud8 tournament I believe it was. Like most in the poker community Rhett knew of Tony through blogging. Talking with Tony is an interesting experience as anyone that has done so will know. When Tony gets on a subject he has a lot to say and sometimes I swear he doesn't take a breath in and only exhales lol. 

Levels 9 and 10 I picked up some pots, but they were only small and finally by the time I got to level 13, I was just dwindling and dwindling when I finally shoved with a one gap suited connector with about 6 big blinds left. The small blind called with 2 overcards which considering what I had wasn't difficult to have and if that was the end of the story I would have been very happy with this as although I was a 3-2 to underdog, at that point in the tournament I was willing to take those odds, but unfortunately I also ran into the big blind who woke up with AA.  There was actually an eight on the flop and I had life, but the river paired the queen that was also flopped not hitting any players and giving the AA hand top two pair and the pot and I was out.

I felt bad that I wasn't able to make money for us, but Rhett seemed satisfied with my performance and asked me right then and there if I would be interested in doing another stake in a couple of weeks. Obviously I'm not going to say no to this generous offer and that time has come and tomorrow Friday June 16th, 2017 I will be playing in event 27 of the Grand Poker Series at the Golden Nugget. The same tournament as last time. A $150 buy-in with a 15K starting stack and 30-minute levels and a delicious-looking structure. Obviously no one can know what's going to happen, but like last time I will play my heart out and do my absolute best although while texting I told Rhett that since he was the one that was doing all of the risk monetarily that if I do end up cashing this time I did not want it to be a 50/50 split that he definitely deserved at the bare minimum at least 60% of the take if there is any take to take home that is.

That's going to wrap this entry up.  it's now 10:36 p.m. and I want to be heading to sleep by midnight so that I get at least a solid seven or eight hours shut-eye and be primed and ready for tomorrow. I will be doing updates after each level on Twitter. My Twitter handle is @flushhdraw for anybody that's interested. So that's going to do it for now.  Current bankroll is $146.74, but who knows, after tomorrow it could be significantly more.  Maybe not but to get rid of me it will either take a bad beat, a cooler like running Kings into Aces or an extra long period of card deadness. I can be out drawn, but I will never be out played. Take care everyone and I'll see you at the tables.


Bankroll:  $146.74
Goal:  $800
Progress:  18%

Sunday, June 11, 2017

Comment Responses

Ace said in part:

Have you thought about doing one of the monthly poker room promotions around town? I think Treasure Island has a weekly promo

And Thomas Toole lll added in part:

I have suggested this in the past as well. 

I admire FD love for poker and grinding it out. Personally, winning $22 in 9 days is entirely to much effort for me FD puts in full days of grinding so far for the month with a profit of $22 (less than 2.50/day.). 

I would much rather see him save the $8 daily buy ins and play a cash game for 2 short buying or tourney when the funds are available to play 2-3 live tournies in a day. Micro stakes tournies & cash are no means to an end goal. 

Maybe he could get a stake for the cash games at TI. Buy in for the minimum and any losses of the stake comes out of the $600 rakeback. This is something I would support and consider helping to fund.

Guys here's the problem. I hate No Limit cash games. I hate saying the phrase No Limit cash games. I have played them live I have played them online and each one has all the excitement of watching newly applied paint on a wall dry. Anyone and I mean anyone who went into something like that whether on their own dime or a stake that hates every second of being at that table is not going to play there optimum. They will not be playing there A game every step of the way and there is no way in the world I would risk somebody else's hard-earned cash and their trust in me when I know damn well it is very very very likely, that I would make mistakes or play hands that I shouldn't just because of my mindset and boredom of being in that game. Ig somebody wanted to do a stake based on me playing $3/$6 ot $4/$8 limit Hold'em hell yeah bring it on. Or if they wanted to offer me a stake on a certain number of live tournaments played I would jump at that opportunity, but accepting a stake with the intention of playing no-limit cash games, knowing that I would not have the proper mindset going in isn't something I would ever do.

Tony Bigcharles said:

I'd be more inclined to wonder what u were doing in the sportsbook

And Pokerdogg added:

It is a valid question regardless of who asked it.

Well not that I think this even deserves an explanation, but ACR has its own Sportsbook and you can bet as little as a dollar. So I take a dollar each day and I put it on a 4 or a 5 team parlay for the baseball games and you know maybe I win $10, maybe I win $12 maybe I win $7 depending on how many teams I played. Overall on the year even with the dollar parlay that I lost today I am ahead $18.79 at the Sportsbook. It's not like I'm losing nor am I risking very much and I never risk more than a dollar and every so often $2 in a single day, but the fact that I show an overall profit must mean it's not the worst idea in the world.

Friday, June 9, 2017

My ACR Results Review And The Start Of June

This is a pretty long entry so you have been forewarned.  

Taking a chance, considering I have certain concerns about WSOP, I nonetheless decided to make a return to that site, but this lasted only a single day because the very following day in their Infinite wisdom or lack thereof, they decided they did not want to cater to the small bankrolled players apparently and took away all $1 and $2 regular tournaments.  The only reason for the return to that site was because I realized that on ACR I was facing three times as many players in the $1.10 tournaments to get only double the amount of money up top because they pay so many spots out and for roughly the same buyin. Oh well if they want to have that kind of attitude to hell with them. ACR has a much better selection of tournaments even for those of us with small bankrolls.

So back to ACR for me and this time it would be permanent. I got my Bitcoin all straightened out so time to start utilizing that form of payment to establish a history of Bitcoin transactions, but according to some reliable sources I need to set up with a third party as well. I noticed deposits over to ACR from Coinbase are coming with a 12.9% fee. Sending money to the bank account is considerably lower so any future deposits will be done via MoneyGram since ACR will give me my Moneygram fees back from what I understand and I will utilize Bitcoin for the withdraws. The bottom line is I ended up starting June with a bankroll of $100 exactly. 


My time on ACR this year from January through May 31st has not been a profitable one. 
 
MTTs:  ($108.15)
SNGs: 23 for 60:   ($15.11)
Cash Games:  ($53.91)
Bonus:  $82
Rakeback:  $14.21
Casino:  ($5.15)

Sportsbook: $27.79

Net Total:  ($58.32)


Don't even ask what I was doing in the cash games when I have sworn off of them but at the time I figured hey a different site maybe something will happenen. It happened all right but in the wrong direction. Cash games just have such a higher variance than tournaments, but I tried and I move on. 
Obviously my biggest concern is my performance in tournaments. You would think that with them paying 18% and 20% of the fields that I would be crushing it, but that is not the case. a funny thing with tournaments over on ACR is that they have varying degrees of late registration times not to mention various structures.  The decent guaranteed prize pools for a low buyin have either a 3 hour or 5 hour late registrations and in those specifically I have lost just over ($106).  Here is the breakdown when it comes to these late registration times.


1 Hr:  $32.28
15 for 55 / 27% / 37% ROI 

1.5 Hrs:  ($27.78)
10 for 52 / 19% / (- 31%) ROI 

2 Hrs:  ($1.28)
20 for 69 / 29% / (-1%) ROI 

3 Hrs:  ($80.54)
3 for 34 / 9% / (- 89%) ROI 

5 Hrs:  ($25.49)
1 for 13 / 7% / (- 74%) ROI 


Now I grant you the sample size is not large but there is a definite pattern to this. 3 hour and 5 hour late registrations are atrocious for some reason.  A combined for 4 for 47 and losses totaling over ($106).  I don't know what the exact reason has been for the poor performance from January through May. It could be the time of the late registration, it could be the fact that those tournaments have hundreds of entrants in them and I just have not run deep yet, it could be I was not observing correct bankroll management as in playing $3.30 tournaments with about $50 or $60 on the account and the Poker Gods decided to bite me in the ass over that maneuver, and it could also be as far as the overall picture goes for these five months that I was playing the majority of these when I was going through my period of depression. 

Obviously my mind was not 100% on things. I'm not looking for an excuse, but more so a reason and I really feel that being as depressed as I was with my mind not totally on things that was the major reason for my poor performance. Since I am out of that depression and back to my fully optimistic happy-go-lucky self that has that feeling within mind and spirit of complete invincibility, the only way I was going to find out for sure was to see how June would go. If all of a sudden I started turning profits even if they were small profits because of the low buy-in amounts I'm forced to play that would go a long way in telling me one way or the other.

After the first 5 months I am showing a profit this year, but the profit is only a little over a couple of hundred bucks taking into consideration the over $500 in online earnings and the ($276) in live losses thus far and withdrawals of $169.95 in which had nothing to do with having fun but had everything to do with either half the buyin on a half action live stake tournament or just putting food on the table at the end of the month when things ran a little short.  However, although I have very little left over at the end of the month anymore, I think I've created a monthly budget where I will not have to touch my poker money.  I must admit however, I do believe participating in those half stakes was a mistake in of itself.  Playing a tournament sporadically here and there is not usually going to add up to profits and I think I am much more likely to show some live profits if I can string four or five tournaments played in consecutive days so stepping forward that is the primary goal.

So it's time to build and build some more, but what will be the precise monetary goal here on ACR and what exact bankroll management plan do I want to employ. With so little left over in my regular monthly finances it is imperative that I protect my bankroll to the extreme and this means setting up a bankroll management plan where I am almost sure not to tap out because my bankroll is not easily replaceable and at the same time being able to go out and play live poker while at the same time keeping enough online to go back and do that as well if needed or for the days I just don't physically feel up to being out and about because those days do happen. 

ACR is an offshore site I believe in Nicaragua somewhere so therefore it is not a place where I want to keep a thousand dollars on it or even several hundreds of dollars so periodic withdrawals and then stashing that cash offline is going to be something that I am going to be doing. I would be okay with leaving $300 on at all times. And therefore feel that everytime I make a hundred dollars over that I will withdraw it maintaining that $300 online account balance. 

I have decided to go with a bankroll management plan that utilizes an average buy-in calculation which is calculated on a daily basis utilizing the average buyin of the tournaments that I plan to play. 50 seems too low and 100 seems ultra-conservative especially when the tournaments I'm dealing with are paying 15% to 20% of the entrants.  When I look at the tournaments in the morning that I wish to play that day, I add them all up and see how much they will cost, divide them by the number of tournaments that are intended to be played giving me my average buyin for that day. Provided I have started the days poker with at least 75 of those average buy-ins in my bankroll, then I can play those tournaments that I planned on playing.  However, if I am so much as a dollar short of that amount I will have to readjust my days' plans. I can go with this 75 average buyin plan, but I must be extraordinary strict with myself, no excuses, no ifs, ands, or buts and I think by utilizing this strict adherence to this bankroll management plan I will be able to not only protect my bankroll, but take shots at the various $2.20, $3.30 and even $5.50 tournaments here and there while I build, build, and build some more. 

There are five standard $1.10 tournaments that I play each day so as an example say I wanted to play those five and I wanted to add a $3.30 tournament in there that would cost a total for the day of $8.80. Now we divide that by the total number of tournaments that covers which in this example would be 6 giving me the average buyin which would be $1.466666. Which I always round up to the next penny which would be $1.47. We take that $1.47 and multiply it by 75 and in this example in order to play those tournaments I planned out I would have to start the day with a bankroll of $110.25. If my bankroll is only $110, because of the strict strict adherence I would have to formulate a different approach for that day. Some may find that kind of adherence very silly, but I believe that not only will it help me now, but it will help me down the road. 

So, it has already been established that if I'm going to play some live tournaments I want to be able to play at least a few of them consecutively to hopefully have a better chance of a deep run or two and establishing some sort of live bankroll. The question I need to answer it how many is that and then I can figure out how much I need to earn before I make that run. Now a week's worth would be about 12 but I'm not even looking for that. I'll be happy giving myself half that number, a 6 shot run at it.  Total buyins would be $420 and add another $80 for traveling and eating expenses, so a nice round figure of $500. So my initial goal is a bankroll of $800 in which I can withdraw $500 for some tournaments at the Golden Nugget and still leaving myself $300 online which is what I want to do and mentioned previously.

So let's talk about June. Over the course of the first 8 days I took one of those days off completely and on another one I played only a single tournament but the remainder of the time was a full slate of tournaments which for me usually means 6 to 9 a day. After the first 8 days of the month of June total earnings are $22 with $20.45 of that coming in regular tournaments which are non private tournaments because there's a variety of different private tournaments I play such as rebuy freerolls, regular freerolls, and actual buyin private tournaments so I separate the two distinctions, but in the regular multi-table tournaments earnings are at $20.45 in the first eight days.  I look at the amount and am pretty much disgusted, but the problem is I'm looking at the amount of dollars that I am making. As it turns out I should be happy with this performance.  In the first 8 days in these regular tournaments I am 16 for 43 in the money which is an ITM of 37%. That $20.45 that I have earned is from a total of $53.47 in buyins which gives me an ROI of 38%. I believe these numbers would be considered respectable by anybody, but I keep looking at the amount of 20 lousy dollars, and I need to stop doing this, because if I continue, I know me, and I'm going to get frustrated and start jumping buyins by adding a few $3.30s and maybe a $5.50 mixed in on a bankroll of less than $130 and that is not acceptable under any circumstances. So instead of simply looking at the fact I've only made a total of $22 in 8 days, I'm going to try to not remember that that is less than $3 a day grinding tournaments for hours on end and instead I'm going to look at my ITM percentage, my ROI percentage, and just look at this as taking one step at a time, but believe me, it is much easier said than done.

Here is tomorrow's schedule.  I ended today with a bankroll of $122.  I also wanted to add in the 12:15 p.m. $2.20 PLO8 tournament for tomorrow  but after figuring the average buyin and multiplying it by my minimum of 75 it would require a bankroll of $123.75 so I am $1.75 short.  Although tempted to do so I will not make up some excuse as to why I can get away with it, I will simply not play that tournament just yet. I also do not include that $0.11 tournament as part of the average buyin because it's so low it would totally skew the numbers and not in a good way.


415pm: $0.11 NLH $100 Gtd
435pm: $1.10 NLH KO
445pm: $1.10 PLO 6-Max $100 Gtd
530pm: $1.10 NLH $50 Gtd
545pm: $2.20 NLH KO $50 Gtd
645pm: $3.30 NLH $500 Gtd
720pm: $1.05 PLO8 Rebuy
745pm: $1.10 NLH 6- Max KO

I also play the 1145pm PLO8 6-Max KO at times, but since it's not an every night happenstance it is not included in my average buyin calculations.


Well, it's not a pretty picture not by a long shot, but I never surrender and I never give up. If anybody can make something happen with this I know I can. I know I have readers out there shaking their heads saying it's not going to happen, but as far as I'm concerned it's already a sure-fire certainty. As long as my monthly budget can hold out giving me the opportunity not to touch this poker bankroll then there is no question about it, it's going to happen.

Finally the personal financial update. I've alluded previously in this post as to how I'm having less money available to me for the remainder of the month after bills and expenses are paid and this is why and what has happened. After being on disability for a couple of years now I was finally eligible and at the same time forced to be switched over to Medicare. There was no choice in the matter and in the process of this I lost certain things which were helping me out and because of the loss of these services my monthly expenses have increased. As for the actual insurance I'm covered 100% on anything and everything, but after everything is figured for the money that needs to be spent on a monthly basis whether by choice or whether by necessity, if I do not owe anybody an outstanding loan, I have about $70 left over for the remainder of the month.  Because of the switch I lost access to a PCA so money will have to be spent on Lyft to do shopping each month, I lost free prescriptions so money will have to be spent for co-pays on that each month, then of course there's my little baby girl Diamond my kitty cat and she cost me a certain amount of money each month, but as far as I'm concerned having her here is simply priceless and you'll never hear me complain about the money I spend on her, but the fact of the matter is it does add to the monthly expenditure and as I said after all the sudden done I only have about $70 left so even my tiny $122 bankroll that I ended tonight with would be somewhat difficult to replace all at once. It also leaves very little room for socializing. Obviously the most intelligent thing to do would be to continue to add this to the bankroll, but of course I like to get out and see friends from time to time, maybe grab a quick bite to eat, maybe someone is coming into town so I can meet up with them and have a drink, but as you can see there's just not much for these things and certainly not enough for all of these things. Careful decisions and choices have to be made.

It's not forever however, because when I turn 50 at the end of October I am eligible for what they call the disability widowers benefit. My late wife made more money in her working days than I did in mine and therefor her disability payment, if I remember correctly, was about $1,200 maybe a little more and the way I understand it, this disability widowers benefit will give me either what I am getting now or what she was getting whichever is higher. I won't get both, but I will get one or the other and if I am right in my understanding of all of this my disability payments beginning as early as November could be increased by over $400 a month. Obviously this is still five months away, but it's better than not having anything to look forward to. However, for the next five months there will simply be a lot of grinding, a lot of adding whatever I can to the bankroll with the very little left over each month, and very little socializing.

Well that's going to wrap this one up for now. Don't count me out, in fact never count me out, because I plan to thrive.  it may take awhile, but I plan on nothing but success in the long run. Until next time take care everyone and I'll see you at the tables.


Bankroll:  $122
Goal:  $800
Progress:  15%