Goal: Profit $15,000 playing live by the end of 2011. I also play poker online, but this goal is strictly a “live” goal.
About Me: I’m a 38 year old man working full time with a 1 year old daughter. I’m estimating that I will have 25 hours/week(or 1300 hours/year) to play poker live in 2011.
Poker History: I believe I first started playing poker sometime in 2004-2005. Like most it was of the local home game variety, totally recreational and mostly small stakes tournaments. I typically did well in these, not crushing them by any means, but I held my own and made enough profit from them to warrant me coming back whenever a friend was having them.
I transitioned to playing micro stakes online poker in 2005, again recreationally. I quickly learned that I had no idea what I was doing. I would deposit $50 and quickly lose it by attempting to play like “the guys I saw on TV”.
At some point in 2006 I got sick of being a slowly bleeding losing player, so I began studying the game. Poker transitioned from being something I did as a recreation to my ‘hobby’. I bought or borrowed any poker book I could get my hands on and attempted to absorb what I could. I was still a losing player, but now I was losing slower!
The turning point for me came in late 2006 when I purchased Poker tracker and began analyzing my sessions and identifying my leaks. A few months after that purchase I went from a losing player to a break-even play over 20k or so hands. It was also around this time that I stumbled onto 2+2 poker forums and shortly after CardRunners Video training.
By 2007, I was a winning online player, again not crushing the games I was playing(10nl & 25nl), but I was winning. I still had no Bank Roll Management(BRM) guidelines, so there were a few ‘busto’ periods in there after taking withdrawals from my poker bankroll to go clubbing, buy food, video games, etc causing me to reload a couple times.
In 2009(or close enough) I began playing live. I’m a social person, so I liked the social aspect of the live game better than staring at a computer screen all night. Although I was a winning online player, it took awhile to adjust to the style played in a live casino. I was a losing player again, however this time it was at $1-2 so I was losing $200 a pop! I hunkered down and worked on my live game, studied tells, re-watched old videos and trolled 2+2 forums...
2010 was a turning point for my live game. At some point early in the year everything just clicked, and I haven’t looked back at that losing player since.
However, adequate BRM is still something I need to define and this next year I’m going to work on that and achieving my goal.
Process to Succeed: To keep this as simple as possible, I will only be tracking my live play(The hours I log playing online at this point are minuscule and the game I play online is normally 2-7 Triple Draw, for all intents and purposes I will assume that my online bankroll and live bankroll are 100% separate)
Although I do have a full time job, I will still be quite conservative with my live BR.
I have basically 1300 hours to make $15,000 so I’ll need to be maintain a win-rate of $11.50 per hour.
BRM:
Live Play - I’ll start the year with a $3k starting roll.
Notes:
About Me: I’m a 38 year old man working full time with a 1 year old daughter. I’m estimating that I will have 25 hours/week(or 1300 hours/year) to play poker live in 2011.
Poker History: I believe I first started playing poker sometime in 2004-2005. Like most it was of the local home game variety, totally recreational and mostly small stakes tournaments. I typically did well in these, not crushing them by any means, but I held my own and made enough profit from them to warrant me coming back whenever a friend was having them.
I transitioned to playing micro stakes online poker in 2005, again recreationally. I quickly learned that I had no idea what I was doing. I would deposit $50 and quickly lose it by attempting to play like “the guys I saw on TV”.
At some point in 2006 I got sick of being a slowly bleeding losing player, so I began studying the game. Poker transitioned from being something I did as a recreation to my ‘hobby’. I bought or borrowed any poker book I could get my hands on and attempted to absorb what I could. I was still a losing player, but now I was losing slower!
The turning point for me came in late 2006 when I purchased Poker tracker and began analyzing my sessions and identifying my leaks. A few months after that purchase I went from a losing player to a break-even play over 20k or so hands. It was also around this time that I stumbled onto 2+2 poker forums and shortly after CardRunners Video training.
By 2007, I was a winning online player, again not crushing the games I was playing(10nl & 25nl), but I was winning. I still had no Bank Roll Management(BRM) guidelines, so there were a few ‘busto’ periods in there after taking withdrawals from my poker bankroll to go clubbing, buy food, video games, etc causing me to reload a couple times.
In 2009(or close enough) I began playing live. I’m a social person, so I liked the social aspect of the live game better than staring at a computer screen all night. Although I was a winning online player, it took awhile to adjust to the style played in a live casino. I was a losing player again, however this time it was at $1-2 so I was losing $200 a pop! I hunkered down and worked on my live game, studied tells, re-watched old videos and trolled 2+2 forums...
2010 was a turning point for my live game. At some point early in the year everything just clicked, and I haven’t looked back at that losing player since.
However, adequate BRM is still something I need to define and this next year I’m going to work on that and achieving my goal.
Process to Succeed: To keep this as simple as possible, I will only be tracking my live play(The hours I log playing online at this point are minuscule and the game I play online is normally 2-7 Triple Draw, for all intents and purposes I will assume that my online bankroll and live bankroll are 100% separate)
Although I do have a full time job, I will still be quite conservative with my live BR.
I have basically 1300 hours to make $15,000 so I’ll need to be maintain a win-rate of $11.50 per hour.
BRM:
Live Play - I’ll start the year with a $3k starting roll.
- I'll never buy into a cash game with more than 5 percent of my total bankroll (there is an exception for 1-2: I'm allowed to buy into any 1-2 game).
- I won't buy into a tournament for more than 2 percent of my total bankroll.
- If at any time during a No-Limit cash-game session the money on the table represents more than 20 percent of my total bankroll, I must leave the game when the blinds reach me.
- I have a strict 2 buy-in stop-loss per session.
- I’ll keep my bankroll in $100, $500 casino chips. Other monies earned from live sessions will be cashed out and transferred into a Roth IRA. For example, a winning session of $337 will be a $300 BR uptick with $37 Roth IRA deposit
Notes:
- I’ll be logging my sessions using poker journal and take notes after each session
- I’ll continue with my studies, mostly books, forums and the occasional video.
Never heard of poker journal before. And the title to your next entry better be, "The Night I Humped Brian the Kid!"
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