I probably should have made about 20 entries here by now. So let me just catch this up to today.
My basic plan at the moment is to grind in SNG tournaments and use the profit from those to finance entries into the larger multi-table tournaments, cashing out the winnings from the MTT’s and any extra from the SNG’s when I can. Hopefully getting to a point where I can make one to three thousand dollars per month within two or three months from now.
I’ve been playing the micro-stakes for a few months off and on, becoming more serious, and dedicating 6-10 hours per day to poker over the last month or two. I play at least 5 days a week, and occasionally play 2-4 hours on Saturday or Sunday. I started with the $1 tournaments and worked my bankroll up to enough to play the $3 tournaments. So far I’ve managed to multiply my starting bankroll by 10 times, achieving a 40% in-the-money rate at the $3 games. I’ve gone from a single table at a time, to now playing 4 simultaneously and still increasing my ROI (return on investment). In the last week or so I’ve made some very good improvements on getting more 1st or 2nd finishes, rather than 3rd, and that is really improving the bottom line. I owe some thanks to Collin Moshman for that. I’ll have a review of his book up shortly.
My day basically consists of anywhere from 4 to 8 large field tournaments, and anywhere from 10 to 20 SNG tournaments. As I increase the number of tables I can play at one time, the number of SNG’s will grow. My aim is really to get in 100 SNG games per day, and then just play as many multi-table tournaments as are available throughout the day.
It may not sound like much up to this point, but even at micro stakes, the numbers are pretty amazing. I’ve played literally thousands of dollars worth of tournaments, and never had to deposit any money online after my initial $20. (I actually started by depositing $50, but lost $30 of it very quickly fumbling through different types of tournaments and cash games as I figured out how everything worked. When I decided to actually start tracking my play and account for everything, I had $20 remaining to start with.) My net profit is only a few hundred bucks right now, after rake and all that, but in reality, I’ve managed to play well over $2000 worth of games with $20. Not too shabby I think.
I’ve made a few stabs at the $5 games, but seem to always hit a wall at a certain point and my bankroll has gone up and down hovering around the same point a few times. I’ve basically broken even on those over 300 games. As well as I’ve been doing on the $3 games lately, I’ll probably be making another run at the $5 games next week. I don’t think I’m going to be quite so stuck this time. I’m fairly sure that the next jump I make up to the $5’s is going to be permanent, and hopefully the $10’s won’t be too far after that. My plan is to maintain 50 buy-ins for whatever level I’m currently playing and use any extra profit for the mutli-table tournaments.
I’m playing in MTT’s from $1 to $3 buy-ins. I’ve made quite a few finishes in the top 100, my best so far being 25th place. I’m absolutely dying for that first win.
I busted out of 2 tournies today with no cash, and then finished 155th out of over 4100 entries in the final one I played today. That at least gave me back my MTT buy-ins for the day and a small profit on top. I did extremely well on the SNG’s, ending the day with over a 150% ROI and something like 60% in-the-money for the day. I freaking love days like that. Nothing makes me feel better than looking myself up on Sharkscope and seeing “Super Hot” next to my name. (I just hope I can still do that when I’m playing for $50+.
I guess that’s about it for today. I’ve got other stuff on my mind, but it really should go into a separate entry. I’ll have to see if I still feel like writing after I walk the dog and finish my wine.
May the fish be with you…