Bad bankroll managment.

New update. Boy did I screw up this past Sunday. I did not do well this weekend but then I didn’t do that bad either. I was doing ok and just a tad down when I let one of the online pro’s convince me to play the $30 re-buy on ultimate bet. He was right I should play it, in the sense that it was a tourney full of bad players. No not bad players, horrible players. But, I ended up spending $270 on re-buys (that is 3 buy in's, with the double re-buy), getting for the most part all my money in ahead and I didn’t win one freaking hand. NOT ONE!!! I mean I got a guy to put in all of his chips on a gut shot and ace high against my two pair and he catches his 4 outer. And of course two hands later he blows all the chips. I get Ace Queen vs A9 all in on a ace high board and he catches (I had a pretty good read on this player)…. The final one was I had J-9 of diamonds on a Qd-10d-5c board and get it all in against top pair top kicker, leaving me 15 outs twice or 55% chance of winning the hand and I can’t catch. OK I am whining now but still, I should have been able to win at least once!

OK I was a little sick how that turned out.

Also I bubbled in my bread and butter tournament, two $20-180’s. First one, I went out in 19th place and the second in 20th, money started in 18th place. I played both well but lost some key hands in the later stages of the tournament. I knew I was risking bubbling in both but to be honest I don’t play those just to make the money. I play for top 3 spots and if I am low enough I will risk chips around the bubble in order to get myself to that final table. Just so you know, my record in these 180’s is awesome. I have over a 175% ROI in them, out of the last 100 that I have played I have cashed in 17 and final table 11 with my record as:

1st – 3 times
2nd- 2 times
3rd- 3 times
4th – 1 time
5th – 2 times
9th- 1 time

That is over $6K in wins right there and in total I have netted over $4K. Not bad if I do say so myself, but I can improve that.

I won a bunch of SnG’s that kept me even and made about $100+ in 5 card draw limit. But then in MTT’s I didn’t get a cash. Not one. I played some poorly, one horribly but others I really didn’t do badly. In a $50 I got zero cards and hung around but just couldn’t get anything going. In madness (3 buy in’s total for $30), I got all my chips in QQ vs 99, river 9. Not to belabor the point but I just wanted to point out that I was ahead more than I was behind when the money went in. So I finished the weekend way behind, mainly due to my poor bank roll management of getting into the $30 re-buy on UB.

Once more into the breach....

OK, it has been about a year since I have updated this blog and I have decided to try working on it once more. First thing first, I would like to set my goals for poker this year and review my goals for last year.

My first goal for this year is my bank roll. It was decimated earlier this month when I did a combination of taking money out for a family trip (last month), money for my wife (call it a bribe slash gift), and just poor bank roll management (buying into tournaments that I was used to playing that I could no longer do so due to my cash outs). Well I was down to my last $$ when I started wining again. So it is back to a somewhat healthy stack and my objective is to have a $10K online bank roll. I know that is small compared to most pro’s online BR but I am a small buy in player. I want to have this by June 1st, this means I have to close 5x my current bank roll in 2 ½ months. Can I do it? I think so but only if I play it smart. How I do it I will explain later.

Second goal, I want to play in a WSOP event again. Last year I was pretty discouraged that I didn’t make it into the Main Event. I mean, I came in 2nd 4 different times in tournaments where first place was the package and 2nd paid just as much as last. I did accumulate enough $W on Poker Stars to buy myself into a $2,000 event but I want to play in the ME. So this goal has two parts, 1st part get into the main event, 2nd play in a WSOP event. BTW my $2K WSOP table was sick, Eric Siedel, David Williams, Todd Arnold and John Bonetti. And yes they were there all at there same time at one point.

Third goal, improve my aggression in later stages of tournaments. I cash a lot in the large MTT’s but I am not making it to the final table enough or rarely. I think this is a combination of lack of aggression in the later stages and not picking my spots better. Something I really need to work on.

Fourth goal, work on my reads and what reads / story am I telling my opponent. I am pretty good on reading players and what they have but I don’t think I am incorporating it enough in what I believe my opponents are reading from me. Don’t get me wrong I do it but not enough.

Fifth goal, win a major tournament. Enough said there. I came close with a $150 buy in tourney and a 5th place finish but I still don’t like how I played that final table.

Sixth goal, play more live events around town. Doing that more already and I really played my last one well up until the point when I just gave my chips away on a 4 flush board. I totally fucked up and have no excuse for my poor play but those are the type of mistakes I have to work on. Playing more live events will help me avoid them.

Seventh goal, get a schedule together of the online tourney’s I want to play every night and stick to it. I am pretty hap hazardous about how I play and what is available. I believe I will benefit more form picking my tourney’s ahead of time.

Eighth and final goal, don’t play tired. Last night for example I was playing well but I was extremely tired and bought into Madness. Madness is the $10 10pm re-buy on Poker Stars and is nicknamed Madness due to how some people shove there chips in with crap hands hoping to double up.

Back to my bank roll…. Basically I have 12 weeks to earn what I need or basically about $650 net profit per week. Can I do this? As long as I am not over spending on my bank roll yes I can. Now lets see if I am full of shit or not.

Now how did I do on my goals from last year?

1. For February, I hope to make at least 10 final tables (2 in the bag already but both were 10th place finishes). (nope didn’t get this one done at all)
2. I want to have a $10K year. (nope)
3. I want to play in at least one WSOP event this year (even though I already did play in the WSOP circuit event in Tunica I am talking about the main WSOP events this summer). (Yup managed this one also).

Not bad I got 2 out of my 3 goals. More later

Poker Goals for February and 2006

Last month was a good poker tournament month for me. I made $2K+ in tournaments and banked my first win on multi tables albeit with a small field (less than 200 people). Both of which are very satisfying. On the other hand I believe I need a plan for the rest of the month and the year. So with that thought here are my current plans:

1. For February, I hope to make at least 10 final tables (2 in the bag already but both were 10th place finishes).
2. I want to have a $10K year.
3. I want to play in at least one WSOP event this year (even though I already did play in the WSOP circuit event in Tunica I am talking about the main WSOP events this summer).

Can I do it? I don’t know, but I have a lot of confidence in my game and I feel I have chance to make those modest goals. I know it is nothing compared to the $100K+ goals the big online dogs have but hey you have to start somewhere. Plus I feel I play better when I have both long term and short term goals to fight for.

One more....

Another win! $20 buy in, 161 players, first place finish. Man it feels GOOD! Don’t get me wrong I know there are TON’s of better players out there who cash regularly in large buy in large field tournaments but they all had to start somewhere…..

Stats for January are 17 cashes in MTT and 8 final tables. Good start for the year now my goal is to make 10 FT for February and at least one big cash in a higher buy in event or large field.

Lets see if I am full of shit or not...

First Win!

Well since the 31st of December I have been on tear like no other. I have made 7 final tables, and have cashed 11 times in MTT’s. To top it all off, I had my first MTT win ever. Don’t get me wrong I have made a bunch of final tables before this and have had numerous cashes but nothing like these past couple weeks. It was awesome to get my first win especially after hitting 2nd place twice and one 3rd place. I was almost feeling cursed that I could not hit number one. Only bad thing was that none of my FT were huge tournaments or large buy in's. Mostly $30 to $20 buy in’s with small fields. I did hit second on a $5 buy in with 400+ people.

At none of these FT was I the chip leader when the FT started. In most I was short or in the bottom 5. But in the one I won I was in 6th place when the FT started. Player on my immediate right was a super aggressive guy that like clock work when folded to him he would always raise on the button or SB. I got a good chunk out him when he did so at one point but I mostly let him steal (I was hoping to set him up in the future to take all of his chips). That is until the FT when he did it again when I was in the SB with pocket 66. At this point we had lost at least one person and I had chipped up some. He went all in on the button and it was for ½ of my stack but I had already hoped that it would fold to Mr. Clockwork because I knew he would go all in with anything and I didn’t mind going for a coin flip, so I insta called him. Obviously I won but he showed a stronger hand than what I expected with Kd-Jd. At that point I just wanted to take a chance to increase my stack. After that I mostly ran over the table. Almost every time pots odds dictated a call, I called no matter what I held and 90% of the time I won it (spiking a 7 vs. AQ all in pre-flop holding 87s as an example). The only time I didn’t make a call was when I was in the BB with 4-2o and I was getting 5:1 on my money. I just couldn’t do it. Unfortunately the flop came J-4-2 rainbow and I would have taken down a huge pot.

Any ways I am extremely happy with my play this month and hopefully I will be able to improve on it next month.

Pocket Fives Open Tourney....

Played in two multi-table tournaments last night and I have to say I can’t complain. First one was PS 180 person- Up and down in this tourney. I got knocked on my ass to $600 with trips which dropped to $450 but I managed to build that up to $1500. Then lost ½ of my stack when I proceeded to bluff with AdKd on a 8-8-Q-Q-x board when the dude held one of the other Q....messed up thing was he didn't go all in he just called my bet (WEAK!). Any ways I built it back up to almost $2K and then lost it AK vs. QQ, took 67th place.

I also played in the pocket fives open (private tournament on Pokerroom). Found the password via 2+2 but missed a good portion of the first half as I was taking my daughter home. The wife actually covered for me and didn't do half bad, built it up to $2300 (starting stack of $2000). I feel I played some of my best poker in this. Here is the link to the summary:
https://www.pokerroom.com/games/tournament/?id=7738460

Any ways... 189 people started top 30 paid, buy in was $20+2. Plus who ever won it would get a $1000 buy in to a big time tournament on Pokerroom AND who ever knocked out the last ranked player would also get $300 buy in to another PR tournament.

When we were on the bubble I was 3rd to last. I managed to survive the bubble bursting and started to build my stack back up. Well 15 left, I was in top 5 in chips (I think 3rd). Chip leader was on my right for a long while now and very aggressive. Guy on my left (Sportsbuck) also very aggressive (which I used to my advantage slow playing nice hands and re-raising his re-raises). I thought Muckaka was making a move on me (I had dropped my initial raises before (Example: AJ raised to 3x the BB, dude in SB goes all in I fold he showed AK...).


20+$2 (real money), hand #1,566,888,301
PocketFives Open Multi Table Tournament, 8 Dec 2005 11:34 PM
View Previous | Next hand for this table.

Seat 1: SportsBuck ($7,801 in chips)
Seat 2: greendog123 ($31,770 in chips)
Seat 3: browerkid ($22,176 in chips)
Seat 5: 10691069 ($8,215 in chips)
Seat 6: wormac ($26,966 in chips)
Seat 7: muchaka ($91,925 in chips)
Seat 8: tatzrkewl ($5,660 in chips)
Seat 9: BulldogMafia [QD,QH] ($33,040 in chips)

ANTES/BLINDS
wormac posts blind ($600), muchaka posts blind ($1,200).

PRE-FLOP
tatzrkewl folds, BulldogMafia bets $3,000, SportsBuck folds, greendog123 folds, browerkid folds, 10691069 folds, wormac calls $2,400, muchaka bets $10,000, BulldogMafia bets $30,040 and is all-in, wormac folds, muchaka calls $21,840.

FLOP [board cards KC,QC,3H ]
TURN [board cards KC,QC,3H,10C ]
RIVER [board cards KC,QC,3H,10C,9S ]

SHOWDOWN
BulldogMafia shows [ QD,QH ]
muchaka shows [ JH,JD ]
muchaka wins $69,080.

SUMMARY
Dealer: 10691069
Pot: $69,080
SportsBuck, loses $0
greendog123, loses $0
browerkid, loses $0
10691069, loses $0
wormac, loses $3,000
muchaka, bets $33,040, collects $69,080, net $36,040
tatzrkewl, loses $0
BulldogMafia, loses $33,040

If I had won this hand I think I would have been chip leader.....Muchaka later went out in 2nd and was the last ranked player standing! So first place dude not only won $950 for first, but the $1000 buy in and the $300 buy in! I made $53 for 15th place ($53-22 = $31 NET).

Still pumped from playing so well but not ready to sleep even though after mid-night, I then jumped on a Pokeroom SnG $10+1. Again I played this one real well, had great control of the table, until I was Heads up. I was the chip leader HU, but the cards were just not going my way (lots of 6-2o, 7-2o type hands). Lost the chip lead but kept on fighting and managed to build it to $2K difference in chips. Then my opponent went AWOL. I waited around a bit slow playing but it was 1AM and he didn’t show….so I then proceeded to blind him away. Cheap win but hey I will take it.

Have a great weekend…May the pagan poker gods be kind…

Update

Weekly update here. Played on the 3rd in the Poker Stars Saturday deep stack tourney. $10+1 buy in and $5,000 starting chips with 30 min rounds. Damn I loved this tourney. Had tons of fun playing and I must say I played a really A+ quality game. Only problem was 7 hours into it and we were ITM (In the Money) with 100+ left and I had to go. It was my Mom’s surprise party and no way could I miss it. So with a high M and an above average chip count I had to leave. Ended the tournament in 54th place, I wonder how far I could have gone if I had stayed?

Any ways, not much poker played since then. I had planned on playing in a couple charity tournaments in the Atlanta area but they all got closed down. Hopefully I will still be able to collect my $1000 buy in tournament from one of them…. If I have not mentioned it before I won a trip and buy in to a WSOP circuit event in Tunica from one of the big charity tournaments that was regularly run around town. $75 got me air fare, hotel, transportation, $100 food voucher and $1000 buy in.

Beyond that the only poker I have played was at a friend’s house. 9 player tournament, $60 buy in ($10 for dealer), if you bust re-buys allowed until first break. Total prize pool ended up being $600, with 1st being $300, 2nd was $180 and 3rd being $120. I made a few mistakes but over all played well and ended in 2nd place. The biggest mistake I made was not being able to let go of KK when the board read 10-7-7 and I was positive my opponent had a 7 (I had a pretty good read on him by that point). Because of that one slip I went out in 2nd place, as I never recovered the chip lead from that point. Still not bad for a couple hours work.

Beyond that I am looking forward to playing some more poker tonight…..will keep you updated.

May the Pagan Poker Gods be kind…

CYA,