Tuesday, April 24, 2007

A much needed update

Well, I must admit it has been a long time since I have posted and I can't really attribute it to anything but laziness and a lack of good things to post about. So let's try to sum things up. I of course have been playing every Sunday that I have the chance to and still with very little success. My poker game plan since I started back up was to concentrate on tournaments of various sizes to grind out a profit and stay afloat until I managed to land a big score in one of the Sunday majors. This game plan is still perfectly fine in my opinion and there are quite a few people who implement it successfully, but it wasn't working for me. I was managing to roughly break even during the week but I would lose on average anywhere from $200 to $800 on Sundays due all the larger buy-in tournaments. I know this is standard variance, but I also realize I don't have the proper bank roll to comfortably survive this type of variance. In retrospect, I should've been concentrating more on Satelliting in as many of these tournaments as possible to reduce the overall cost, rather than my usual wake up at noon and play one satellite with a 50% success rate for only one tournament.
Obviously since I am talking about the pit falls of my old game plan, that must mean I have a new one - and that is true. My new game plan is to play cash games during the week with a few small buy-in tournaments thrown in and to concentrate on the big tourney's (including satellites to them) on the weekend. I have chosen to do this for two reasons: 1)By playing cash games, I can maintain a relatively steady income during the week to pay off the bigger tournaments on the weekend and 2)Playing cash games makes you a better player overall. One of the main realizations I have come to from my tournament experience is that you don't need to be good to be successful. There is basically a formula that can be followed that will give you success in the long run, and playing high volumes of this style can make you a tournament pro. I don't have the time or the desire to play for 18 hours a day to be successful with tournaments, so cash games are a perfect substitute. I have been 4-tabling $1/2 NL with some pretty good success the past week. Here are my results for the past 8 days:
Of these 2,000 hands, I've played about 1,400 of them in the past two days. This is obviously way too small of a sample size to indicate whether or not I can truly beat these levels. A better indicator will be when I have collected 20,000+ hands, but I am fairly confident I will be moving up to the next level by mid summer or sooner. Also, as a benefit of the cash games, I expect my hand reading abilities to improve, which should directly improve my tournament results. Let's hope this all works out and I will continuously have things to post about.

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