poker bankroll management

2015 A year in REVIEW

The year has come to an end and I have a few stories on my low-limit journey to share. Some ups, mostly downs, but at the end of the day I got to play live and online poker whenever I wanted for a small profit and I throughly enjoyed myself doing so.

Poker is fucken tough. You can study everyday, practice strategy, watch all the training videos, and still lose. Luck plays a huge role in the equation, a turn of one of those 52 cards can make or break you and as we all have witnessed, most players including myself receive the latter.

One of the biggest things I learned in 2015 is how to control my anger and frustration when taking bad beats or playing bad. I simply realized that bad beats are part of the game. If the best players always won the bad players would go broke, leave the game and never come back. Now when I take a bad beat I laugh it off and tell myself “This guy had to pull it out of his ass to beat me” and that always makes me feel a little better. Bad beats tend to show up at the least opportune time so be prepared but always remain confident, the coin lands on the the other side too but we tend to forget.

I also learned when playing bad there’s no reason to get mad. You spend all this time and energy being upset when you should be studying and learning from your mistakes. There isn’t a better feeling in the world than improving your game by working hard and turning the tables on opponents that you couldn’t beat before. You have to be honest with yourself and work on your deficiencies or be prepared to be left in the dust.

Overall 2015 was a horrible year for my “live” tournament game. I played 28 events and only cashed in 5 for a total loss of $-1120. My highlight was finishing top 80 and in the money in two back to back LAPC events, one had a 900+ player field the other had over 800 runners and were less than a few weeks apart. An other highlight was playing my first WSOP event the $565 buy-in Colossus event. Even though I didn’t cash, it was a great learning experience and I can’t wait for my next WSOP trip Summer 2016.

My live cash game stats this year weren’t equally as bad, but were still sub-par. I played 17 sessions and only won 5 for an overall loss of $-375. My highlights were learning Omaha 8 high-low and holding my own at the $4-8 limit kill tables plus I had a couple nice $1-2 and $2-3 no limit sessions where I won a couple hundred dollars. My problem in the cash games was the lack of discipline needed to make the huge fold. I could of easily showed some profit in my live game if I could have made a couple key folds in pots where I had a strong feeling I was beat but I tried to get lucky (and pull it out of my ass). My #1 priority in 2016 will be to drastically change this and keep a level head when making decisions with piles of chips in front of me.

Now time for some highs! I totally crushed the low-limit Bitcoin tournaments online on Nitrogen Sports and SWC Poker. I took a shot at the 26 mbtc buy-in 750 mbtc guaranteed tournaments early in the year on Nitrogen and won, after that any tournament in the 5-100 mbtc buy-in range I consistently beat. I totally used the smaller field sizes as an advantage by using 6 max strategies as MTT’s on these sites only reach 15-20 players. My stats show I won 33 tournaments, 15 2nds, and 10 other ITM finishes while roughly playing 150 tournaments for 4410 mbtc won equaling $1908! I used a basic ABC style and pretty much just waited for the fishes to make mistakes and capitalized on them. I also learned and was competitive at mixed cash games and will use the experience I gained as a stepping stone moving forward and build on the skills I acquired and use them to take advantage of the players behind the learning curve.

Overall I finished the year up a disappointing $413 and it really feels like I lost. Yeah it was great to win those 33 tournaments online but I didn’t win a live tournament and I got throughly handled almost every time I stepped foot in a casino. But the future seems hopeful, I crushed online and will continue to search for ways to improve my win rate. I’ve also added a few tweaks to my live game and I have faith that my hard work and dedication will take me to the next level in 2016. Wish me luck as I’ll be heading out to the city of Commerce to play the LAPC as I have the past 3 years in 2 weeks and I got my eye on a final table. So till next time…..Good luck out there.

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Waiting for the next BOOM

All I hear about these days is how hard poker is to beat and how in the early days a mediocre poker player could make a healthy living off the game, because the opposition was so weak. This frustrates me because I feel like I missed my chance to capitalize on the online poker boom, I feel like my game and bankroll is at a level where if I had the opportunity, I could succeed at online poker if the games were really that juicy.

I reside in beautiful California, and currently it is illegal to play online poker, one of the largest states with the highest player pools and still no legal online poker. I blame PokerStars and there shady practices. PokerStars operated for years illegally in the USA and acquired a fortune without following laws and regulations. On the flip side they did attract more players. Now that California is close to passing laws that would make online poker legal, PokerStars slows up the process by getting in the way of the Indian tribes and the Casinos. Pushing them away from reaching an agreement over the bad actor clause.

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Still I grind. On illegal sites, at the mirco stakes, gaining experience, building my bankroll, looking forward to the day California legalizes online poker and we have the next boom. Whenever this happens I’ll be ready, I’ll be ready to capitalize this time because I’m putting in the hours and thousands hands.

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I didn’t play Online as much as I regularly do these past 3 weeks, but I was still extremely profitable. At the time of my last post I was at a 128 mbtc bankroll currently I’ve built my bankroll up to 210 mbtc! I played 20 tournaments most 6 max format, with player fields ranging from 18-54 runners, I got a 4th, 3x 3rds, 2x 2nds, and a 1st, winning 82 mbtc. I pick and chose the tournaments I wanted to play and I only entered tournaments when I felt like I was in a extremely focused mental state.

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Overall I had great few weeks and I look forward to a successful 2015. I’ll be heading out to the LAPC in a few weeks and I plan to play my best poker game and run extremely good. Wish me luck!!

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So untill next time good luck out there.