- The bulk of the table hours is to be 9 seat, regular blind (8mins) single table tournaments (sit and go's)
9 seats STT's are by far my most profitable form of poker when it comes to %ROI/stake/hour played, so it seems only correct to try to make the bulk of the table time up with them, grinding away a reasonable profit each month (hopefully!!) - Start the challenge at $10+1 buy in, when the bank reaches $1000, move up to $25+2.50
$10+1 is by far and away my comfort zone, a level in which I'm more than happy to chuck my chips about with any two cards. However, once the bank is $1000, it would seem silly to stick to grinding at $10+1, so I will move up in stakes. I expect my ROI to be lower, but the increased payouts along with the much increase rakeback each month should ensure me a higher return, if all goes well - If I show a loss of 12 buy ins at $27.50 in any calender month, drop straight back down to $11 until that loss is recovered
If I'm having a torrid time of it at $25+2.50, it makes sense to drop back into the comfort zone, to regain some composure and confidence - If the above ^^ happens 5 times, we're clearly not getting anywhere fast so consider staying at $10+1 for the duration of the challenge, to 'guarantee' (if only!!) a profit each month
Trying desperately to stay modest and level headed, I honestly don't think this will be a problem. I think the ROI will be significantly lower for the first few months, but after that, with any luck I'll have settled in and forgotten about the initial psychology of jumping up by 150%, and $25+2.50 should hopefully become my new comfort zone. However, I am aware that it could all go horribly wrong, so this rule is included should that happen - If feeling comfortable and showing an ROI of 20%+ at $25+2.50 for a few months, consider the step to $50+5 and repeat rules 3 and 4
$50+5, an unthinkable amount for me to invest in an STT at the moment, but you never know, stranger things have happened!! - For the duration of the challenge, there will be no full buy in MTT's, satellites only
Not even $5!! By entering satellites into the bigger tournaments, there is a great chance of a massive bankroll boost for not much outlay. By entering $5 and $10 MTT's here there and everywhere last year, I'm sure I managed to bleed a fair bit of profit down the pan, and when I did get a result it would just about make up for what I'd spunked ober the previous few weeks plus a tiny little bit on top (barring the HeadHunter win, but that was a bit of a one off). However every time I cashed in an MTT that I'd satellited into, it was like Christmas come early!! As I have already mentioned, I am nowhere near the best when it comes to MTT's, so if I'm playing one I want it to be a big 'un!! This will also keep me 'battle fit' if you like, I could grind away $10k at STT's then have completely forgotten how to play an MTT when the time comes, not good when that MTT is the WSOP Main Event!! - Satellites are only to be played if profit is +$200 in calender month at $10+1, $400 for month at $25+2.50 or $600 at $50+5 (profit cheekily includes previous month's rakeback)
This, I think, is one of the more important rules. If I'm to complete the challenge, I need to be making a steady profit. If I set the bar at the above levels, my BR should steadily creep up each month, with the odd 'big hit' from an MTT that I've satellited into. I play no satellites until I hit the target each month. If I've just about hit target but paying for a satellite would drop my profit for the month under the bar, I don't play it, simple as that. If I lose a couple of STT's and this drops the months profit to under par, again satellites are to be sacrificed. I think this is of utmost importance, to consider satellites almost likes treats, and aim to treat myself each and every month. As it's paid on the 1st of each month, I'm going to include the previous month's rakeback, thereby giving me a decent headstart each month and making the targets achievable within a couple of weeks (hopefully!!) so I can try to get a big score at the back end of each month. - Satellites are only to be played when in profit for the day on STT's (even if it's only $1 profit!!) and when feeling positive about my game
For fairly obvious reasons. It is very important to play poker confidently. If I'm not having such a good day, I might as well take that satellite buy in and flush it down the pan - Bank to be swept to a corresponding amount each month once $1000 is reached, and placed into it's own bank account to earn interest
I really hope I don't have to explain this one....... - If I lose 5 STT buy ins on any given day, off it goes
There is nothing worse than playing on tilt, for any reason. I find that if I lose 4 or 5 buy ins in a row, this clouds my judgement and I 'chase'. Often I've managed to scrape it back, but there have been a few times when I've well and truly done my kahunas, and this is simply not acceptable. If I've lost 5 buy ins, it's for a reason. Whether that reason is that I'm playing badly or whether the Poker Gods simply aren't smiling on me that day (don't we all get days when it seems the Poker Gods are positively TRYING to make it as horrendous as possible?), poker will be turned until at least the following day, when I've had chance to sleep it off. Again, I find setting a loss limit one of the more important rules. I know it's going to be hard to turn it off when I've played well but got p*ssed on, but it's got to be done. As a result, daily loss limit is $55 at $10+1 and $137.50 at $25+2.50 (I don't even want to think about $50+5 just yet tyvm!!). This doesn't include satellites, however if I'm having a mediocre day on the STT's it's highly unlikely that I'll be playing satellites anyway.
So there we have it, 'The Ten Commandments'. Obviously they're not set in stone, if I feel one needs changing or if I need to add anything, I'll edit this post with a (*note **/**/**). If you can think of anything I may have missed, or anything that may help me along the way, please get it in comments. Many thanks.
It's now time to write up a seperate post on what I'm going to do when the $10,000 target is achieved, so we'll leave this one here and get straight on to the next one......
1 comment:
Looks like you have a well thought out strategy! Good luck in 2008.
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