World Blogger Championship of Online Poker

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Wednesday, January 30, 2008

The Bigger Picture


I am happy that my blog is growing, but it began so hapazardly that I think I'll take an entry now and then to explain some more of what you see.

Synomous left an interesting comment about multi-table playing and stats. I agree 100%, and that is one of the reasons I like to stick to one cash table at a time. I much prefer to enter my stats into the spreadsheet one table buy-in at a time. 99% of my data is taken this way, the only exception I can think of was "I Got Stupid." For each buy-in, I track the date, amount of buy in, number of hands dealt, cash out amount, plus or minus amount for the buy-in, and total bankroll. For many buy-ins, I also note the % of hands played. When in tournaments (which I have barely played since January 1) I also track the same information as above plus the amount of T$. T$ is prize money won in a satellite which you can use to buy in to a later event. I actually got the idea to do this from a player I met at a cash table last fall who was also doing the Chris Ferguson challenge. Now I regret not writing down his name; maybe I actually did and forgot about it. I'd like to check in with him now. I'm not sure how Chris Ferguson dealt with satellites, but before January, I would enter a $2.20 satellite for the Sunday 100 Grand Tourney (at :25 past each hour) where 20% of the field will be credited $11 worth of T$ as a token for a satellite entry into the Sunday 100 Grand. Or you can use the 11$ T$ for entry fees to sit & go tourneys (or any other tourney for that matter.) At any rate, it is fairly easy to break the top 20% of a field and be credited the $11 T$. I'm considering using a bunch of this T$ to finance WSOP satellites this spring. As of now, I have no T$, and when I do, I don't count it as part of my bankroll.

Back to the charts you see. The one above shows my daily bankroll beginning September 3 when I deposited $10 to my account which had $0.21 in it at the time. You can easily see the points at which I needed to re-load. I can also generate one from the same time frame that shows my bankroll after each and every buy-in.

So far, the only charts I've revealed are my daily bankroll totals, and only since my re-evalutation of my approach around New Year's. These numbers indicate my total bankroll when I log off each night. I also track my bankroll after each buy-in. Tonight, for example, I had six buy-ins, always playing only one table at a time. I only lost my total buy-in once out of six times tonight, which is better than my average.


A couple final thoughts about the blog...It is costing me some sleep. I have long wanted to become involved with blogging, and I'm enjoying learning my way through creating and maintaining one. I wish I new at the start all I know now about how to create a blog; I would have made some better links to Ferguson's rules, etc.


I do very much enjoy the feedback I get. It's funny, because I was quite shy about my goal in the beginning, vowing only to reveal it once I had the $10,000 to show what I'd done. The idea of the blog obviously shot that down. Still, I'm not sure I'm ready to share my little project with folks I see and interact with every day. I still like the idea of doing it first and revealing it once it's done. It's funny, the longer this thing goes, the more convinced I'm going to make it. I'd really like to search out other amateurs who have made a serious attempt at this. I did find one blog entry from a guy who had begun the challenge in 2006, but there were no follow-up posts.


Thanks for reading my blog, and I welcome your thoughts.


Coop

Monday, January 28, 2008

I Got Stupid!


For nearly a month, I maintained very good discipline. Then, in one night, greed made me stupid. Greed made me forget that you cannot "force it" in poker. It is actually comical how it all happened. I decided I did not want to lose my 7 day winning streak, and I was frustrated at the time about something that had nothing to do with poker. In this frame of mind I found myself down a couple of bucks last night. Rather than turning in for the night and getting back at it another day, I was determined to go to bed ahead. I almost ALWAYS play one table at a time, except maybe one cash game and one tourney at the same time, occasionally. So in order to get ahead before going to bed, I'd play a couple of tables at once. If one extra was good, two extra would be better. So, I played 3 at once. More hands, so I'd catch up a little quicker that way and I could just go to bed sooner.


Bad idea.


I lost some ground here. I lost my mind here. My stash went from $47.02 to $32.05. All because I was not willing to play well, take a very small loss, and get on with it. No, I apparently thought I could will my way to a profitable session. And why not? I'd figured a way to profit $45 or so in a few weeks playing a $.01/.01 game. I was determined to figure it out and make it happen. I had figured out a way to come back when I had dropped down to under $3, so I could figure this out, too. I found out again why I don't play multiple tables, and I had to re-learn that there are ups and downs, and sometimes minimizing your downs can be as valuable as winning. If I had minimized my losses last night, I'd be about $13 farther ahead of where I am now.


I already knew this stuff from reading books; just as I already knew the basic rules I came up with on Jan. 3. Somehow it occasionally takes my own experience to really bring a lesson home. If it weren't so dumb, it would be kinda funny! Actually, episodes like this remind me of how I could figure out a way to avoid the pitfalls of an experiment like this, and just be determined to play smart and win money. Don't get dumb or greedy, and let the good play win for itself.


I'm gonna make it to $10,000, but now it will just take about 4 days longer.

Sunday, January 27, 2008

Almost $50!


Up to $39 Thursday and now up to $47.02. I moved up to the .02/.05 game and did OK. The dollar amounts increase as my overall bankroll increases. I know this cuts both ways, but I'm on a 7 day winning streak.


I also slid deer_nevets a ten spot so he could begin his challenge. I think he is up about 10% already!

Thursday, January 24, 2008

By Popular Demand....



Alright, poker fans, here is the list I came up with on Dec. 31. I needed a style of play that would eliminate the drastic swings of my bankroll. I needed steady, consistent growth, even if it would be slow. This is the list of guidelines I developed within the framework of the Chris Ferguson Rules. Check out my progress since that day at the top of the page.

Wednesday, January 16, 2008

Progress Since January 3


On January 3 I looked at my bankroll that was nearly depleted for the third time and began to investigate what had gone wrong. I made a chart of my daily bankroll from the beginning date September 3, 2007 to January 3, 2008. The chart revealed a roller coaster of high peaks and deep valleys in my bankroll. How could I go about changing my play to ensure a chart that would show a slow, steady, upward growth? How would I have to play differently within Ferguson's rules to see the results I wanted? I was determined to figure out how to do it, so I made an additional list of guidelines to follow, beginning January 3. So far, after nearly two weeks, I have managed to get the shape of graph I'm after. In fact, I was hoping for $0.30-0.50 profit per day and to end January with $18-20. I have actually averaged about $1.55 per day and have already exceeded $20 in the first half of January.

Do you want the set of rules I used to multiply my bankroll by nearly 10 in less than two weeks? Stay tuned....

0 to $10,000 Update

Last night I finished 30th of 3,672 in a $0.50 Tournament and won $2.94 to bring my current total to $23.02. I have started playing tables with larger average pots now that my risk tolerance has risen a little. I had begun to play at tables with lower average pots beginning Jan. 3 as my bankroll was quite low. I have always played at the $0.01/0.02 tables for this experiment.

Check me out - I'm NBCT99 at Pokerstars.

Tuesday, January 8, 2008

Chris Ferguson's Bankroll Management Challenge

I am on a quest to match what Chris "Jesus" Ferguson did. Well, almost.

Chris took one dollar and grew his bankroll to $20,000. Then, he started with $0 and played freerolls until he could afford money tables, and grew his online bankroll to over $10,000! He did this by following 3 basic rules. Read his rules for bankroll management here http://www.fulltiltpoker.com/pro-tips-archive.php?player=Chris%20Ferguson&tip=100

Since I am only an amateur poker player, I have decided to give myself a head start. I decided to start with a $10 deposit online and follow these rules and with solid play, make it to $10,000!

I started in September 2007. Got up to about $20 within a few weeks, but a month later my balance was below $1 and I could no longer buy into a cash game. I re-loaded another $10 on October 6 and grew my account to over $53. This re-load lasted about seven weeks until I went below $1 again in early December. Never, ever give up!

Third time is a charm: on December 4 I decided to re-load a second time and try it again. One month later I am at $18.08 and I am confident I will not have to re-load again.

Tonight I finished 110 out of 2,665 in a $1.10 Tournament and won $3.47.

Follow me as I make it all the way to $10,000!!