Hiatus

Moving to another state is a time-intensive and lengthy process. I haven't been playing poker for a few weeks and hope to get back on the grind after the move.

Time to Use My Earnings

Having reached about $5k in my bankroll, it's time to start using profits to pay down some debt and accrue some savings. So, you wont see my bankroll climb as sharply from here on, but it doesn't mean I'm not making the profit!

Ok, Steps Kind of Suck

It was fun for a while, but I couldn't make much money at it, given the crazy nature of step play. Decided to go back to what was working before, playing $20, $30 (and now, $50) sit-n-gos tournaments - kind of my bread & butter.

Kat is still playing, by the way, but is having a really hard time making profit. Trying to get her to rock as hard as me, but, well...(narcissistic comment here).

Step Ticket Madness

I've been focusing more and more on Step Tournaments on Full Tilt. These are tournaments where you work your way up toward a bigger prize if you can get up to and through Step 7. Right now, that prize is a seat at the WSOP Main Event. However, you can also take the $12000 in cash, which would be my plan for the first win. I'm a ways away right now, but also moving through the levels fairly well (I've been as far as Level 5 this far).

Because of the focus on Steps, I'm not focusing as much on grinding $20/$30 sit-n-gos to grow my bankroll like I was doing, so it looks like I'm not earning as much, but if I can succeed on the Steps, the bankroll will suddenly boom. Stay tuned.

Stop Loss Implemented

Due to the rough patch I've hit with bad luck lately, I am going to do something I should have done long ago - start using a stop loss limit for losing sessions. I have a tendency to let my ego get the best of me and chase losses, and 1) it leads to long, long hours playing, which isn't healthy, and 2) sometimes it leads to even bigger losses.

So, starting today, I'm going to be using a stop loss daily limit of 8 buy-ins and try to limit all sessions to four hours max. This should help me stay sane and help me avoid some of the big loss days I've been unfortunate enough to run into lately, despite playing my best game.

Tough Times

Had a terrible week a few weeks back and dropped $700, mostly due to losing every coin flip and many situations where I was all-in with the best hand. Oh well, that's poker. It's my first big downswing, and so far, I've recovered about half of the loss. And we continue to grind a bankroll...

When I Reach $10,000...

I've decided that when I reach $10,000 in my bankroll (anticipated by August/September), I will start using half of all earnings from that point on to pay down some debt and help us out financially. Up until now, I've used very little of the money I've earned, while trying to build up the bankroll.

After reaching $10k, I will also be abandoning the goal of trying to double my bankroll within a given timeframe and tracking "levels". I've already proven that I can attain each level thus far, and after $10k, it'll be equally about using the money for good as well as continuing to build the bankroll. Stay tuned.

Kat Taking On Cash Games

Katrina's had a frustrating couple of months trying to reach the $800 level in her bankroll, playing $10 tournaments. She's now switching gears, trying out cash games rather than tournaments. It's better for her, as far as flexibility of schedule goes. And early indications are that she might be better suited to cash games. Best of luck!

As for me, I'm ahead of schedule to complete level 6 on time - about halfway there with 7 weeks to go.

On To $30 Games...

Having reached a buffer of $400 over my $3k level, I've decided that it's time to try my hand at $30 games (I've been playing $20s). 30% more profit possible at these games, if I can keep doing well.

Chad Moves On To Level 6!

Having cleared $3,000 in winnings, it's time to strategize for attacking the $3,000-$6,000 level. I feel pretty good about my game right now, having constantly made tweaks to maximize profit and minimize leaks. I'm still holding steady at about an 80% profit/loss day ratio.

$200 Cash, Biggest To Date

Playing four $20 tables today, I got 1st/1st/2nd/2nd, for a profit of $200, my biggest daily cash to date. I'm continuing to make small changes to my game, hoping that I can keep up the momentum into the next bankroll level and beyond.

Rakeback In Da House!

Kat and I managed to get Rakeback on both of our FullTilt player accounts. This means that we earn 27% of our rake deposited back into our accounts each week. If you aren't familiar, rake is the amount you pay above the entry price to play a tournament. So if you play a $20/2 tournament, the entry is $20 and the rake is $2. You get 27% of the $2 back, which doesn't sound like much until you take into account the fact that I play four of these at a time, and often dozens/day. So right now, I make between $30-50/wk in rakeback - win or lose. As I move up in stakes, the rakeback amount will also increase.

Emotions In Motion

I've found that my emotions keep getting the better of me when I get unlucky and knocked out of tournaments. I'm a very competitive person, and I HATE to lose. However, I'm going to get high blood pressure or an ulcer if I don't learn to chill out and accept bad luck when it comes. Since there's no option to change the fact that luck is part of poker, I have to work on changing myself. I have to find that inner zen monkey and when i get unlucky, learn to laugh, or take a deep breath, instead of throwing things or seething.

Doing the poker thing seriously comprises more than learning strategy and playing well. You also have to deal with the emotions and up and downswings properly, or you'll never make it. If I get mad about losing a $20 game, what's going to happen when I get knocked out of the WSOP?

Hot Streak

Having made profit in 18 of my last 19 sessions, I believe that the recent changes I've made to my post-flop play are reaping dividends. As a poker player, you have to step back from yourself every now and then and examine your strategies, and if necessary, make adjustments. You might win for a while and then suddenly find it much harder to do. This could be because you are playing differently, are not focused, or because you are facing tougher competition (or the same competition is learning your tendencies and taking notes).

This is one of the great things about the game of poker. You can never stop learning and striving to get better. Those that don't constantly strive to swim upstream will soon find themselves drowning.

$20 Games Now, And A Few Tweaks

I'm finding plenty of action at the $20 level, and have gotten off to a good start. A single table win at this level is worth $90, twice as much as my last level - so game on, and I'm looking forward to reaching level 6 of my plan, though I might not hit it by my original goal date.

I've made a couple of small adjustments to my play lately, especially after flops. So far, these changes have made a big difference. After a week of downturn, I made the adustments and have posted 12/13 profitable sessions since making those changes.

Nearing $2000 / $20 Games - Kat Reaches Level 4

I'm getting close to the $2000 mark, where I'll be moving up from $10 games to $20 games, with both higher risk and higher reward. Looking forward to the challenge.

Kat just passed $400, getting her to Level 4 of her plan. She says her goal is to pass me, but I'm not about to let that happen...