Monthly report

Well the month of January was a month filled with ups and downs. But as a poker player, that is pretty much expected so let’s get some more detail on that statement.

First, let’s discuss my day to day life, as the main idea behind this whole playing poker professionally experiment was to improve it. So how am I? Well, I’m actually pretty good. Early in the month I was a bit worried about finances due to an overly expensive Christmas as well as lack of play in December which led to low income, but I rebounded fairly quickly, paid off my credit card and managed to increase my overall bankroll. Obviously I am enjoying the absence of organized employment, but I have actually started to get my play down to a routine as far as when I play and for how long. What I need to continue to work on is to not be afraid to continue playing after winning a bunch one day. I mean, when I take a big hit, I generally can crawl my way back up to even, or at least continue playing good poker, which signals to me that I can maintain my decent game in the face of negative results, so why not positive results? It has to do with my natural risk aversion, and a strong desire to book a win. What I really need to realize is that no matter how many winning or losing days I have throughout the month, all that matters in the end is the bottom line income. And that number doesn’t care how it got there, just so long as it got there. But there is something to be said for keeping your focus and playing with a positive mindset, both which are easier to maintain when you have visible evidence that you are playing good – so booking short wins has an effect on that aspect of your psyche. Even still, as with any form of poker, it is generally correct to forget what just happened – good or bad – and continue playing as if this is your first hand.

Ok, now to the results:

Cash Game Total - $561.82
Tournaments - $2173.30
Monthly Net Total - $2735.12

So I could put a positive or a negative spin on those numbers.

Positive – $2.7k/month is a little more than I made at my last crappy job. So for more money and whole lot less bullshit, I’m pretty much in a win-win situation. Additionally, this is the first month I truly took playing SNG’s seriously and made some significant improvements along the way. I can only expect better results in the future.

Negative – While I made that much at my last job, it was a shitty job. I could easily get a better paying job with room for advancement which would be more secure and stable, especially in the long run. How long can I truthfully grind out a living playing poker? I mean, bad players can’t exist forever, they have to go broke eventually right? What is the online poker scene going to be like in 5 years when the game itself is most likely not going to be as popular? And while these results are paying the bills now, it could always just be that I’m on the good side of variance.

But at this point, I’ll take the good over the bad and worry about the future later.

Halfway through the month I made the move from regular SNG’s to turbo SNG’s, in hopes to double my hourly rate while sacrificing some ROI%. Now while life at the turbos hasn’t been all peaches and cream, I think I am adjusting well. The problem is of course the high luck factor due to so many all in preflop confrontations. But once you accept these as part of the game and just make sure to continue trying to get your money in with the best of it, there is no need to get upset about the loss that inevitably ensues. My ROI at this point for turbo games is 13.42% after 421 games at the $25+2 buy-in. My original game was at the $33 buy-in and I maintained a 20%+ ROI at first, but over 221 games there it dropped off to 18.34%. Of course, neither of these sample sizes are large enough to determine my true ROI, but I think they are fairly close. Actually I think my turbo results are lower than they will be eventually due to two things. One - I’ve improved my turbo game significantly throughout the month, and two – there was a brief few days where I honestly experienced more than my share of bad beats, which I think skewed the results a bit. I definitely think I’m at least a 15% ROI player on these turbos.

Eventually I want to work my way up to the $55+5 games. But I won’t do it until I have the bankroll to sustain myself. My bankroll goal for the $55+5 games is $5k. After a withdrawal this month my online BR is sitting around $2k, so I have some work to do. Last month, I tested the $55 waters a bit, but found them a bit cold as after 23 games I had a ROI of -17.50%, which is truly ugly. I don’t think I’m that bad really, but I do think it is a combination of playing a bit scared when there, as well as some bad luck.

So all in all January wasn’t the worst month in the world. If you had told me on Jan 1 that I would be here, I would take it and sleep the rest of the way. There were some heartbreaking losses, but nothing I didn’t live through. As well I think I am becoming consciously aware that I’m taking the beats better. My goal for February is to clear $4k in total winnings. Fuck that short month.