PokerGoblin
07-07-2005, 01:47 PM
Hello
For those replied and commented on my prior thread I am posting an update on my situation that I posted about two months ago.
The long and the short of it for those that are tuning in late is that I was permanently laid off from my day job about 7 weeks ago and I am have been trying to make my new living as a poker player.
My initial strategy, as it had been while I was working, was to derive my primary income from tournament results and bonuses, supplementing that by grinding limit holdem games.
Although I was advised against MTT's, I ignored that advice initially. My plan was to make up the losses in tournaments I don't cash in with cash game results. That has worked about as well as I had expected, but I have yet to have a big tournament finish, since I, for lack of a better expression, turned pro.
The first week, I made $400 grinding 2-4 and 3-6, and lost it all playing MTT's. Not the start I was looking for but I was not discouraged.
The next week I had a downswing of $600 playing 3-6 limit holdem but a couple decent tournament results and a reload bonus helped me turn out a mildly positive week.
The next couple weeks were ok. Nothing spectacular but I was starting to rebuild my bankroll. I was running fairly well in MTT's (about $15 an hour, or 2.5 BB/hr of 3-6).
On the 19th I took an extended break from poker, I received my house in my divorce settlement and was busy moving and such, which had been a helluva chore but will be worth it when it is done, if it ever gets done.
On the 5th I finally got those Nazi bastards from Comcast out here to get me back online, so here I am.
A few comments and observations:
I do not like grinding limit hold'em. Playing several hours straight is not for me. I play while I am in tournaments to keep my mind occupied and to make a little side cash, but to do it all day bores the hell out of me.
I have ran rather well in $10 SNG's on party as of late, finishing ITM about 70% of the time. My EV is about $14 per SNG. My problem is when I play more than one SNG at a time my success rate bottoms out.
I have found my success rate goes up dramatically in SNG's and MTT's when I don't play in side games at them same time. When I sit and pay attention to the action, I do much better. This requires no comment, I just wanted my illustrate my uncanny knack for the obvious.
The bottom line is I am surviving. I had to buy some appliances before I moved in, which tapped into my BR somewhat, but I am supplemented by unemployment and my girlfriend's income, which helps dramatically.
So the jury is still out, but I am leaning toward getting a job at the end of the summer. The pressure to spend the time and play on the computer is definitely a factor. With my live in girlfriend having a 9-5 job and duties as a dad, it is difficult to play when the games are best, late at night. I like to get up early and play a couple SNG's, then the $30 NLHE MTT at 10:30 AM on party. It is difficult with The Midget (my affectionate nickname for my 3 1/2 yr old daughter) running around and such.
I guess we'll have to see how it goes for the rest of the summer.
Thanks for the support,
PG
For those replied and commented on my prior thread I am posting an update on my situation that I posted about two months ago.
The long and the short of it for those that are tuning in late is that I was permanently laid off from my day job about 7 weeks ago and I am have been trying to make my new living as a poker player.
My initial strategy, as it had been while I was working, was to derive my primary income from tournament results and bonuses, supplementing that by grinding limit holdem games.
Although I was advised against MTT's, I ignored that advice initially. My plan was to make up the losses in tournaments I don't cash in with cash game results. That has worked about as well as I had expected, but I have yet to have a big tournament finish, since I, for lack of a better expression, turned pro.
The first week, I made $400 grinding 2-4 and 3-6, and lost it all playing MTT's. Not the start I was looking for but I was not discouraged.
The next week I had a downswing of $600 playing 3-6 limit holdem but a couple decent tournament results and a reload bonus helped me turn out a mildly positive week.
The next couple weeks were ok. Nothing spectacular but I was starting to rebuild my bankroll. I was running fairly well in MTT's (about $15 an hour, or 2.5 BB/hr of 3-6).
On the 19th I took an extended break from poker, I received my house in my divorce settlement and was busy moving and such, which had been a helluva chore but will be worth it when it is done, if it ever gets done.
On the 5th I finally got those Nazi bastards from Comcast out here to get me back online, so here I am.
A few comments and observations:
I do not like grinding limit hold'em. Playing several hours straight is not for me. I play while I am in tournaments to keep my mind occupied and to make a little side cash, but to do it all day bores the hell out of me.
I have ran rather well in $10 SNG's on party as of late, finishing ITM about 70% of the time. My EV is about $14 per SNG. My problem is when I play more than one SNG at a time my success rate bottoms out.
I have found my success rate goes up dramatically in SNG's and MTT's when I don't play in side games at them same time. When I sit and pay attention to the action, I do much better. This requires no comment, I just wanted my illustrate my uncanny knack for the obvious.
The bottom line is I am surviving. I had to buy some appliances before I moved in, which tapped into my BR somewhat, but I am supplemented by unemployment and my girlfriend's income, which helps dramatically.
So the jury is still out, but I am leaning toward getting a job at the end of the summer. The pressure to spend the time and play on the computer is definitely a factor. With my live in girlfriend having a 9-5 job and duties as a dad, it is difficult to play when the games are best, late at night. I like to get up early and play a couple SNG's, then the $30 NLHE MTT at 10:30 AM on party. It is difficult with The Midget (my affectionate nickname for my 3 1/2 yr old daughter) running around and such.
I guess we'll have to see how it goes for the rest of the summer.
Thanks for the support,
PG