calling all giants

anunkind · #1 12-18-2003, 11:02 PM

hello all,

used to lurk here a lot, before i started playing regularly. I put 50 bucks into party a few months ago and since then pretty much made my living playing poker. played .50-1 up to 3-6 as the roll would allow until i started to notice some names from here and realized i wasn't that good. dropped back to .50-1 for a long while, moved up to 1-2 six handed where i raked it in until i lost all sense of value, so back to 1-2 ring at the moment (playing only group 5 or better (with exception of pairs) and trying to keep flop % under 20.) i'm young 20s so my expenses are relativly moderate.

basicly what i'm looking for is advice from those who have made their living doing this or just been around the game a while. besides posting my daily blunders on here i'm wondering what is a good ratio for play vs. study & practice(turbo holdem)? what is a good amount (in terms of length) to have in savings to survive slumps? looking long term- any other wisdom you guys might be able to impart?

any responses are most appreciated.

thanks

anunkind

ps (standing on the shoulders of) hopefully

anunkind · #2 12-19-2003, 06:11 AM

Joe Tall · #3 12-19-2003, 05:23 PM

Stop half-a$$ing and get to...

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posting my daily blunders on here

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In addition, post hands you 'think' you played well, you'd be surprise on how you didn't.

Welcome to the forum,
JT

crockpot · #4 12-20-2003, 05:39 AM

i don't think practice with turbo hold 'em is really that important, except for possibly practicing specific situations you don't have much experience with. you might as well play online and win money while you learn.

that said, the correct ratio depends on how well you learn. just read at your own pace. making sure you retain everything is more important than trying to cram.

harboral · #5 12-22-2003, 03:00 AM

I'm not a giant, but have made my living for several years playing poker and blackjack. When playing (casino NV & CA) poker there have been times that I got into games that were above my bankroll and got beaten down a bit, but I always had a minimum of 200 times the upper bet as a bankroll (mostly $5/$10 with a $2000 bankroll), and this was only for poker - not expenses. At the end of the month I would pay my bills, set aside some extra cash for other activities and add whatever was left to my bankroll - so I could have additional back-up cash and to play in tournaments and higher limit games. Most experts say have a minimum of 300x the big bet - but I never put more than 15% of my bankroll into play on any one day, and would drop down in limits if I had to after a few losses. If you are a competent player then you keep very accurate records of your wins and losses at different games and limits so you truely know how much you are making. I can tell you that I have had bad nights, lost three or four sessions in a row, and even had losing weeks - but never have I had a losing month. If you are playing a set-bet game like $2/$4 you should be making a minimum of 1x the big bet for every 25 hands dealt with a very good player making 1.5 to 2x the big bet for every 25 hands dealt. If you are playing a spread bet game you should be making even more. I played a very good $2/10 game at Harrah's in Reno for several years and the best player or two were making $25 to $28 per hour (about 25 hands). I was making about 2/3's that amount. - When you have played over 10,000 hands you will know what you are making - nobody gets lucky or unlucky for two+ months of live casino play - you should see very consistant weekly results. If you are playing online, you should see 40+ hands per hour and be making at least 2X the big bet per hour. I am making 3 to 3.5x per hour per table - others are making more. (over 50,000 hands online)

Robk · #6 12-22-2003, 10:26 AM

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besides posting my daily blunders on here i'm wondering what is a good ratio for play vs. study & practice(turbo holdem)?

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8:1

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what is a good amount (in terms of length) to have in savings to survive slumps?

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Take your total weekly expenses. Subtract that from your expected weekly earn. Divide that by the number of hours you play per week. Plug that winrate and your SD into these .

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any other wisdom you guys might be able to impart?

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Not so much advice as an opinion... playing for a living at 1-2 seems pointless to me. Work hard on your game so you can move up to the middle limits, or get a job.

Robk · #7 12-22-2003, 10:33 AM

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When you have played over 10,000 hands you will know what you are making - nobody gets lucky or unlucky for two+ months of live casino play - you should see very consistant weekly results.

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This is false. Your winrate can take a very long time to converge. After about 100,000 hands you should have a good idea, but even then you may not as game conditions are constantly changing. Search the probability forum for the confidence formulas. Many poker authors have written about losing players who have had hot streaks lasting years.

anunkind · #8 12-24-2003, 06:02 AM

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Not so much advice as an opinion... playing for a living at 1-2 seems pointless to me. Work hard on your game so you can move up to the middle limits, or get a job.

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its a living, an enjoyable one. i'm looking at this more like a business, just looking to develop my game as quickly as possible. i could care less about the details, if there is a "point" to it beyond money. now whether it would be advantageous long term to move up to games that are more challenging (and also higher stakes) but perhaps a lower bb/hr is a different matter. i'd love to hear any thoughts on that, where that balence should be.

thanks for the responses
-anunkind