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#1
04-07-2005, 02:43 PM
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Help with setting goals
I’ve recently made the decision to devote a significant amount of time & energy to playing poker. And I’m torn between the choice of two different options with regards to goal setting. And the difference is between a more conservative approach, and an aggressive approach – Go Figure.
(Before we get too far into this, I have a second source of income still, and will have a large enough bankroll to take on this venture – so please, help me with goal setting.) My ultimate long term goal is with regards to playing in online and live MTTs. My current objective is to find the most time effective way of producing a monthly $8,000 a month income from poker. Playing 600 $109s a month at a 10% ROI accomplishes this objective (don’t forget rakeback). I currently don’t have the skills to 4 table the $109s (for profit that is), and thus that’s my current goal. But once I reach that goal, well, that’s where things get tricky. Big picture goals: 1) Make sure poker playing can last as long as possible 2) Focus on my skills as an MTT player. Number 1 is where I get tripped up. Am I wasting time and money by not focusing on playing more SNGs, so as to maximize income in the short run, in order to payoff and eliminate all debt, in particular, my house? Can anyone make a reasonable argument against the fact that limiting my expertise to just SNGs could/will have negative income ramifications in the near term (say 2 years). 
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#2
04-07-2005, 02:49 PM
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Re: Help with setting goals
Hey Scuba.
I think that focusing on one kind of poker (SNGs in this case) is the best way to make a lot of money. Personally, I've always gotten bored with a particular kind of poker and have moved on to the next thing. For this reason I am just better than average at a lot of games, but am unable to beat any of them for a lot. If making a lot of money is your goal, I say pick one form, get really good, and do it. I'm sure SNGs have similar earning potential to limit and/or NL ring games. So since you are already well on your way to being very skilled at them, stick with it. Enjoy.
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#3
04-07-2005, 02:58 PM
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Re: Help with setting goals
Why do you want to play MTTs? I'm confused.
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#6
04-07-2005, 03:17 PM
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Re: Help with setting goals
[ QUOTE ]
Why do you want to play MTTs? I'm confused. [/ QUOTE ] Good question. Never thought about that. It's always just been there. They excite me. I enjoy playing them. The whole reason I started in STTs is to develop some early MTT skills. I've never left that idea. Why are you confused?
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#7
04-07-2005, 03:18 PM
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Re: Help with setting goals
[ QUOTE ]
In your grand plan, don't neglect building a retirement fund [/ QUOTE ] Lol, I'm a financial planner by trade. Scuba
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#8
04-07-2005, 03:52 PM
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Re: Help with setting goals
[ QUOTE ]
[ QUOTE ] Why do you want to play MTTs? I'm confused. [/ QUOTE ] Good question. Never thought about that. It's always just been there. They excite me. I enjoy playing them. The whole reason I started in STTs is to develop some early MTT skills. I've never left that idea. Why are you confused? [/ QUOTE ] I thought you were looking for a way to generate a steady income as a part time player. I know very little about MTTs, but I'm guessing the variance is obscene. Also, I think it might be tough to do part time since they can last for hours. If you are just entering them for a change of pace and additional profit, that sounds like a good idea. I guess I didn't understand the question, or maybe there wasn't a question.
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#9
04-07-2005, 04:39 PM
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Re: Help with setting goals
if (when?) internet poker dies down some and it becomes much harder to turn out the income people are seeing right now, i'd assume MTTs will be a good alternative for some of today's online pros. I see MTTs as more of a long term skill.
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#10
04-07-2005, 04:46 PM
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Re: Help with setting goals
Scuba,
Do you make more money from SNgs than your occupation? If so, that is majorly depressing. Maybe I should forget that finance degree (which is costing me like $25k a year) and move up to 8 tabling the $55's [img]/images/graemlins/tongue.gif[/img] Dude..you ever going to reply to my email? Haha..take your time. No rush.
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