How to: make an online poker pro.

[gotme]

Hello everyone,

My name's Alex, I'm from Sydney Australia.

I'm studying my masters in finance at a part time pace, and have been a private futures trader since i left school (a few years now).

Poker players and private traders are very alike from what i see, I believe the skills learned in both professions are transferable.

I'm very much a poker novice, but I'd like to learn to play well and be profitable.

Over the next two years I have a mission. At present it is - learn to play poker, devote as much time as needed to study up, then devote 25 hours per week to playing online (in whichever way), while turning the highest amount of profit while still keeping the activity enjoyable.

I want to begin with a $100USD bank roll, and through bonuschasing - build it while i learn to play the game. I want to be able to say I built my entire bank roll from $100.

I'd eventually like to be a participant on the forums somewhat like Ed Miller - helping people using my advanced knowledge, and perhaps bringing some additonal ideas due to my trading expertise/education.

So I'd like from all the knowledgeable members of 2+2, for you to watch as I post my monthly (maybe fortnightly?) progress and throw advice at me/critique me.

Now here is the situation:

- I've "whored" some casinos, turning the bank roll into $370.
- I've ordered:
- Ed Miller GSH
- Ed Miller SSHE
- Sklansky TOP
- Sklansky HPFAP

While at school, i read alot of books and taught myself to trade. I'm very confident I can learn poker this way in a reasonably short amount of time.

What I'd like you guys to help me with:

- Which order should i read the books in?
- What should I concentrate on?
- Which other books are good for my position?

- Assuming I begin live online poker with a $500 bank roll (after turning 100 into 500 through casino whoring), where should I start - seeing that I want to take maximum advantage of all bonuses while building the bank roll, and will eventually play alot on the larger sites (where rakeback will come in handy)
- Which programs should I buy? (anything other than PT?)

- Any other tips? etc etc

So guys, help me with my mission. It's a chance for you guys to collaborate and "build me" as a poker player.

Thankyou!
Alex

[gotme]

One more thing.

Could someone how me to establish theoretical aims?

Say with putting a solid amount of effort in through reading and playing (and thinking) - where should I be in 3/6/12/24 months?

These will be my perfomance indicators so to speak.

Thanks

[SheridanCat]

Welcome and good luck with your pursuit.

[ QUOTE ]

- I've ordered:
- Ed Miller GSH
- Ed Miller SSHE
- Sklansky TOP
- Sklansky HPFAP

- Which order should i read the books in?


[/ QUOTE ]

My first book was TOP, and that was probably not the way to go. Here's an order I like:

GSH
TOP
SSHE
HPFAP

[ QUOTE ]

- What should I concentrate on?


[/ QUOTE ]

For starters, get used to playing using the starting hands guidelines in GSH. You just need to get used to knowing what hands to play and why and GSH is a good introduction to that. Money is made and lost on the flop, so that's the next thing to pay close attention to, and Ed Miller goes into that.

[ QUOTE ]

- Which other books are good for my position?


[/ QUOTE ]

Inside The Poker Mind by John Feeney
Improve Your Poker by Bob Ciaffone

[ QUOTE ]

- Assuming I begin live online poker with a $500 bank roll (after turning 100 into 500 through casino whoring), where should I start - seeing that I want to take maximum advantage of all bonuses while building the bank roll, and will eventually play alot on the larger sites (where rakeback will come in handy)


[/ QUOTE ]

See the sticky post at the top of this forum for some good links on bankroll building and whoring.

[ QUOTE ]

- Which programs should I buy? (anything other than PT?)


[/ QUOTE ]

You might consider Poker Academy as a training device. It's not cheap, but it will help some as it plays an okay game of poker. Also, get ahold of Poker Stove at pokerstove.com - that will help you run quick simulations.

[ QUOTE ]

So guys, help me with my mission. It's a chance for you guys to collaborate and "build me" as a poker player.


[/ QUOTE ]

Read the other forums, post hands as you get interesting ones and have fun.

Most of us are already trying to build ourselves. [img]/images/graemlins/smile.gif[/img]

Regards,

T

[SheridanCat]

[ QUOTE ]
One more thing.

Could someone how me to establish theoretical aims?

Say with putting a solid amount of effort in through reading and playing (and thinking) - where should I be in 3/6/12/24 months?


[/ QUOTE ]

This is a very difficult question to answer. It's important, in my opinion, not to focus on results. A results-oriented approach can lead to ruin as you fail you meet the goals. The problem is, with luck involved, you can't gauge your overall progress based on short-term results. I'm not sure if this is true in futures trading, but poker is a long-term game. Variance will take it's toll. You can play perfect poker for 3 months and post a loss at the end of that time.

My suggestion is to set a goal of playing break-even poker for the next 6 months as you whore and build bankroll. Then set a goal of 1BB/hour (or, say 2BB/100 hands if playing online) but don't be disappointed if you don't make it.

Your result has no direct relationship to your ability in the short term.

Regards,

T

[AKQJ10]

To the OP: Your plan sounds good. Frankly it sounds like something I would come up with, carry out for about a month, then wander away from to go play sit-and-gos or Omaha or whatever.

Speaking of which, I notice from your reading list that you're mostly concentrating on limit hold 'em. I can't find fault, as I've done the same myself to some extent, but I'm curious: what's your motivation/reasoning for not joining the NLHE craze? (The good news is that most forms of poker appear lucrative for the foreseeable future.)

As for SheridanCat's very important point, one could restate it as: The most important performance metric isn't big bets won, but rather hours (or hands) played. With the books you're reading, just play enough and results will take care of themselves.

[fnord_too]

[ QUOTE ]

- Which order should i read the books in?
- What should I concentrate on?
- Which other books are good for my position?



[/ QUOTE ]

Sounds like you are starting in limit hold'em. I would suggest getting "Weighing the Odds in Hold'em Poker" by King Yao first, followed by "Small Stakes Hold'em" by Ed Miller and "The Theory of Poker" by David Sklansky.

Also, post hands in the appropriate forums and participate in the discussion of hands in the forums.

Move up as able (lots of advice on the boards about taking shots and when to make jumps), read Homer's guide to building a bankroll (I'm sure someone will link it) and try new games when your bankroll can whether some experimentation.

[AKQJ10]

[ QUOTE ]
Move up as able (lots of advice on the boards about taking shots and when to make jumps), read Homer's guide to building a bankroll (linked in the thread stuck atop the forum) and try new games when your bankroll can whether some experimentation.

[/ QUOTE ]

FYP [img]/images/graemlins/tongue.gif[/img]

See also http://poker.wikicities.com/wiki/Beg...d_I_move_up.3F

[gotme]

Thankyou to everyone for the excellent replies.

In contrast to most online trading forums, this place actually has quite a number of helpful people who know somewhat what they're talking about!

On a side note, i'd like to contribute to these forums - I'll answer questions in the stock market section - it's the least I can do.

I'll keep you guys updated through out my journey - and I'll try keep it interesting every step of the way.

Thanks again!
Alex

[gotme]

Hey,

One thing I'd like some advice on:

I'd like to be future proof with regards to rakeback.

I hear that party/paradise don't give you bonuses if you get rakeback, and bonuswhores doesn't have alot of info on this.

Which sites should i sign up with rakeback?

[lastsamurai]

try bodog for rackbacks.