Update on my situation

[PokerGoblin]

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

[LowDown22]

I think you need to get a job. You already admit you're bored by limit ring games and you're not playing at a high enough level in SNGs (nor enough of them) to make a decent living IMO.

[PokerGoblin]

Yea I know. I was sorta forced into this, I have had good amount of success playing poker this year, but it does work a lot better as a disposable income as opposed to a primary income. Right now the plan is to take the summer off, I have my daughter every day instead of putting her in daycare, and with the house needing some improvements and such I can use the time.

It's not going too badly, I know $10 SNG's are not going to get it done, but it helps everall. Basically everything I do is all just a small piece of the plan. No one is more important than another.

PG

[SmileyEH]

Your EV is not $14 per $10SNG, unless you mean you have a 40%ROI. It is impossible to have a ROI over 50% or so even at the $10s.

Good luck though.

-SmileyEH

[augie00]

This made me lol, literally:

[ QUOTE ]
I have been trying to make my new living as a poker player.

[/ QUOTE ]

[ QUOTE ]
Playing several hours straight is not for me.

[/ QUOTE ]

Get a job.

[XXXNoahXXX]

I think its about time you start training "The Midget" on the microlimits. Buy her a nice little iBook and you killed two birds with one stone. You won't have to pay for daycare and you get a new source of income once she gets a hold of pot odds/equity. Plus it'd make for a great X-mas card next year, a shot of the two of you sitting side-by-side multitabling. The 2023 main event is right around the corner and she's in prime position to take it down if you get started soon.

[PokerGoblin]

[ QUOTE ]
Your EV is not $14 per $10SNG, unless you mean you have a 40%ROI. It is impossible to have a ROI over 50% or so even at the $10s.


[/ QUOTE ]

I should mention this is on a very short scale, less than 100 SNG's, and there were a few $20 SNG's that I won that I included in that as well. By no means am I delluded into thinking that these results are concrete. All I said in the OP was that I have been running fairly well in SNG's.

PG

[PokerGoblin]

Augie,

Grinding limit hold'em for several hours straight is tedious. I pretty much can only do it if I am also in a MTT as well. I can play MTTs for hours on end with no problem.

My problem isn't that I can't do it or stay focused, it's that sometimes good games are hard to find, and a lot of times they don't stay good. Rarely do I find a good limit HE game on party I can stay at for long periods of time.

That said I do know bouncing around from table to table is part of the equation.

Getting a job and going back to playing 15 - 20 hours a week is probably the best solution long term. Right now I am going to enjoy the summer with The Midget and go from there.

Later

PG

[augie00]

As long as you are planning on getting a job soon. Playing several hours straight simply must be done in order to be a sucessful player. You gotta play hands.