Poker Blog - The THF Blog

Welcome to the new blog and the new journey to full time professional poker player. Obviosly explanations are in order for my readers who find this new journal. Basically, for all intents and purposes I ran out of poker funds.

My $150 deposit at PokerRoom was lost playing SNG’s 2 ITM in the last 20 or so, trying to clear the ramainder in a $2/$4 game, and the final $50 or so at PokerRoom’s 10 cent slot machines. Bottom line, minus $150. The rest of the money was unavailable as it had been “temporarily” used and/or borrowed, but it got to the point where it was going to be awhile before household and myself for that matter could repay. I let it get out of control. I am at fault for this and I have learned my lesson from it. It’s not just at the poker tables you have to maintain your poker bankroll, it’s day to day life and expenditures. It was so easy to say, “Oh I’ll borrow this or that from the bankroll and pay it back later.” Or if household ran a bit short before payday so easy to “borrow” from the bankroll, but as I am nothing but a cashier working retail and my wife on disability due to a heart condition, money is usually very very tight and when it comes time to pay back bankroll, the money is not available to pay back and we run into a situation like now. Bad play on my part losing over one fourth of the total roll and the rest of it not available to access. All of this adds up to, in essence, “being broke”.

Being without a bankroll is probably the worst feeling in the world for a serious poker player, but it gives me time to think and evaluate my current situation and to also evaluate where I am going. On a good note 2006 showed profits of $680. $580 of that now officially “withdrawn” and $100 of that available on the September 1. No matter what happens the rest of this year that $580 can not be lost. It’s not much to grab onto, but for now it’s the only glimmer of positive thinking I can grab onto. I have made mistakes. to be sure and I, like all of us, am still learning about every aspect of poker, bankroll management, and everything else that comes with this life. The learning process will continue and I will have learned valuable lessons from all my experiences. September 3, 2006 will begin the new journey. Hopefully this road will have avoidable potholes. I will begin it with the forementioned $100.

The Blueprint:

$50k broke down as follows.

Bankroll ——————————– $20k

Emergency Monthly Expenses ————– $12k

Moving Back To Oregon For Good ———- $6k

Used Car or Down Payment On A New Car — $7k

Misc Expenses ————————— $5k

How To Achieve This:

Believe it or not I, StarlightCoast, will be multitabling. Yes, even with all the troubles that has presented in the past I am determined to get in the hands needed. If I lose the 1000 big bets it will prove once and for all that multitabling is not for me, or that I never gave it enough of a chance in earlier attempts. Whatever the answer this $100 start will give me the final answer. This is an all or nothing deal. I will start at .05/.10 limit Holdem and I will 8 table. I know some will say that this may be too many tables, but I have done this before. The problem has never been inability, rather results that were less than great. Poker Stars is the only p[lace I would ever think of attempting this as when it is time to act on a table they bring that table to the front and it stays there until I make my play, then the next table comes to the front. It is an awesome system and easy to use.

I will not bonus chase. The experience at PokerRoom confirmed for me more than ever that I am simply not cut out for this right now. I try to chase something down and lose $100 or $200 in the process, that really hurts a $500 or $600 bankroll. But if I had the roll for $5/$10 and then chased bonuses playing $1/$2 as I find the bonuses clear best at that level and higher, then it would not hut as much. So to that end, I will bonus chase playing the $1/$2 tables when I have the bankroll to support $5/$10 and not before.

I will never again allow myself to lose more than 10% of my bankroll in a single session. My sessions are generally earrly am and in the morning.

I will play 10,000 hands a week. 250 a day times 8 tables equals 2000 a day. Five days a week this is 10,000 hands. If I find myself short of this amount I can utilize the weekends to make up the deficit of hands played. Other than that I take the weekends off from poker.

Unless an absolute emergency, bankroll will not be making loans and I will not be “borrowing” it for Chinese food orders when I am at work. That stuff gets expensive and is one of the ways me “borrowing” from the bankroll got out of hand.

I will add what I can to my bankroll and lord knows it’s not much, but the more I add the better off I am. i will not let pride get in the way and withdraw the original “stake” as I did last time so I can say “I am playing on all profit” This may be something to be proud about, but not something that helps anything except my own ego.

I have developed a bankroll management plan and will stick to it. I am quite proud of my discipline regarding this for the last 7 months or so. The PokerRoom slip up was the only time I faultered.

For all limits I will 8 table utilizing a bankroll of 1000 big bets. When I have 1000 big bets for the next level I move up, not before. When I hit $5/$10 I don’t believe there will be 8 available tables for that limit so I will play what I can and fill the rest with what is available. I am figuring that at 1.5bb/100 hands……… if I can maintain that multitabling, and that is a big if as I am not experienced enuough in multitabling to know, but if this can be done, then I should be at each level for an average of less than 2 months. Target date is still January 2008 or sooner. This will be the only chart I create regarding this. No matter what may come up in the course of life I will adjust, but I am keeping this goal chart for the long haul.

$100 —- .05/.10 — $15/Week — 6.7 weeks

$200 —- .10/.20 — $30/Week — 10 weeks

$500 —- .25/.50 — $75/Week — 6.7 weeks

$1000 — .50/$1 — $150/Week — 6.7 weeks

$2000 — $1/$2 — $300/Week — 6.7 weeks

$4000 — $2/$4 — $600/Week — 6.7 weeks

$6000 — $3/$6 — $900/Week — 4.4 weeks

$10,000 — $5/$10 — $1200/Week (4 Tables $3/$6 4 Tables $5/$10) — 8.3 weeks

$20,000 — $10/$20 — $1450/Week (1-$10/$20 4-$5/$10 3-$3/$6) — 6.9 weeks

$30,000 — $15/$30 — $900/Week (4 Tables $15/$30 4 Tables $5/$10)— 6.7 weeks

$50k Full Time Pro Living In Beautiful Coastal oregon. What Could Be Better.

Needless to say all this could change if the Senate passes that assenine Internet Poker Bill. Continuing to play would not be an issue unless the ISP’s could stop me from loading the software on my comp, software I already obviouysly have downloaded. If that were to happen then we will have to see what options are available to me in a live setting.

Will begin day 1 on 9/3/06. I will give weekly reports and try to also provide mid week reports on Wednesdays along with posting on whatever may come up in my life and poker.

Well that’s all for now. I will spend the time between now and Monday checking out forums, playing tournies on Pogo with the wife and relaxing. I hope you continue to stay tuned for more entries and follow along my adventures. I really appreciate all my readers and the valuable advice they offer. It is much appreciated.

Bankroll $100