Bankroll Management Saves the Day

Recently, I have suffered a series of losses that have made me appreciate the bankroll management rules I have been following.   In the past, I probably would have gone broke by now.  Chris Ferguson's bankroll mangement tools have allowed me to keep playing as I am not risking a large portion of my bankroll on any given tournament. Recently, I have bubbled quite a few tournaments.  I have had a few small wins, but overall I am down over the last week or so.  My bankroll is now at $112.51.  I will admit, my focus lately has not been that good.  My mind has been elsewhere.  My wife and I recently found out that she is pregnant with our second child, so we have both been preoccupied with that.  Going forward, I will try to take it one hand at a time and make the best decision I can with each hand I am dealt.

$140!!

I have been playing 18 and 27 player SNG's like crazy.  I was on a bad losing streak, but I just took 2 first place finishes and 1 second place finish.  My bankroll is now at $141.98.   This is my highest my bankroll has been since I started this experiment.   I am approaching $150.  There is a $3 SNG I have been wanting to play, when I get to $150, I will be able to take a couple of  shots at it.  It is a knockout tournament, meaning you win cash for each player you eliminate, which in this tournament, is $.50. 
I have not played many large field tournaments as I have  been pretty tired when it comes time for them to start.  Last week was a crazy one, but hopefully this week wont be as hectic and I will be able to focus on my blog and my game.

Slowly But Surely

I apologize to my readers for lack of posts.  It has been pretty hectic at work this last week.  By the time my daughter goes to bed and I play for a couple hours, I am too tired to put anything together.  Hopefully next week will be easier. 

I have broken the $130 mark.  After failing to cash in a couple of multitable $2 tournaments, I tried my luck at some single table $5 SNG's.  According to Ferguson's rules, I can play a 1 table SNG for up to 5% of my bankroll.  I lost a couple and had a 1st and a 2nd place finich to push me up to $136. 

Today, on my lunch break,   I was reading the Full Tilt Strategy Guide.  In the chapter written by Chris Ferguson, he talked about having a purpose when you bet.  The reasons for betting are threefold:  to get a better hand to fold, to get a worse hand to call, and to protect your hand against draws.  He also talks about many reasons not to bet.   If the board is KQ936 and you have 88, the only hands that can call are hands that beat you.  Why would you bet in this spot?  On the other hand, if you check and your opponent bets, maybe you have him beaten.  He could have a hand like AJ or maybe he missed his straight for flush draw.  This is a good spot to check to induce a bluff.  If he bets and you have put him on a straight draw or flush draw, you can call and win a bet that you otherwise wouldn't have.  If you had bet and he had nothing, he would most likely fold and you win a smaller pot.  If you bet and he calls, he has you beaten.  I found this to be a very interesting approach and will try to incorporate it into my game.  This is just a small portion of what he talked about in his chapter.  I hope to be able to discuss more of Ferguson's poker theory in future posts as I find it very interesting. 

In the mean time, I will keep plugging away at my $10,000 goal.  Only $9,870 more to go!!

Holding Steady

The last couple days have been pretty neutral as far as results.  I failed to cash in several tournaments, but took down second in a 27 player SNG.  My bankroll is holding steady at just under $129. 

I played a large field tournament last night, but failed to cash.  For the most part, I tried to keep the pots small unless I had a very strong hand.  There is one hand I am particularly proud of.  I was 2 behind the BB.  The player UTG raised to 3 times the BB.  I had AK suited and reraised about 2.5X his bet.  He repopped me for all of my chips.  I had been watching this player for quite a while and he had been quite aggressive.  He been bullying other players with large preflop bets.  I thought for a couple minutes and finally decided he was making a move on me.  I called his all in and he showed K4 offsuit.  Nice call!!  He didn't improve his hand and I doubled up. 
Late in the tournament, the following hand came up.  I had AA in middle position.  I raised to 2.5X the BB.   The button, who was the tournament chip leader,  reraised 3X my bet.  I four bet and the button moved all in.  Of course, I called.  He turned over Q5 of spades!!!  On the flop he flopped a 5 and a spade.  The turn and river were both spades and I was eliminated in 97th place.  Oh well, there is always next time.  I got my money in good and thats all I can do.  I am happy with how patiently I have been playing.  I know it is just a matter of time to my first big win.

Cashing Small....... Again.....

Last night, I cashed in a $2.25 large field tournament, but only made the 2nd level of pay.  When I cash, I seem to be stuck in the lower levels of pay outs.  Its my curse.   I just  can't seem to get to the upper levels of pay.  I seem to do well in the 45 or 27 player tournaments, but the large field cashes elude me. 

I play well enough to cash almost every time I enter a large field tournament.  You would think that I could play well enough, or at least get lucky enough to move up the pay ladder at least a little bit.  Take last night for example:  out of over 600 players, I was knocked out in 50th place.  Once we made the money, I just couldn't win a hand.  JJ no good, QQ no good, AQ no good.  Frustration is setting in.  I hope it doesn't affect my play.

On a good note, I took 2nd in a 27 man SNG.  My bankroll is now just over $129.  I am increasing it slowly, but steadily.

Uneventful Week So Far

As the title to this post would suggest, this week has been uneventful.  I have played a few $2.25 large field tournaments, but have not cashed in any of them.  It looks like the 8 PM Pacific time $2.25 tournament averages about 600 players.  I have been close to the money, but just haven't quite made it.  I need to find a way to accumulate more chips early on.  I feel I have been playing pretty well.  It is rare that I put my entire stack in danger.  I have been patient and wait for good spots to get my chips in.  It is just a matter of time before I have a good finish in one of these.  I am consistently getting through most of the field, but keep finishing just outside the money.  Tonight, I finished 71st out of 609 and 63 places are paid.  When it got close to the money I was short stacked and I was trying to find spots where I could steal blinds or double up. On my last hand I was on the button with Q9 of spades.  I moved all in and the BB called with KQ.  A K fell on the flop and my tournament was over.  I will keep at it until I have a strong finish.  First place tonight paid almost $300.  That would be a nice boost to my bankroll experiment.  My bankroll is now at $110.06.

Good, But Not Good Enough

This evening I played in a $2.25 large field tournament.  There were 569 players.  This is the first night I haven't played "The Ferguson" in a couple of weeks.  The $2.25 tournament starts much earlier and the field is not as large, so it works out much better for me.  I am not up as late as I would be in "The Ferguson", which was starting to be a problem beacause when I made it deeep, I was getting really tired and barely staying awake.  I am looking forward to playing more of this tournament.

  It took a long time for me to accumulate any chips.  In the beginning of the tournament, I limped in position with a lot of suited connectors, small pairs, etc...  I was unable to hit with any of them.  I didn't pick up any other playable hands for quite some time.  The failure to hit a flop along with the blinds whittled my stack down to 1000 from the original 1500.  By the time the blinds reached 40/80, I was down to 860.  I finally picked up a couple of good hands and had my stack up to 1200 by the time the 50/100 level came.  This hand is where I finally turned things around and started to accumulate chips.  I had 22 in the hijack.  I limped hoping to see a cheap flop.  The SB who had been pushing the table around, raised to put me all in.  I was 100% sure he didn't have a pair.  At this point, with the blinds getting higher, I didn't mind a coin flip.  I called and he showed J9.  He failed to improve and I doubled up to almost 2700.  Now I had some chips to play with!  I continued my patient play and picked my spots carefully.  I played position and tried to control the size of the pots I played.  I made a couple of good calls and one huge laydown.  The following is my big laydown.  The blinds were 100/200.  I had TT in middle position.  I raised to 550.  The cutoff reraised to 1800 and the button smooth cold called.  Something about his call screamed AA or KK.  I decided to fold.  The flop was 963.  The cutoff moved all in and the button called.  The cutoff showed 88 and the button showed AA.  If I had called the reraise, I'm sure I would have been all in on the flop and would have been eliminated. 
After this hand, not much happened, I slowly and steadily built up my stack by taking stabs at small pots and taking down blinds and antes.  As the money bubble approached, play slowed down quite a bit.  Most players at my table had me covered, so I wasn't able to be too active as far as attacking the blinds.  I did pick up a couple of hands and took down some small pots.  The money bubble finally burst and one player at my table snuck into the money with only 54 chips left and the ante was 75. 
After the bubble burst, play picked up again.  I was able to take down a few good pots and moved up to 9th in chips out of the remaining 50 players.  I was hoping to make a deep run, but the following hand came up.  I had JJ in late position. I had about 39K in chips.  The bliknds were 500/1000 with a 125 ante.  I raised to 3000.  The button reraised to 10K.  I wanted to see a flop before I decided if my hand was good, so I called.  The pot was now over 21K.  The flop was KKT.  Not a good flop, but not a bad one either for my hand.  The only hands I am afraid of are AA, AK or QQ.  I move in for my remaining 19K.  The button called and showed AA.    I was eliminated in 42nd place for a cash of $3.70. 
I am kicking myself for not getting away from this hand before the flop.  I was out of position in what was going to be a big pot.  If I had gotten away from this hand and continued my patient play, I am sure I could have made it to the final table.  First place paid almost $300.  That would have been a bankroll booster.  Oh well, there is always next time.
My bankroll after this tournament is at $116.81

Bad Play

My results yesterday and today are below average.  Overall, I am down about $5.00 for the last couple days.
Last night, I played in a couple of large field $2 tournaments.  I failed to cash in either one. 

Today, I was in good position to make a final table, but made a bad play that killed my momentum and my chance to make the money. 
I had picked up a few big hands and had about 7500 in chips.  I was the chip leader.  Blinds were 60/120.  I had AQ 2 off the BB.  I raised to 300.  The player to my immediate left moved in for 2700.  I had played with this player before and had seen him make similar plays.  I put him on an AJ or AT or an under pair.  For some idiotic reason, I decide I dont mind playing a coin flip.  He had 77 and I failed to improve.  He doubled up and I went from chip leader to 5th in chips.  After this hand, I was tilting.  I made the final table with a small stack.  On my final hand, I had A6 and pused allin for 900.  The blinds were 120/240.  The BB called with KQ and spiked a K on the flop.  I was eliminated in 6th place.
Looking back at the AQ vs 77 hand, I don't know why I called.  If I had stopped to analyze my situation, I would have realized the following:
1.  If I fold, I will still be the chip leader.
2.  If I call and lose, I will move from 1st in chips to 4th in chips.
3.  If I call and lose, I will be giving a large amount of chips to a dangerous player in a marginal situation at best. 
4.  Folding in this spot is not a bad play, the blinds are still low enough that I can wait for better spots to pick up chips.
5.  At best, I am a coin flip.  I could very easily be up against AK in this spot.
All of these reasons should make for an easy fold.  I really have no idea what possessed me to make the call in this spot.   If we had made the money already and I was just trying to move up the pay ladder, I would be ok with this play, but it was still early in the tournament.  I am very unhappy with how I played this hand, and will definately try to avoid these situations in the future.

After this tournament, my bankroll is at $105.19.

Asleep at the Wheel

I played 2 tournaments last night.  I played a 27 player $2.25 SNG and "The Ferguson" $1 tournament.

I was able to take 2nd in the $2.25 tournament for a cash of $12.42.  I should have won this one, but had some bad luck.  Going into head up, had a 3:2 chip lead.  A few hands in, the following hand came up.  I had AJ in the BB.  My opponent limped and I raised.  My opponent called.  The flop was A92.  My opponent had been pretty aggressive, so I decided to check and give him a chance to hang himself and to diguise my hand.  The turn was a Q.  I bet hoping that he had hit something on the board.  He came over the top for all his chips.  I called and he showed Q7 for 2nd pair.  I was in great shape to win the tournament, but a Q came on the river and he doubled up.  I was never able to recover after this hand.
I made another good run in "The Ferguson".  I went out in 116th place out of 1690.  I cashed for $2.20.  It is emberassing how I was eliminated. After we made it to the money, I was very tired and kept falling asleep.  Usually, it would beep when it was my turn, and I would wake up and play my hand.  The next thing I knew, I woke up and looked at the screen and it said I had been eliminated.  I had blinded off all of my chips!!!   I must have been asleep for over an hour. With the blinds as high as they were, I figure it took about 14 orbits to grind my stack down to oblivion.  How emberassing!!  I have to find a way to stay awake when I am deep in these tournaments.

Over $100/First $2 Tournament

I finally broke the $100 mark today.  I took 3rd in a 27 player $2.25 tournament and it pushed my bankroll to $100.85.  I like the 27 player tournaments for $2.  You are playing for similar prize money as in the $1 45 player tournies, but you don't have to get through as many players. 
Hopefully, I can continue at this pace and keep adding to my bankroll.  I still have a long way to go to get to $10,000, but I am happy with my results so far.
To help me track my progress, I have started a spreadsheet that keeps track of my percentage of cashes, my average profit per tournament, and my return on investment.  I was surprised at the numbers.
This is how the #'s look so far for the 45 tournaments I have entered into the spreadsheet.
I cash in 33.33% of tournaments I play.
I profit $.98 per tournament.
My return on investment is $44.29 profit on $56.06 worth of buy-ins for 79.02%
My average cash is $6.69.
This is the first time I have analyzed my results from a statistical standpoint.  I believe it gives me better insight into how successful or unsuccessful my play has been.  If anyone has any other ideas on how to analyze my results, I would love to hear them.

$98!!!

It's my day off and I am alone in the house.  It is so peaceful and quiet.  My plans for the day are to take lots of naps and play poker.  I may see a movie later. 
I just finished a 45 player SNG and was able to take down 1st place.  Once play was short handed with 5 players, I was able to accumulate a lot of chips.  Whenever, it was blind vs. blind, I would make a minimum bet after the flop, regardless of what I had.  75% of the time, the other player would fold.  By the time it was heads up, I had a substantial chip lead, and it didnt take long to eliminate my heads up opponent.

 This brings my bankroll up to $98.96.  It looks like I can take a couple shots at some $2 tournaments.  If I drop below $90, I will go back to the $1 tournaments.  Unfortunately, there are no 45 player SNG's at the $2 level, so I will probably have to play 27 player or 90 players.  The 90 player payout seems rather flat though.  18 players are paid and top prize is only $22 in a $1 tournament, whereas in a 45 player $1 tournament, top prize is $17.10. 

On a good note, it looks like Full Tilt reduced the rake on a $1 tournament.  Previously it was $.25, now it is only $.10.  However, it looks like they time for each level from 10 minutes to 6 minutes.  The last tournament I played lasted for 18 levels, so the 4 minute difference on the levels is definately going to affect the way people play.  Hopefully it will make them less patient and they will stack off with marginal hands.

So far, following Chris Ferguson's bankroll management rules is paying off.  I think the biggest advantage of the system is that you are never playing "scared" money because you are risking just a small portion of your bankroll.  This gives you the confidence to make big plays when they are warranted.  The best players are able to make big plays without fear.  This bankroll management system gives you the ability to do that.