Sunday, May 07, 2006

Not playing enough poker !

At the beginning of this year I had set myself a goal of making a profit this year of $4000 dollars. This seemed a reasonable figure at the time, as in 2004 I was approx $1900 in profit, followed by $2900 profit last year. However we are now in May and I am currently approx $700 up on the year. I think to reach my target I should have been slightly higher than this at this point.

I think that there are a few reasons for this. The first reason is that I don't think I am playing as much at the moment as I did last year, which has an obvious effect on income. Over the last couple of months, I have a lot on my plate with work and at home, plus a lot of piss ups that I have just "had" to attend. The second reason is that I have effectively dropped back down a level. I have strict policies on playing within my bankroll. Last year, I was playing all my Sit and Go's at the $20 level and playing multi's also up to $20 as well. But then, I decided to use some of my profit and took out a few thousand dollars to pay for some new golf clubs and a golfing holiday in Ireland. My determination not to have to put any money into a poker account after I have made the initial opening deposit has thus made me drop down to the $10 sit and goes (mainly on stars) and lower entry MTT's until I build my bankroll back up. As my ITM is normally between 45-50 % this can be a slow process if I don't get the chance to play as often as I would like. This is very frustrating, as I know I can make a profit at the higher level. But I will stick to my guns and move up when I reach my targets in the relvevant accounts.

I would be interested to hear if anyone else has comments on this sort of bankroll management. I do want to be playing at the $100 sng in a few years time, then when at this point, I would love to live my dream of doing this full time, but I have a hell of a lot to learn first. Any comments would be much appreciated.

Goth.

1 comment:

Anonymous said...

Super color scheme, I like it! Good job. Go on.
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