------------------------------------- Bankroll: $33.33
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Since the last update, I have continued grinding out the $0.25 games. I was achieving very rapid success until I hit 30$. From there on it was a struggle; I ran into some ugly variance and faced a bit of a downswing that turned into a 10-session, 40 hour, 10 day lon plateau. However, Chapter 1 ("Entry Level") of this challenge has come to a close as I have decided to prematurely move to the next level. Overall, I am pleased that I have survived a month with about a 20$ profit and look forward to having quicker success.
FUTURE PLANNING / STRATEGY UPDATE
In general, I find these general guidelines efficient and will continue to apply them to my bankroll management for the challenge:
(A): 30 - 40 buyins for all Sit & Gos
(B): 20+ maximum buyins for cash games
(C): Additional 5-10 buyins from the minimum to multi-table
So far, this strategy has allowed me to triple my starting amount in just a month (pretty fast considering the limits I'm at).
However, I have now reached a crossroads. Initially, my 'big' short-term goal was to reach 41$ so I could continue the 90-player Sit & Go's at 1$ instead of 25 cents. Unfortunately, Pokerstars only has turbos -and these have probably twice the variance of non-turbos. This leaves me to set 88$ as the next benchmark, until Pokerstars issues some non-turbo 1$ games.
At the rate I am going, this will take another 2.5 months just playing $0.25 games before I can move on. Therefore, I have decided to alter my bankroll management plan until I reach 88$. It is definitly worth being slightly more liberal / unorthodox than to grind for 2 and a half months; I am already starting to get a bit restless after a month of grinding.
Here is the plan:
Phase 1 -- I am currently at 30$. Here's what I am going to try:
Play the 2$ 90 player Sit & Go. If I lose and go below 30, play 100% $0.25 Sit & Go's until I am > or = to 30$. Repeat the process until I place in a 2$. My goal here is to "jump start" by bankroll to get myself making some efficient progress. Now, this in itself is NOT good bankroll management. However, I have a back-up plan. When I lose and duck below 30$, I will rely on the $0.25 games until I get back up to try, try again; this would probably sacrifice 1-3 days (affordable considering my other option to take 2.5 months!). So far I am a winning player at the $0.25 games and am confident that I can use them to keep myself at the 30$ plateau.
Phase 2 -- Keep mixing up the $2.20 and $0.25 games as I progress towards 88$.
Once I succeed in Phase 1 - I will play a mix on $2.20 and $0.25 games. The ratio will largely depend on my mood, but it will be no more than 50%-60% 2.20$ games, until I pass 60-70$.
The general rule of thumb is to make a rapid increase --> small plateau --> rapid increase (hopefully like a steep staircase).
I will also mix in $1 MTTs every now and then, once I pass 40$.
Hopefully this method will be much more efficient (and certainly more entertaining) than relying on grinding out the $0.25 games.
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SESSION 31
$1.10 MTT [$2000 GTD]
Place: 1659 / 4227 [39.25%]
Profit: -$1.10
$2.20 90 Player Sit & Go
Place: 28 / 90 [31%]
Profit: -$2.20
$2.20 90 Player Sit & Go
Place: 50 [56%]
Profit: -$2.20
Bankroll: $27.83
I began this new program tonight, and had ZERO success, as shown above. Here's a bit of commentary for my first 3 next-level games:
1) I ran into JJ , but an opponent ran into pocket aces. This was probably more my fault though.
2) I ran into JJ again, raise 3.5 x BB , was called by J 9 diamonds. Flop had all undercards, with 2 diamonds; I bet half the pot (bad bet in hindsight), but he raises me all in. Pot committed, I call; he has the flush draw (60: 40 favorite), and hits it! :)
3) One last try. I come across AA. Preflop, there were like 5 callers, so I raised it 5 x BB. I had 2 callers. Flop came K 7 8; I bet pretty strong, was raised all in, and really, I can't fold A A can I? The aggressor had K 7, two pair, and beat me.
So my starting games were unsuccesful, but in general pretty well played. I was the favorite 2 / 3 times, and in the second game, if I had won that hand, I would have been 5th place out of 23 - a surefire final table! In the end, I like my chances on this upper level.
But for now, I will grind out these $0.25ers again until I reach / exceed 30$. I am still hoping to be well on my way to 88$ by the end of the month - I have expectations to be at 41$ by then but hopefully I can make better progress than that.
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