How High Can You Get?

Wow, after reading this thread over and over I was really motivated to switch from mtt back to cash. I've just recently started playing 5NL with 30 buyins and I'm trying to follow the kind of bankroll management rules you've used. What are your general idea's on cashing out from bankroll aswell? Also would love to see more constant updates.

Cheers

Thanks, glad you enjoyed reading. This year I'll probably pop in at least once a month to do a check-up on my $25k progress plus if I'm lucky enough to move up to the next stake, I always post about that, too.

As for cashing out, my feeling is that you can do it whenever you like, BUT if you plan to spend that money or take it out of your bankroll, then you have to win it back @ the tables. As a simple example, you've got $2,500 in your bankroll playing $50NL and are eager to play $100NL, where you need at least $3,000 (30 buy-ins). You withdraw $500 to spend on a net-book. Now you have $2,000 and have to win $1,000 more instead of $500 before you can think of playing $100NL.

To this point, I haven't really withdrawn any money because I want to keep moving up. I personally think withdrawing money slows down players' progress because withdrawing the money is basically like losing it. However, a separate issue to consider, I'm at the point I have so much money online, I'm considering taking some of it out, but not to spend it, rather to put it in the bank where it's safer and can draw interest, but also be available to me to deposit if I need it again. If you withdraw in that sense and don't spend it, it's fine and still part of your bankroll.

It's also acceptable to "pay back" your bankroll if you want. So, if you bought a $500 net-book, you can then make $500 from your day job and later redeposit it into your bankroll if you have it and want to replenish it. That's acceptable, BUT you can't lose $500 at the tables and redeposit $500 to make up for THAT $500. The only money you can "pay back" is money that was withdrawn.

Good luck @ $5NL and moving up the stakes.

Originally Posted by Jason

, I'm considering taking some of it out, but not to spend it, rather to put it in the bank where it's safer and can draw interest, but also be available to me to deposit if I need it again.

do this
and RSA tokens are where it's at - just in case you don't have one already

The first quarter of 2010 is over.

YTD Total $7,749.80 (+ $1,499.80 ahead of pace)
March Total $2,254.70 (+ $171.37 ahead of pace)
February Total $2,982.97 (+ $899.64 ahead of pace)
January Total $2,512.13 (+ $428.30 ahead of pace)

March Total ---> $2,254.70
Venue ---> Profit ---> Profit%
PokerStars ---> $2,646.85 ---> 117.39%
PokerStars Bonus ---> $200.00 ---> 8.87%
FullTilt Rakeback ---> $82.25 ---> 3.65%
Live Games ---> $53.25 ---> 2.36%
FullTilt ---> -$727.65 ---> -32.27%

I've spotted a few leaks and am trying to take steps to plug them. On FULL RING tables, I think I've made some very nice progress in my HU and shorthanded game and had several AHA moments. To celebrate, I decided to play more HU @ HU tables and unfortunately it didn't go so hot as my initial shot didn't. It's amazing how FULL RING players seem to have an overall different style, approach, and personality compared to HU and 6max players EVEN if you're playing the same game like HU or 6max on a FR table. It's hard to say how much of my shortcomings on HU tables is due to my bad play versus villain good play versus HORRIBLE rake structure versus bad luck, but at any rate, I think I just need to stay away from HU cash tables for a while UNLESS Stars or Tilt offer lower stake games @ a reasonable rake structure (not likely). I'll try to satisfy all of my HU needs in the full ring forum OR micro stakes HUSNG's for the time being. Another leak that has slowly revealed itself is playing on my laptop. At first I was a big loser, then brought it even, and now it's just been a slow, steady decline. I've been wanting to study more and analyze villain's play more and I've decided that I'll start doing that on my laptop instead of playing. I think this will be a huge improvement to my bottom line and overall game. The only special circumstances I might allow myself to play on my laptop is if I'm in a nice, quiet setting by myself with plenty of time to play with no commitments to leave any time soon AND I'm in a situation where I can't play in my normal set-up because I'm out of town.

I reconfigured my HUD so that I can play 7 tables and still see all of my stats. I played @ 6 tables long enough where I think I can graduate to one more. Viewing all of my tables @ the same time is paramount to my success so I can see all the action and still take notes. It's funny because in January I was worried about making SuperNova and now at the end of March I'm on pace to make it over 150k VIP's - moving up stakes and adding a table makes a big difference. If I just continue @ the same pace of VIP's I made during March and ESPECIALLY if I am able to move up to $400NL at some point this year, I should be able to hit double nova, which by itself is worth $13,399.70 or 40.2% rakeback. Again, though, VIP targets are just secondary concern relative to playing my best and trying to move up the stakes.

VIP Total 40,233.77
SuperNova Pace -> 15,576.24 AHEAD of pace for this YEAR
Double SuperNova Pace -> -9,081.30 BEHIND pace for this YEAR

Even though I didn't log many hands @ Full Tilt, I had a bad month there specifically and some of that was due to playing HU and playing on my laptop and since I've been logging much more time on Stars, I'm sure some of it is still just lack of familiarity or comfort with the site and software plus I'm sure some bad play and bad luck. I like the idea of having money on Tilt and the option to play there and I'm a decent winner there overall, but on the other hand, since I really want to make Double Nova, I'm not sure how much more time I'll be willing to log there. Chalk it up to the VIP system @ Stars I guess, but from my calculations starting @ Platinum and making SuperNova by the end of the year is equivalent to $5,199.70 or 31.2% rakeback and starting from Platinum and making it to Double Nova is worth $13,399.70 or 40.2% rakeback. It shatters 27% and if I'm making more profit, it's a no-brainer. I'll keep monitoring the situation, but it also seems like Tilt games got tougher or table selection more difficult after they introduced Rush poker. It's like I was hitting a groove and stride and right around the time Rush poker was introduced, it stopped. It's hard to say, though.

The jump to $200NL is generally so far so good. On a side note, looking backwards, it really feels like I've "run bad" more-so than any stake that I can remember. I don't know if it's true or selective memory, but it doesn't really matter. I'll just keep trying to play my best and move forward. For the most part I have only played $200NL, however, I recently started peeking @ $400NL tables and the table selection appears to have a big drop @ this stake in terms of just number of tables running. In anticipation of this, I've just recently started playing some @ $100NL again when I don't have a full slate of $200NL tables going. I want to get back in the habit of playing two different stakes concurrently so that if and when I jump up to $400NL, I can still play $200NL and not miss a beat. I've had some experience with this when I moved up to $50NL from $25NL, but when I played $100NL, I stopped playing $50NL completely, so I need to dust off that rust.

I finished doing my taxes. Because of poker, I did owe money, but it's all good because without poker, I wouldn't have made as much money as I did. With the help of my tax accountant, I have taken steps to adjust my tax withholding so that my payment or refund next year is as close to 0 as possible to avoid any penalties or the imposed requirement to do taxes quarterly. Next month in April, I have a trip to St. Louis planned during the WSOP. Hopefully I'll be able to find some juicy cash games and take advantage. If not, I'll fire up the laptop and watch some poker videos ... or make-out with the gf