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RunItUp - $15 to $1000 in a year

Focusing around microstakes MTTs, I will be discussing what I find!
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Hey!

This week has been very busy! I think it's easily been my busiest week on Pokerstars so far. I have made large steps in improving my game, and have had some success on other sites too

Bankroll : $341 (Up $3 from last week)

Week rating: A-

 

Weekly Goal Review:
HUD
Good news! Yesterday I used my new HUD. I went for the PT4 small stakes hold'em version which set me back $60. I am already hugely satisfied with my investment - a HUD is awesome! If you don't have one, get one now. I have not yet encounterd any table freezing errors yet (fingers crossed)!
"Focused" Session
Today I had a focused session. I averaged about 3 tables and made notes and used HUD notes to improve my play! It almost paid off as I had a few deep runs! 
Educate
After a reccomendation from a friend, I have started watching JCarver's run it up series. So far I have learnt quite a bit, and have already tried to incorporate some aspects into my game. I reccomend JCarver for anyone who wishes to improve their game! I have been using and helping others on PSO's forums which is great to interact with others. I feel like poker is a game which you have to discuss as there isn't a specific formula for success that you can just learn!
Hand Reviews
From next week, I will include this in the "Educate" section as I feel I don't need a seperate section for this. I have had quite a lot of hands reviewed, and have some boom tabs lined up on my browser rearing to get reviewed. I think these these reviews are very helpful as I get different views on my play. At this point I'd like to thank Dave "TheLangolier" for being willing to do a tournament review for me! Thanks Dave!

On my Skill League adventures, I am currently ranked 127 in qualifiers. As you probably know I need to be in the top 200 to qualify for the premier league. I think i'll make it by just not playing which i've been doing. However, next month I plan to play the qualifiers purely because the field is so soft! Right now I just want to be safe and guarentee that I get into the premier league.

Some of you may be wondering why I rated this week so highly, yet I only won $3?!? Well. I have had some good offsite performances. However, I am mostly relating this to my runitup challenge so the reason i've rated this week highly is due to the amount i've accomplished in improving my game. I feel i've been pretty unlucky this week in terms of having runs where I finish for example in 100th in a 2k field. 

I realise this post is getting quite lengthy, but I feel the next part will benefit readers. This week i've spent a bit of time considering bankroll (br) management and what you need to consider. I have been focusing on br for MTTs and have decided that when considering if my bankroll is sufficient, I must think about the following:

- MY ROI: Higher my ROI, fewer buy ins i'll need.

- TYPE OF TOURNAMENT: Generally the speed. Faster the blinds increase etc, the more buy ins i'll need. So for example, i'll need more buy ins for a turbo compared to a regular tournament.

- FIELD SIZE: The larger the field, the less likely I am to place in those highly paid spots, so the more variance I incurr and the more buy ins I need.

- BUY IN: Fairly obvious one, the higher the buy in, the lower the amount of buy ins I have! I need to ensure I have enough buy ins to ensure that I can take the variance.

- PAYOUT SCHEDULE: The greater the % of places paid, the fewer buy ins you'll need.

So that's great, but what's your actual bankroll? Your bankroll is just the sum of money in your account right? Wrong. For some, this may be the case, but for many, it's not. Try this little exercise out. On a scale of 1-10, one being you don't care whatsoever if you go bust and can reload freely, and 1 being if you lose your balance you will be ruined. The higher you scored yourself, the more risks you can take. It's important you consider what your actual bankroll is.

So okay that's all good but you want a magical figure right? Well I have tried to make a formula with all those variables but haven't produced one yet. So once you've decided what your bankroll is, i'll use a $1000 figure as an example, you can now set yourself a buy in rule. This should vary from player to player as everyone's situation is different, but I think that a figure of not playing tournaments where your average buy in greater than a 150th of your br is a good starting point. 

Quick note: Be careful of rebuy tournaments as you may use more than your initial investment.

So for our example, if you registered to a $30, $10 and $5 tournament, that would average at $15 and would be more than 150th of $1000. 

Please don't take this as a rule you can never break, it's just from my personal experience and I hope it helps other begginers beat variance!

See you next week, and I hope I didn't waffle on too much!

Under.

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