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Keep me honest, plz!

Enough of tilting and wishful thinking
By: vano02
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#8 Little by little makes a lot

By: vano02 @ 15:55 (EST) / 285 / Comment ( 4 )

I need to make a confession: I went busto. Again. After having had a really hot run in the autumn of 2016 I kind of got a little over-excited and blew my bankroll management, only slighty so much but enough for it to become the start of my downfall, nicely aided by a rather long run of bad cards, suckouts and coolers. And as the experienced players among you will know: you can survive a bad streak. But only if you are clever and disciplined enough to stick to a very conservative bankroll management. 

Well, I didn't. And I got the bill. It cost me nearly $1.000 of hard-earned profit. Fortunately, I had regularily cashed out my monthly allowance of $200 (my safety deposit in case something like this happend, I know myself well). So technically speaking, even though I had to redeposit $100 in January to get back into the game I'm still a few hundred bucks in the plus. However, it doesn't feel that way. So I've decided to keep the numbers of my blog post title rolling but I'll be resetting my bankroll graph and counter to my starting point this year. 

However, as a somber reminder to myself and whoever else happens to be affected by the who-needs-bankroll-management-anyway bug, I post this sad graph - which as you can see has taken a very positive turn since I came to my senses three weeks ago (thanks to a few Sunday Million tickets and a deep run in a bounty builder I satellited into). Nonetheless, I want to never see this red dip into the redeposit zone ever again. 

From now on I will be absolutely religious about my bankroll management. My roll currently stands at $739, up $639 from my $100 deposit three weeks ago. I will only be playing the following formats:

- $2.20 rebuy satellites into the Sunday Million ($215) as my favorite and most profitable format (I cash out the ticket for tournament money, except for the last run on Sundays: if I do make it into the running Major tournament I'll give it my best shot - never give up on the dream of a big score!). 

- On weekends, when the Major tournament frenzy starts and lots of newbie players move in, I will also play the $11 and $4.40 Sunday Million satellites (excluding re-entries over $4.40) as the number of entries and rebuys tends to be higher than during weekdays and the seats are more numerous. Even though the price-to-seat ratio doesn't change, there are more players in the game to make standard satellite mistakes that can be benefitted from. 

- $2.20 Sunday Storm ($11) satellites to fund my Sunday Million satellite entries. I find these really boring, but loosing streaks in between Sunday Million tickets can be really long due to the relatively small number of seats, so it's smart to rebuild the roll in a slow but safe way. And what safer way is there than a 1 to 5.5 seat ratio?

- Satellites priced between $1 and $11 (excluding re-entries over $4.40) into the $16.50, $33, $55, $109 and $215 bounty builders with the intention to play the target tournaments. I love bounty builders. As I rarely go very deep in MTTs (I'm a nit and can't seem to shift gears enough in the late stages of the game, I'm working on it), bounty builders are a great way to freeroll the MTT lesson. Once you win a seat for a fraction of the price you only have to bust one single opponent to be profitable. And that's totally doable. Even or especially for a nit.

- Similarily structured satellite and bounty builder TCOOP tourneys.

- $3.30 Zoom MTT to improve my MTT skills. I'm not profitable in these - but I want to be at some point, so I need some affordable practice and a tourney that doesn't take 10 hours to complete.

Drop-down line: I will drop the maximum buy-in limit to $4.40 (excluding rebuys over $2.20)  if I manage to dwindle my bankroll back down to below $500 (heaven forbid). 

My mid and long-term goals? Well, I do harbour a secret dream about what I want to achieve. But the experience of autumn has made me humble, so I'll protect that little seedling of hope until it's grown a bit stronger and can stand some scrutiny.

Until then, good luck at the tables to you - and do keep me honest, plz!




Challenge summary:

Starting bankroll on 7th January 2017 (new deposit, challenge reset): $100

Current bankroll: $739

Total profit since challenge reset: $639

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