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From $500 —> $62,000. Fish on a heater?!

FriendlyFish Posts: 73Member
edited November 5 in Beats, Brags, and Variance
The end of July 2017 I had $500 to my name. I went to my local casino to play a $160 tourney. I got there early and played some cash and went on a heater and won 500 bucks. I then played the tournament ran deep and cash for another 600. All of the sudden I have trippled my roll. I start playing poker everyday the following day with hope that I will continue to have money to play poker tommorow.

One month passed and I have all of a sudden a 5k roll. Maybe I can do this full time I thought to myself. But I know I can easily lose it all, so I am still very scared mostly playing 1-3 nl. Taking a shot at 2-5 once in a while. I don’t know how long this will last

I started an account on crush live poker around this point posting hands Trying to get better

1 year later and I now have 62k in profits from this poker journey so far, somehow. After life expenses for the year I have a bankroll of 40k cash remaining for live 1-3. Most of my winnings are from 1-3 cash game (52k) with 10k profit coming from tournaments. I play 160 hours a month on average.

Everyday I wake up and play poker hoping I don’t go on that inevitable downswing. Not knowing how much longer my heater will last, if I have been really lucky this pass year or really beating the games. Only time will tell. I just hope I continue to have money to play poker and this heater never ends

Edit: I wanted to post this on BBV but accidently post here can mods help please

Comments

  • BartBart Posts: 5,364AdministratorLeadPro
    I edited the post and put it over in BBV.

    Congratulations on your success! I hope that CLP had a little to do with helping you on your great last year.

    Would you care to share with us the area that you play in the availability of different limits and the structures of these games (buy-in caps, etc).. Bart
  • FriendlyFish Posts: 73Member
    Bart said:
    I edited the post and put it over in BBV.

    Congratulations on your success! I hope that CLP had a little to do with helping you on your great last year.

    Would you care to share with us the area that you play in the availability of different limits and the structures of these games (buy-in caps, etc).. Bart
    Thanks Bart!

    CLP definately helped me play better poker. Just by reading hh in forums and posting them myself. I remember you replying in my very first hh and me being very happy about it so thanks!

    In the 2 beginning months I played strictly 1-3 with a cap buyin of 300. After I got my roll up to 8k I started playing 1-3 with an initial 500 cap to start and table max after. This is my main game where I win the most. I’ve also been playing 2-5 in the mix of these games with a small profit, making less in terms of hourly compared to 1/3. I also play in the weekly tournaments and some events that come to my casino. Buyins from 150-500.

    Aside from live poker I also play online on ACR nl25-nl100 and tourneys from $5-$200 Buyins. Right now I just use online as a tool to get better because I am not making much compared to live poker where its much softer


  • FuzzypupFuzzypup Posts: 2,239Subscriber
    Be prepared for when the downswing hits and have a large bankroll is my advise.

    To give a comparison. 1 hour online 4 tabling = 8 hours live = ~240 hands.

    I have had 40k hand downswings where my EV was off the charts high but my actual winnings were low or negative. You can do the math. Large bankroll really helps not tilt you when this happens.
  • FriendlyFish Posts: 73Member
    Fuzzypup said:
    Be prepared for when the downswing hits and have a large bankroll is my advise.

    To give a comparison. 1 hour online 4 tabling = 8 hours live = ~240 hands.

    I have had 40k hand downswings where my EV was off the charts high but my actual winnings were low or negative. You can do the math. Large bankroll really helps not tilt you when this happens.
    Yea i totally agree with you about having big roll and I am very aware of how brutal variance can be. That’s why I don’t play 2-5 that much and still stick to 1-3, to lower my chance of busto when the big downswings come. Also to keep my sanity to keep grinding.

    I recently recovered from a 6k downswing which was pretty brutal but I know it can get much worst. I’m pretty fortunate to not have that bad variance to this point or I would have been busto long ago and not have money to play poker. But yea I’m pretty scared that I will go busto because i have no other source of income
  • FuzzypupFuzzypup Posts: 2,239Subscriber
    Keep the poker money separate from your other expenses. If you want to do something positive with the money set a planned bankroll. So say you want to set aside 100 buy ins for 1/3 = $30,000. You want to invest 50% up to the IRA limit of your excess and keep 50% for moving up.

    So now any profit you make above your minimum bankroll you split.
    Put 50% into an IRA which makes the money tax free up to I think $5000.
    Put 50% in a different area for moving up. Determine what that amount is for what you move up. That will be your stop loss.

    So say you want to save another $20,000 before trying 2/5 $500 buy in. That is your cushion. If you by chance lose that $20k step back to 1/3.

    That is the best way to do it. 100bbs is really high for a limit but it makes you fearless. You need to live cheap and if you are young make a retirement plan. Don't do what I did. I made money and it all went to supporting the family. I havent had a bankroll for a decade due to one thing after another and I've made over 6 figures at poker. If I was to do it all again I would do it exactly as I told you above. I had to start over again now and I quit live play because my mental state wasn't right. I started at the bottom @ $10 NL online from zero. Goal = $10,000. I have better skills than most 5/10 players I met yet here I am in the shitter.

    Bankroll has an enormous impact on your play live. I have seen half decent LAGs who don't give a fuck about money run over tables. While if I played them heads up they can't win their lack of fear and intuition that comes with it do well.

    I would set aside 100 BIs BTW. Because 10 buy in downswings are common. If you set aside 50 BIs and lose 10 that 20% of your roll.

    Don't go out and buy fancy shit you can't afford to maintain like new corvettes. You want a nice TV that's one thing. You don't need to replace tires and parts for example.

    Have a plan and build up. Don't end up bankroll broke like me.
  • RecreationalRogerRecreationalRoger Posts: 746Subscriber
    As always, another excellent post by Fuzzy!

    I'll add a few more items:

    1. I agree with fuzzy 100% on the poker roll and retirement roll. I'd another roll - life roll - to hold say 6-12 months living expenses.

    2. Be an absolute life nit, especially if this is your only source of income. It looks like you're probably making ~$25/hour all told, so certainly run your life like you're making at most $50K/year, don't run it like you're making $100K/year.

    3. I find it interesting FF that you're making more/hour in 1-3 live than 2-5 live. In a vacuum, that could mean that the 1-3 game is super juicy vs. the 2-5 game; it could also mean you're not quite at Bart levels yet in your game either :wink: . But its seems like you're cognizant of where your game is, which is a good thing - like you said, grinding out the $1-$3 to stay on an even keel and have smaller downswings + fuzzy's advice on how to build up to $2-$5 should keep you on the straight and narrow.

    4. Speaking of $1-$3, Steve Selbrede has an excellent 2 volume poker book series called Donkey Poker (not to be confused with his first book, "How to Beat the Donks". Donkey Poker vols 1 and 2 are a phenomenal summary of his own game plan for playing live 1-2/1-3, and its a great summary of a LOT of other material out there (Ed Miller especially, and Barts 15-25-35 method gets called out). If you don't have a huge poker library, Donkey Poker is a real easy way to get a huge library with one stop shopping. PLUS he has a whole chapter in the 2nd book devoted to formulas for figuring out are you really a winner, how much bankroll you need, etc., that you might find helpful if you like crazy math and excel spreadsheets.

    5. Continuing to advertise the competition, James "SplitSuit" Sweeny of Red Chip poker, did a podcast a year or 2 ago about everything to consider before going pro. You can create an account for free at Red Chip poker, and you get free access to the podcasts (they have a subscription for like $50/month that I don't have, but you don't need that for the podcasts). I'd hop on there and listen to that one podcast, it is chock full of things for you to make sure you're accounting for since you're playing full time.

    6. Lastly, eat right and exercise. Might as well keep those doctors bills down.

    Overall sounds like you're doing the right things and asking the right questions. Keep up the great work! and keep us posted on how things keep breaking.

    Roger
  • FriendlyFish Posts: 73Member
    Fuzzypup said:
    Keep the poker money separate from your other expenses. If you want to do something positive with the money set a planned bankroll. So say you want to set aside 100 buy ins for 1/3 = $30,000. You want to invest 50% up to the IRA limit of your excess and keep 50% for moving up.

    So now any profit you make above your minimum bankroll you split.
    Put 50% into an IRA which makes the money tax free up to I think $5000.
    Put 50% in a different area for moving up. Determine what that amount is for what you move up. That will be your stop loss.

    So say you want to save another $20,000 before trying 2/5 $500 buy in. That is your cushion. If you by chance lose that $20k step back to 1/3.

    That is the best way to do it. 100bbs is really high for a limit but it makes you fearless. You need to live cheap and if you are young make a retirement plan. Don't do what I did. I made money and it all went to supporting the family. I havent had a bankroll for a decade due to one thing after another and I've made over 6 figures at poker. If I was to do it all again I would do it exactly as I told you above. I had to start over again now and I quit live play because my mental state wasn't right. I started at the bottom @ $10 NL online from zero. Goal = $10,000. I have better skills than most 5/10 players I met yet here I am in the shitter.

    Bankroll has an enormous impact on your play live. I have seen half decent LAGs who don't give a fuck about money run over tables. While if I played them heads up they can't win their lack of fear and intuition that comes with it do well.

    I would set aside 100 BIs BTW. Because 10 buy in downswings are common. If you set aside 50 BIs and lose 10 that 20% of your roll.

    Don't go out and buy fancy shit you can't afford to maintain like new corvettes. You want a nice TV that's one thing. You don't need to replace tires and parts for example.

    Have a plan and build up. Don't end up bankroll broke like me.
    Thanks so much for the helpful advices. So I have about 34k for poker and the rest for life expenses. The 1-3 I play in I usually buyin $500 minimum and usually $1000 if there are stacks I can match. Would this mean I need $50K for this 1-3 game?

    Also when I play 2-5 I like to buyin 1000-2000 and play deep stack cause there’s usually straddles and stacks get shallow quick when someone puts in a $15 straddle. (my casino allows straddles up to half your stack so $25 straddles are not un common in a juicy game) I usually only play if games are super good. The swings in these games are too brutal for my bankroll.
  • FriendlyFish Posts: 73Member
    RecreationalRoger said:
    As always, another excellent post by Fuzzy!

    I'll add a few more items:

    1. I agree with fuzzy 100% on the poker roll and retirement roll. I'd another roll - life roll - to hold say 6-12 months living expenses.

    2. Be an absolute life nit, especially if this is your only source of income. It looks like you're probably making ~$25/hour all told, so certainly run your life like you're making at most $50K/year, don't run it like you're making $100K/year.

    3. I find it interesting FF that you're making more/hour in 1-3 live than 2-5 live. In a vacuum, that could mean that the 1-3 game is super juicy vs. the 2-5 game; it could also mean you're not quite at Bart levels yet in your game either :wink: . But its seems like you're cognizant of where your game is, which is a good thing - like you said, grinding out the $1-$3 to stay on an even keel and have smaller downswings + fuzzy's advice on how to build up to $2-$5 should keep you on the straight and narrow.

    4. Speaking of $1-$3, Steve Selbrede has an excellent 2 volume poker book series called Donkey Poker (not to be confused with his first book, "How to Beat the Donks". Donkey Poker vols 1 and 2 are a phenomenal summary of his own game plan for playing live 1-2/1-3, and its a great summary of a LOT of other material out there (Ed Miller especially, and Barts 15-25-35 method gets called out). If you don't have a huge poker library, Donkey Poker is a real easy way to get a huge library with one stop shopping. PLUS he has a whole chapter in the 2nd book devoted to formulas for figuring out are you really a winner, how much bankroll you need, etc., that you might find helpful if you like crazy math and excel spreadsheets.

    5. Continuing to advertise the competition, James "SplitSuit" Sweeny of Red Chip poker, did a podcast a year or 2 ago about everything to consider before going pro. You can create an account for free at Red Chip poker, and you get free access to the podcasts (they have a subscription for like $50/month that I don't have, but you don't need that for the podcasts). I'd hop on there and listen to that one podcast, it is chock full of things for you to make sure you're accounting for since you're playing full time.

    6. Lastly, eat right and exercise. Might as well keep those doctors bills down.

    Overall sounds like you're doing the right things and asking the right questions. Keep up the great work! and keep us posted on how things keep breaking.

    Roger
    Thanks for the awesome support!

    1. I live with my parents in a cheap apartment. I give them $500 a month for rent and food since I started winning in poker but they don’t expect it. They are just happy that I am supporting myself. So I am pretty safe with my life roll situation for now.

    2. I am pretty nitty. I don’t eat out, or go out on weekends. Most my meals in casino are comped.

    3. My winrate for 1-3 is $36/hr over a 1200 hr sample size. $11/hr at 2-5 over 300 hrs. I ran bad in a couple of $2K pots where I lost as 80% fav so that could have skewed my results. But in general the 1-3 game is very juicy due to super deep stacks and straddles.

    4,5.Thanks for the suggestions ill definately have a look into them!

    6. I am so guilty of this. I currently eat bad and don’t excercise plus I’m a smoker. I know my health is bad but I havent been able to fix it. If I fix this area in my life I will play much better poker for sure. Right now small amount of excercise like walking gets me tired really quick. I tried to start multiple times but ultimately fail to keep going after a few days.

    I’ll be very happy to keep updating. This month I’m up $1475 so far.
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