Friday, September 28, 2012

Am I playing too low and too high at the same time?

I am now in my second readthrough of Scerets of Professional Tournament Poker, volume 2.  I usually read a poker book two or three times before I break it down and start studying and applying the text to different poker situations.  Yesterday, something jumped out at me that I hadn't noticed before.

On page 160, Kindle location 2305, Little says the following:

"The level of tournaments that you win is a decent indication of your skill level.  If you have been playing $500 tournaments for years and only have one win, you are probably playing too high.  Similarly, if you play $10 tournaments and win one every week, you are probably playing too low."

In September so far, I've won twice and made the final table two other times:

9/3, $5.50 buy-in, 2nd of 131, cash of $91.70.
9/4, $5.50 buy-in, 7th of 110, cash of $22.00.
09/15, $5.50 buy-in,1st of 120, cash of $138.00
9/27, $5.50 buy-in, 1st of 46, cash of $66.70.

A month is obviously a very small sample size, but even so, I'm clearly a lot closer to that one-win-a-week player that needs to move up than I am to that one-win-a-year player that needs to move down.

Unfortunately, bankroll management rules (which the author also stresses, and correctly so) say otherwise.  Little says that you should have 100 buy-ins to play at your level, unless it's your only income, in which case you need 200 buy-ins.  I have done a lot of reading about bankroll management, and those numbers are pretty close to the standard advise on the twoplustwo.com poker forums.

Since tournament choices are limited, I'm playing everything between $1 SNGs and $15 MTTs, but the majority of the MTTs that I play go off at $5.50.  100 buy-ins at that level =  $550, and 200 buy-ins comes to $1,100.  My current bankroll is around $200.

I'm devoting more time to study, and I'm gradually getting more and more comfortable with the playing style that Little advocates, and with adapting it both to my skill set and to tournament situations at my level.  I have no doubt that I can go deep at my current level on a regular basis.

As I build my bankroll, I'll have some tough decisions to make.  I've said that when my bankroll reaches $500 I'll take another look at the situation, and that I won't even think about moving up. or about taking money out, until I reach that goal.  But even then, I'll barely be bankrolled for what I'm doing now, and moving up would be a very dangerous thing to do.

For now, all I can do is keep winning.  Figuring out what to do with $500 will be a nice problem to have.


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