Thursday, January 27, 2005

The end is nigh!

Well it’s finally happened. I am winding down my company so I will be effectively a "poker pro" from March this year. I had threatened to do it last year before I set up my own company but my bankroll wasn't sufficient for me to be able to play in the big cash games and cope with the inevitable swings. It’s a risk I know but a calculated one. Although I did play alot of poker last year it was always my third priority behind my work and my social life.... now it can be my number one priority. My bankroll is probably half of what I’d like it to be but if I go skint I can just get back to the real world and get a job again.

It will be strange relying on poker as my sole source of income. At the moment it’s just an additional bonus if it goes well. I will have to adjust my poker strategy alot. Having unlimited time to play poker will have its pitfalls but I will be adjusting my poker strategy with so much time on my hands. At the moment I rarely play Heads Up and Single Table Tournaments online because they are slightly boring and when I do have the time to play I would rather enjoy my poker. However, I know I can make easy money playing in these games so will put aside a certain amount of time a day to do this.

I have kept to my New Year Poker resolution by not playing after I have been drinking online and have been really pleased with the way I have focused and played this month. I also realise that despite the fact I really enjoy the festival tournaments that if I am going to achieve the results that I hope for that I am going to have to rely on my cash game results both online and live and any festival results are a bonus. It’s pointless me earning $5000 in a month and then using it to have a shot at a $5000 buy in tournament with 200+ runners. I will pick and choose live tournaments carefully and try and qualify for the bigger events through satellites.

I have given plenty of thought to my aim in monetary terms for 2005. I have decided that my target for the year is to make $80000/£40000. This equates to roughly $6700/£3350 a month. It will work out slightly higher than that I am having a month’s holiday in Mexico in June after I win the WSOP ;-)

I am going to start writing a summary at the end of each month on my blog to help me focus plus how much I have made or lost online, in cash games live and at festivals. I am keeping meticulous records of every game I play at the moment.

Wish me luck!

13 comments:

OnTilt said...

Best of luck, I've been enjoying your blog. You seem really focused so I'm sure it will go well.

Anonymous said...

He who dares!!
Best of luck to you!

Luckyblind said...

Good luck Ben, when we chop the EPT in France it should make a difference to your bankroll !

OnTilt said...

1 thing I have often wondered about, and you may be able to experiment with this if you are fulltime(if you havent already) is whether you'd better results playing most of your hours in a non UK timezone. ie playing when there are more US players and therefore a larger player base online, which should make game selection better. Do your records tell you anything about this?

Milkybarkid said...

Yes well its defintely something i will look at. At the moment i guess due to work restrictions i probably play with mainly UK players online unless i am on Pokerstars. I certainly think i will look at playing more when the Americans are online as there is potentially a far greater amount of poor players. It will be weird being able to play whenever i want day or night. Of course my game selection will be crucial in determining how successful i am. I can also take a shot at the big multi table tournaments online which i currently don't have the time to play.

Thanks for all the good luck messages. Chopping the EPT in France will definitely help me achieve my aim of earning $80000 for the year ;-)

In fact i wouldn't have to play again if i managed that.

Milkybarkid said...

Oh On Tilt. I have added a link to your blog on the side of the page as you are a regular reader.

Anonymous said...

You've been threatening this since I first met you 8 years ago. I'll believe it when I see it ;)
Good luck mate.

Chris.

Milkybarkid said...

Hi Chris

Well this time it is going to officially happen unless i get some ridiculous financial offer to stay in work.

Keep me updated on your poker progress.

Big Dave D said...

Milky,

I dont think it will be a surprise to you if I were to say DONT DO IT! I've written long and often about being a pro - I wouldnt wish it on anyone. Whilst it is a great job in good times, in average times it is merely dull and in bad times almost soul destroying. Especially for someone with a tilt problem :-) My advice, if you can, is to keep up a little work, even for just a day and a half a week. This may then pay some of your exes, but more importantly, give you a much needed break from a continual diet of poker. If you have your on business, that makes it even easier. Very very few successful pros dont have money "working" for them in the str8 world. Please give it a thought.

gl

dd

Milkybarkid said...

Hi Dave...

I have read your reservations about being a pro and alot of other people's opinions on the matter.

I do get your points and i have my reservations about it as well. I am going to just give it a shot for a few months before i go to Mexico to see how it goes. I'm not closing any doors on my business and know that i could get a job within a week if i need one. I just feel that for a while at least i want to give it my full focus to see how i do. With my current job which takes up 50 hours of my week and other social commitments its hard to find the time to play as much as i would like. Even when i do play i have to leave to get up for work the next day. I have loads of other interests away from poker.... i love sport and will have alot more time to do things that i have put on the backburner.

I can't imagine that i will play 10 hours a day every day because i would soon get bored. It will be more like 3 or 4 days a week and the rest if the time doing other interests. I'll never become one of those faces at The Vic that is there every single day.

Valley G said...

Good luck mate, hope it goes well, you have to be available between 9 and 5 to keep me sane in work, without our e-mail conversations I'd be tearing my hair out with boredom.

Big Dave D said...

Milky,

I do wish you well. Its just the old phrase about the road to hell being paved with good intentions. The problem with playing for a living is that it very much is a hour and hands played thing. You need to put in the time. You start of saying that you will do other things, but very soon, because its easy, you end up doing more and more poker. This is normally becuase (a) you are playing a rush (b) you are stuck. And this becomes habit forming. Having some structured time away where you *must* do something other than poker is a very valuable notion. One pro I know is involved in further education. It doesnt have to make you money, just get you out of drone mode. Trust me, those guys you revile at the Vic didnt start of thinking hmmmm 50+ hours a week of grind, thats for me.

gl

dd

bazza12 said...

Good luck Ben.