Wednesday, December 20, 2006

Goals for 2007

I saw a thread on a forum and it got me thinking.

I have had a terrible run of form for a few months (this also includes playing badly sometimes) which has resulted in a serious downswing in the bankroll. This had a knock on effect of playing less cash - which is where (I feel) the REAL money is to be made. Sure, you can make a profit playing tournaments only (as I did for the first 3 years).

As I do not play fulltime, and poker is not my main source of income, my bankroll management skills are not upto par - purely because they dont have to be. This has caused me to go "skint" online twice this year.

So my main objective in 2007 is to start treating my poker like a business rather than a hobby (albeit a profitable one).

Just before I qualified for the WSOP this year I had circa $25k online (which I built up from playing freerolls, then a couple of STT's then a nice tournament win) and was playing $5 $10 and $10 $20 no limit. I was making nice profit playing these levels - elbeit way out of a bankroll of $25k.

Now dont get me wrong, i HAVE withdrawn during the year (from the $25k) to pay for luxuries and buyins for live events, but this again was just a further drain on the bankroll and to be honest, a bad month then left me "chasing" - A MORTAL SIN!!!

So, I intend to play cash online during the week (within my bankroll), and use 1/4 of the profits for tournament poker for the weekend and the following week, transfer 1/4 of the profits to Neteller thus keeping 1/2 of profits to add to the Bankroll. When tournament results occur, I plan to transfer 1/2 of the win to Neteller and add 1/2 to the bankroll. This, hopefully, will result in a nice tidy sum accumulating in Neteller - which I shall use for live events, uk festivals etc... while also allowing my bankroll to continually increase.

Well thats the plan anyway. To encourage me to stick to this, I intend to post my monthly results on here as well as keeping my spreadsheet going.


Blogger richard trigg said...

all the best for next year mate, hope to meet u at one of the festivals next year

12:45 AM  
Blogger M3boy's Poker Blog said...

Cheers Richard, I am sure we will.

1:14 AM  

Post a Comment

<< Home