Gotta love the folks at PokerStars for putting this one on! Who knows, maybe I'll be inspired to post more than once every, er, ... Wow, it's been a long time!
Comment posted by Rod at 11:41 PM

 
Advertising?

In two days, Rod and I have recieved two e-mails offering us free money for click-throughs on links. We're considering the Empire poker offer, since we link them anyway - it's my favourite Party skin, and the tournaments are particularly good. (No bad beat jackpots, alas.) But I find myself asking a few questions:

a) Who's even reading this? We post almost never.

b) Presuming we were much better poker bloggers, and read widely, does it turn what we're doing here into commerce? On political blogs, I tend to surf away from pages that have a lot of advertising, and I've resisted the urge to put up so much as Google ads on my own site. I blog to have a reason to write, and a place to vent. I don't want to let the moneychangers into my mental temple. That calculation is easy on a political blog. It's tougher on a poker blog, where we're already talking about commerce.

c) Does anyone else do this? Has it been worth anything at all?

Responses are always encouraged.
Comment posted by Don at 9:15 AM

 
A picture is worth a thousand words. A picture of words is worth... I dunno, I'm not so good with numbers.


Comment posted by Don at 1:33 PM

 
Happy Holidays!

Hello there, faithful readers (all two of you, at last count - thanks for doubling me up, Mom!). I wanted to send everyone best wishes for this special time of year; enjoy it in the company of your loved ones if you can! Once again, life has gotten in the way of blogging as regularly as I'd like to, and has even intruded on playing poker very often at all. This hasn't lessened the passion that I feel for the game, and in a way I think it's helped, in that when I do get to play, I tend to be more focused and disciplined than I was in the past. I wanted to give thanks to all of the bloggers who wrote about their recent gathering in Las Vegas - the accounts were entertaining and really made the reader feel, well, insane jealousy at not being there... :0) If circumstances allow sometime, I'd love to 'cross the border' and join the blogging bunch in Sin City. Time will tell!

I've recently started taking university courses toward a bachelor of science degree, majoring in information systems. I'm taking the classes by correspondence, which these days means online courses and e-mail communication instead of the traditional textbook-based study and mailing letters to your tutor. At the same time, I'm still hoping to keep up with a full-time work schedule - time will tell if this is a realistic goal, and I'll be up to a full courseload by February 2005. So, between full-time work and impending full-time school, poker will, of necessity, be relegated to a very minor part of my time. Blogging about poker will be a casualty of this process as well, I'm sure - I hope to write the occasional update, but it very much may be something along the lines of a note every other week.

Back to actual poker play for a moment. Things have been going well - very well, actually, considering how seldom I've been able to play. I had a couple of weeks at the end of November and beginning of December which saw my bankroll take a bit of a hit when my draws just didn't get there and other people's did, but since I've been playing at pretty low limits, it was a minor setback, and the trend since then has been steady growth. Because of my lack of much time for poker play, most of the play I've done in the last four months has been associated with bonuses of some kind, both the traditional deposit bonus (new player sign-up bonuses and redeposit bonuses) and merchandise offers through Poker Source Online (PSO). By signing up on new poker sites through PSO, I've received a box-set of DVD's of the first season of the World Poker Tour, a couple of decks of KEM plastic playing cards and a folding poker tabletop with chip racks and drink holders built in. If you've got the inclination to try some new sites, this is a good way of getting some merchandise in addition to any regular signup bonuses they may have. It does have the drawback of tending to spread your bankroll thinly, though - at one point I had active real-money accounts with funds in them at seven distinct sites; I've managed to cut that back to about three sites with playing funds in them at any given time, which is much more manageable, especially for those of us with a relatively small bankroll.

For redeposit bonuses, I haven't found a better deal than Absolute Poker, who have had a 10% redeposit bonus (15% if you deposit with NETeller) once a week for at least the last two months. The bonus is released in $10 increments, essentially when you reach 100 raked hands. Not all is roses there, of course - they don't have as large an aquarium as Party Poker, for example, and there's not always much choice in tables, but the games are beatable, especially at $1/$2 and below, and if you have a few tables going you can clear roughly $10 per hour in bonus alone - not a bad deal. I've been managing to clear the bonus on the maximum deposit ($500) about every two weeks for the last few bonus periods - a nice way to pad your bankroll, particularly for those of us who aren't (yet?) playing $10/$20 and above. With the Christmas holidays upon us, most of the online poker sites are offering pretty good redeposit bonuses - anywhere from 20% on Party Poker and 25% at Poker Stars right up to 50% (in bonus dollars) at Ultimate Bet. While Ultimate Bet has some generous redeposit bonuses, they are somewhat limited by the maximum ($100 bonus) and the length of time it takes to work through the bonus, at least at the lower-limits that I play. Regardless, there are lots of poker sites out there competing for our business - it's a very good time to be playing online poker. I don't know if online poker will always be so lucrative; I never cease to be amazed that something I love doing can be a windfall financially.

I'm contemplating cashing out a chunk of my online bankroll in the new year to reward myself for a solid few months of play - I'm not sure how much I'll be taking out yet (we'll see if the next couple of weeks are as good as I think they may be with pending bonuses to be released), but it'll be enough to pay for my next course, with a little left over for some recreational spending. Regardless of how much I take out, I'm going to leave an online bankroll of at least 500 big bets; this is my comfort zone - anything less, and I am playing scared. I take the attitude that if I'm destined to continue playing at higher limits, my bankroll will be the best indicator of this. If I can't increase my bankroll playing where I am now, how can I ever hope to beat the next game up the ladder? I've managed to make a couple of jumps in limits in the last several months, and am eager to see how far the trend can continue.

I've developed a long-range plan for the new year, based on a three-month cycle, which will afford the opportunity for bankroll growth, combined with periodic cash outs. In the first month, I'll play and at the end of the month any gains become the new floor for my bankroll. In the second month, I take out anything above the new floor and use it for education costs. In the third month, I cash out anything above the floor again, this time using the money for savings and / or investments and / or financing a live-play bankroll. The cycle then repeats for another three-month period. The flaw in this plan, obviously, is what to do in case of a losing month? The answer is equally simple - don't increase the bankroll floor or take any money out, and start again in the bankroll growth part of the cycle. I know it's inevitable that I'll eventually have a losing month, but when I do, it won't mean the ruin of everything I've worked for, provided I play at sensible limits for my bankroll (at least 500 big bets as a floor).

Well, that's about all that's worth sharing at this point - may the New Year be enjoyable and prosperous for you and yours, and may your poker aquarium always be full of <><. Take care.

Comment posted by Rod at 3:03 AM

 
He's back...

In my last post, I'd written about adversity, and the various methods of dealing with unfavourable situations. I had been in a very negative stretch of cards, but even worse than that, I had slid into a negative frame of mind, where I doubted all of my choices, and erred at every single decision I was called upon to make.

In the past thirty hours, I have managed to play at the $0.25/$0.50 level (plus a 30 BB session of $0.50/$1.00 that I just completed) for a total profit of $134, of which $29 were the remnants of my pending bonus at Absolute. So, let's call it $100 for six hours of play at Quarter - Dollar limits. I couldn't be more thrilled, since my strategy in moving down a level has worked out beyond all expectations. I was unconcerned with whether I was in a pot, or for how much - the only considerations I have had in the last couple of days were: a) Do I have the best hand? If the answer is yes, bet or raise, as required. b) Do I have the best draw? If yes, then either call or bet / raise depending upon the opponent(s). c) Am I likely beat / drawing thin? Fold, without regret.

I'm happy to report that the play on Absolute at the lower limits has been 'absolutely' horrid - there are players betting / calling with bottom pair and no overcard, without regard to any raises from their opposition. I got called a 'lucky ass' for betting with a pocket pair that hit a draw to the outside straight on the river. He claimed to have AA, and while I respect his greatness at having those cards, I figure that he should have protected his holding by raising preflop, postflop, and after the turn to get me out of that pot. Basic, exploitable errors on my opponents' part have been the order of the last day and a half, and my bankroll has been the grateful beneficiary; I've now reached, and surpassed, the level I was at before the downturn that I'd lamented in my previous post.

The next plan of action? I've got a pending transfer out of Absolute Poker that will be going toward Poker Stars - they have a 20% deposit bonus until Tuesday, and while I refuse to blindly chase bonuses, I will reload on a site where I know I stand a fair chance of working off the bonus without depleting my investment (e.g. Absolute, Poker Stars, Party Poker). I must remember, however, that I am playing with real money to earn that bonus, and that I can't just blindly put my stake on the line to earn 15/20% while I blithely squander 25/30% in the process.

Am I ready to go back to $1.00/$2.00? Yes. Am I going to ignore the potential of a hugely profitable $0.50/$1.00 or $0.25/$0.50 game any time soon? Not until I get tired of making money playing poker...


Comment posted by Rod at 2:51 AM

 
News

I'm a candidate in Alberta's provincial election. Part of my campaign has included posting an online biography, within which I mentioned that I'm playing poker as a primary source of income.

This roused the interest of the Medicine Hat news (Canadians will know it as the Kalan Porter Times), who is doing an article on the poker boom. Once the article is published, presuming it's online,. I'll link it.

In the meantime, I've fixed a few links here, added a couple there. Glad Rod's been posting like he means it. I might eventually, as well.
Comment posted by Don at 9:49 AM

 
Adversity

For the last week or so, I've been in the midst of my first extended run of really cold cards. I'm sure it's happened to you - session after session where your draws don't get there, and your good hands get outdrawn. I've heard it said that a player isn't defined by how he handles himself when things are going his way, but rather by how he conducts himself in times of adversity. With this as my mantra, I'll try to ride out the rough patch. It hasn't been that devastating a run dollar-wise, mainly because I've been working off a deposit bonus; what could have been a 150 BB drop over the last week has instead been limited to about 75 BB - still a cause for concern, but not as bad as it could have been.

I'm starting to think that I should change my focus with poker as well - for the past few weeks, I've been playing at Absolute Poker, and taking advantage of their 15% NETeller redeposit bonus, which has been offered every weekend thus far. In theory it's great - make a deposit on the weekend, play enough to release your bonus by Wednesday or so, and take out what you plan to redeposit on the upcoming weekend. The problem, however, is that I've been playing when I know that I shouldn't. Absolute isn't a high-subsciption site, and where there are fewer players, there are fewer good games. During weekdays, I've really noticed a downturn in my average return, to the point where I'm now coming out in the negative at $1/$2 and $2/$4 games. When I sit down to play, I think I'm falling into the trap of playing just to play a certain number of hands, instead of sitting down to play the best poker I can. I'm sure that this isn't the sole reason for my recent difficulties, but it must be a factor.

So, where to go from here? I think for the present, I'll move back down to the $0.50/$1.00 games, and see if my results are better at that level. At least I will do less damage to my bankroll while I'm running cold (or against better players at the higher limits, if that's the root of the problem). Perhaps I should play for a while at a couple of different sites, and try to get past the mindset of playing for an expected hourly return (bonus) instead of playing my best poker. In the course of chasing bonuses, I've withdrawn my money from Party Poker - a mortal sin, in the gospel according to iggy, so perhaps I should mend my errant ways and focus my attention there for a while.

Whatever happens, I know exactly what I should NOT do - here's a little story: Last night, I found myself looking longingly at what looked like a really juicy $3/$6 game - fortunately, I only looked, and didn't take a seat. No matter how good the game was, that would have been the worst thing I could have done. There are three possible outcomes of sitting down at a game beyond your bankroll and experience: 1) You sit down and lose, going through at least double your usual table buy-in during the process. This may goad you into continuing in order to 'get even' - a very dangerous course of action that can potentially cripple your bankroll. 2) You sit down and break even. You haven't really accomplished anything except to desensitize yourself somewhat to a level beyond what you can afford to play at; nice going... 3) The worst thing that could possibly happen, at least in the long run, is the outcome that seems most attractive - you hit the game for a big win. This is fine in isolation, but the next time you go to play the first table you'll check out is the higher-limit table. It's still way beyond your bankroll and experience, but hey, you beat it last time, right? You've got a perfect record at that level; you've NEVER been beaten at $3/$6. Maybe not, but you are setting yourself up for a huge fall with that kind of attitude; one that is likely to end in ruin for your online stake.

So, I started off talking about what horrible cards I'd been getting. Maybe so, but everything else I've written tells me I haven't been making the best use out of the cards I have been dealt. That, I can do something about. Thanks for listening.
Comment posted by Rod at 1:34 AM

 
Poker Goals

Several months ago, I started thinking about what my goals were, so far as online poker was concerned. Over time, I'd cashed out a few hundred dollars, and had an online bankroll of around $200. I played mainly limit $0.25-$0.50 hold'em, with a sprinkling of Omaha Hi-Low thrown in for kicks. I decided that I should make bankroll growth a priority, instead of withdrawing a hundred dollars whenever it got to an arbitrary level. I sat down and crunched some numbers, and came up with a rough plan of how much play it would take to get to a total bankroll of $1000. My basic plan was as follows:

1. Play $0.25-$0.50 limit hold'em until I get to a bankroll of $250.
2. Move up to $0.50-$1.00 hold'em, and play that until I get to a bankroll of $500.
3. Play $1.00-$2.00 until I get up to $1000.

I set up a few different potential timelines for doing this; the pessimistic one was a six-month timeframe, the optimistic two months, and the 'realistic' somewhere in the middle. Then I started playing; I don't have a ritual for this, but play when I can - it usually works out to between five and ten hours per week. Things started slowly, and I found that by the time I got to $250, I was no longer so sure about moving up to the $0.50-$1.00 level right away, so I stayed at the two-bit/four-bit games for a while longer. When I was up to about $350, I decided to diversify into a couple of different sites to take advantage of new player deposit bonuses, and merchandise bonuses offered through another website, which will remain nameless for the moment (details in another post to come: e-mail me if you can't wait... :0). Some of these experiences were good, others were not quite as happy, but in a sneaky sort of way I ended up passing the $500 mark about a month thereafter, making the move up to $0.50-$1.00 during the process. This was enough of a bankroll, according to my original plan, to move up to $1.00-$2.00, but again I stayed at the lower level. I had several reasons for doing this - I wanted more experience before moving up a level, and wished to get a larger sample size of hands to analyze with Poker Tracker, so I could track my average return with a higher degree of confidence. Mostly, however, I believe my reluctance to move up to higher levels immediately was borne of fear. Not the kind of fear you see packaged for consumption by movie-going teens, or the kind of dread you may feel when contemplating your own mortality, but rather a timid, apprehensive fear. I didn't want to risk more of my bankroll than I had to, and my initial plan of having 250 big bets when I increased a level seemed inadequate. I wrestled with this for a week or so, and then decided to just stay the course and keep playing as I had been, and make the move up whenever I felt ready for it. Instead of being so rigid in my plan, I just did what felt right at the time.

After this decision, my play immediately improved. Free of counting every single hand as though my entire poker future depended on it, I relaxed and focused on playing better poker, and it worked! In the space of seven weeks, I doubled up from $500 to over $1000, the majority of that from play at $0.50-$1.00 tables, but with some help from deposit bonuses and the odd $1.00-$2.00 game that was really juicy. I had spread my bankroll across four different active sites, and didn't even notice when it crossed the $1000 mark; it was a very pleasant surprise, and I was a bit surprised when it didn't feel like the end of a journey.

It felt like the beginning.
Comment posted by Rod at 1:23 PM