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January 23, 2006

Cash Out Before I Bust Out

I have taken the drastic preventative action of cashing out my entire on-line balance before i go and lose it all. I have been having a horrible run on the internet in the last two weeks - just sick!, but its all the more dissappointing as its on the back of 5-6 weeks of steady bank roll building, good cards, good play and disciplined solid poker. I was managing to pull in a nice amount each week and even started paying myself a weekly wage (10% of my on-line bankroll), everything was looking rosey, but thats all gone pear-shaped. Maybe i was beginning to think the game was easy and that all i had to do was boot up lappie and the money would attract to me like a magnetic force but i suppose just as you get compalcent and cocky thats when the game gives you a good solid bite to the arse and in short.....I just can't win right now - i seem to bubble in every sit n' go i play, if i make a final in a multi, i don't get beyond 8th and every time i flop a strong hand in a cash game it either gets busted or someone is sat there with the stone cold coconuts waiting for me to pay them off with second best - its been a horror show!

I can feel myself getting annoyed, the red figures are increasing and all i can see is the big minus sign alongside the monthly profit figure. I have therefore decided to cash my remaining on-line bank roll out and just give it a rest for a while - I keep telling myself its a life-long game with peaks and troughs, win some, lose some and i know i am easily good enough to win in the long run and i have proved that to over the past 3 years but perhaps i need a break to renew the passion for the game and break the monotony of daily losses and endless bubbles, we'll see.......


January 09, 2006

Happy New Year…. But What To Expect?

A big Happy 2006 to everyone. I have had a nice week off over the new year period to recharge the batteries, see the family and friends, get things done around the house and go shopping for a few bits (since when did a toilet roll holder become worth £20?!)

I have played very little poker for nearly two weeks now but am officially back to ‘work’ as of yesterday and looking forward to a profitable and enjoyable year. I am unsure of what to expect and have thought about some targets but am finding it difficult to set myself a marker for earnings and achievements.

2005 was a fantastic year for me. I had some excellent early-year live results, which meant I could finally give up the management jargon and the long sessions of bull-shit bingo in the office and get down to doing what I enjoy the most… playing poker. I quit my dull job in March and set off on a mini poker tour taking in venues such as Vienna, Dublin, Venice (Jesolo), Las Vegas (WSOP) and played lots of the European circuit events in the UK at Sheffield, Blackpool, Walsall, Luton and The Vic (London) and have had an absolute ball along the way, meeting some great guys and gals and managing to earn a few quid too. As much as I would like to carry this on through 2006, I am simply not going to be able to as I have used a lot of the money I won in 2005 for non-poker related things. I have paid off all my student debts, which were actually a fair amount less than what most students now leave university with (average student debt as of 2005 is a saddening £13,000!). I have bought a car outright rather than getting one ‘on tick’ and in September I moved in with my girlfriend and bought a house – and they don’t come cheap! So, lumbered with a mortgage and the unavoidable outgoings that owning a house brings, I just don’t have the bank roll to take on another euro-tour like I did in 2005. This obviously hinders my live earnings potential as the prize pools I will be competing for will be much lower in 2006, however the fields I will be playing against will be smaller and hopefully not as tough. I will also save a few thousand quid on expenses over the year. Sigh….. If only there was a lucrative sponsorship deal on the horizon! :-(

With all this in mind, I do have some targets I can share, although the figures may have to be revised depending on my situation and financial means throughout the year. I always like to make any targets I set achievable and realistic that way you can feel good about yourself when you meet them and you are striving for something that isn’t beyond you in any way. They are all designed with one main principal aim of avoiding work and staying in the game for as long as possible.

1. Practice good bank roll management

2. Continue to commit to paying yourself a weekly wage based on % of bank roll

3. Avoid small (<£50 crap shoot re-buy comps) – look for well structured freeze-outs or double-chance competitions

4. Continue to work on and improve your on-line game

5. In any competition or internet session, remain focused and disciplined and always try to play your best game at all times.

6. Attempt to satellite your way in to the big competitions on-line (e.g. WSOP, WPT, EPT and even the Grosvenor main events)

7. Win a European ranking event (outright, no deals)

8. Profit of over £??,000 for 2006 (I do have a financial target but would prefer not to publish this)

So, there you have it, my targets for 2006 based on my current bank roll and personal situation, all I got to do now is go and play some good poker and win some money.

Good luck for 2006 everyone! – Lets hope it’s an Annus Amazingus.