From Mike:
I have recently talked my parents into bankrolling me $500 a month here soon, and they are looking at it like a business investment to help me try and start a bankroll. I have been playing poker for 2 1/2 years. I am always trying to learn and improve my game, and am trying to follow the advice of using 5-10% of my bankroll. So to start, in a given month I will be playing 4 $55 MTT’s on PS and 10 $22 SNG’s. I will be setting aside certain %’s of my winnings towards attending the WSOP in 2009, college funds, and general pullout for other investments (stocks,bonds,investments) My parents don’t know the game but have discipline and will be helping me track the business aspect of it. I just opened my account on PS at the beginning of October. I have had pretty good success thus far. Any advice would be greatly appreciated so that I can attain my athletic, educational, and business goals.
From Rafe:Sounds like you got it together, I’m impressed by your accomplishments already and your plan for success. I especially like how you are not putting aside college and athletics for poker, but rather are integrating poker into your life.
As for poker advice, not sure what to suggest until I find out where you would like to improve, what your goals are, etc. You should pick up Phil Gordon’s DVD and Little Green/Blue Book(s) as well as Harrington’s entire set if you haven’t already. Sklansky & Malmuth are also great. You should also probably get a subscription to Cardrunners.com. Don’t just play on Stars, you’ll want a Full Tilt Poker account too so you can double the number of major tourneys you can play, plus you’ll find some games at FTP that you may not find elsewhere. Finally, I would suggest reserving a portion of your bankroll for live tournament play. If you are going to play any WSOP events you will definitely want the live experience, plus live games are softer these days than online! And don’t pass up a good home game with your friends, poker is supposed to be fun and home games will always keep it in perspective as such.
ps, what’s sports do you do?
From Mike:Thank you for taking the time to respond. Swimming is my sport, and I have been involved in it since the age of 11. I like poker because it allows me to take the skills and dedication I have learned through swimming (6 days a week, two practices a day, plus weights) and apply it to my game.
As far as what I am looking to improve? I know where my game needs help. I am usually very patient through the first break online, so the limits would be around 50/100 or 60/120. Only playing my premium hands, then opening up my selection as the blinds increase. Where I have the most difficulty is when I am getting close to being in the money or am in the money. I seem to fall apart and bust from the tourney. I can’t count the number of times I have gone into the final 10 tables of a tourney with a huge stack and watch it fall through my hands. I guess I need some advice on what I should be doing on the later stages of the tourney when people start throwing their stacks around.
From Rafe:Keep in mind that a “big stack” with 10 tables to go will bust out before the final table *most* of the time, so don’t get overly frustrated by this basic statistical reality. One thing I like to do is calculate what an average stack is at the final table (= total chips in play / 10) and use that to keep things in perspective.
Harrington’s series in particular has great analysis and advice on mid to late stages of tournaments. It is possible that you are playing too tight when the blinds/antes creep up. Keep in mind Harrington’s zones. I like to think in terms of # of big blinds (rather than blinds plus antes) since it’s a little easier to calculate and precision isn’t important for this aspect of the game. When you have 11-15 BB, you are looking to re-raise someone all-in and give yourself two chances to win (they fold or you double up). With 10 or fewer BB, you should be first in a pot and always be jamming; the only exception is that you can raise half your stack from the blinds and save the other half for an automatic Stop & Go play on the flop.
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