Last Leg?
Yelp!
With no job and no income outside of poker winnings, I’ve had very little extra cash in my pocket. So little that even though I’ve been running very well (tidy %30 ROI this year), I haven’t played enough games and it’s still not enough to pay my bills. Because of this, my bankroll’s been slowly but surely dwindling down, and it’s now sitting at a lowly $400. Having my bankroll at that smaller size means smaller stakes, which means more variance, which in turn means a slower winrate. Basically I’m in a vicious cycle, and my bankroll’s taking all the hits.
I’m not really all that down about this because I know that if I were to just get up off my ass and get even a minimum wage job, it would at least pay my rent and my bankroll would be doing fine. So I know ultimately it’s my fault my bankroll is where it’s currently at.
Because of this cycle of slowly building up my bankroll, and losing a huge chunk of it every month to rent, I’ve been playing less and less from fear of losing games to variance which would just add to the stress. Doesn’t make much sense, I know, but neither does playing poker off of a bankroll smaller than $2000 for half a year :P. So I’ve made a plan - not much of one, but it’s better than just letting my bankroll slowly die off. Better to go out with a bang than blinding yourself away, right? 
So my plan is to basically play like crazy with what remains of my bankroll until I’ve either lost the entire lot (in which case I’d have forced myself to go out and get a job), or won enough to keep my bankroll going as my only source of income. I think I would prefer the latter as a result, but even if that does happen I think I should get a job for a consistent primary source of income. I’m thinking of playing strictly SnGs, but I’ll probably get sick of them soon enough to have to switch my play up with the occasional MTT or ring game. If I lose enough of my bankroll where playing with %5 won’t yield any significant winnings, I think I’ll take a shot at a single MTT to see if I can spring some miracle win. I only pay $300 for rent, but April is fast-approaching, and with only $400 left, I’d better get off my ass and do it!
My ultimate goal is to have a well-paying job that pays all the bills, and a healthy bankroll on the side that I can make money for all the extras.
If I do lose my whole bankroll, I will probably be pretty busy job-hunting or working on building another bankroll. I’m saying that I won’t have time for cardschat, but I think it’s pretty obvious I’ll still poke my head in once in a while. I don’t think I’ll ever fully leave cardschat until the site dies (god forbid).
Anyways, I’m off to walk the dog, get back and eat something, take a shower, and get to work grinding the tables!
Wish me luck :/
-Taylor aka ChuckTs
Hmmm Chuck, I dunno, I cant really advocate using your full bankroll in a fashion like this, you seem to have it in your head that your going to lose it. Personally I certainly wouldnt take a shot at a big stakes sit and go, id favour hitting a full ring table with it, but thats just me.
Just go get the job now mo chairde, keep the bankroll and grind it up—- Tenbobs advice.
Comment by tenbob — March 23, 2007 @ 5:37 pm
what happened to school? i thought that was coming up soon.i agree you should get some kind of job and you better find time for us at cardschat. we value yo greatly there and i know you can’t stay away for long. i also agreew with tenbob here if it is in your mind you are going to lose it then you probably will.think positive and use proper bankroll management with what you do have. don’t go on tilt here chuck!!
Comment by pokerrqueenn — March 23, 2007 @ 5:58 pm
sounds like you are going on tilt here. what happened to school?i agree with tenbob here. if you have the mindset that you are going to lose then you probably will lose. practice proper bankroll management with what you do have. i am sure you will make time for us at cards chat. don’t lose your head here chcuk and go on tilt.
Comment by pokerrqueenn — March 23, 2007 @ 6:01 pm
Chuck, I’ve got all the respect in the world for you as a poker player and as a forum member/source of advice, but you’re a young guy (I think, this coming from a 45 year old who spent his 20s as a professional student and didn’t have a full-time permanent type job until I was almost 30, BUT, I was spending my time in universities and working just enough to pay for my studies).
I really recommend turning your perspectives around. Walk the dog, eat, take a shower, then get to work FINDING A JOB. Looking for work should be a full time job, at least 6 hours a day. Then once those 6 hours are done, then hit the tables as a reward for your day’s work.
I’m afraid you’re putting more than your bankroll at risk if you don’t put finding work at the top of your priorities.
Comment by NineLions — March 23, 2007 @ 6:42 pm
Go for it dude, you only live once… The worse thing that is going to happen is you loose a few hundred bucks!
That’s not to take away from the fact you prob do NEED a job and obviously that’s more important than playing poker right now!
Comment by gad123 — March 27, 2007 @ 8:57 am