Quitting on the Ferguson Challenge

After a horrendous day of bad beats, I've blown through my hard-earned bankroll acquired from freerolls and one refer-a-friend bonus. With that I am calling an end to my quest to match Chris Ferguson's 0 to $10K challenge.

This is hard for me, as I know I am a good poker player, and I am not a quitter. But frankly, I know myself, and I do not have the desire or patience to deal with losing on the river in 90% of the tournaments I play in, as has occurred today (may be a slight exaggeration, but you get the point).

More details on how I went out can be found on my blog. I think I will stick with my bi-weekly live home game and leave online poker to all you sharks here at cardschat.com.

Good luck to all of you who are persistent enough (or foolish enough) to keep grinding it out. Maybe I'll see you in a cardschat freeroll from time to time.

Chris Ferguson only STARTED with freerolls! Once he built up a lil' BR from winning a couple of 'em, he began using his own BR stratagy rules and then began to play in real money tournys/ring games! And from THERE he built it up to $10K or so! You didn't think he won $10K in playin' only freerolls, didja???? And even more importantly---Chris Ferguson IS, after all, CHRIS FERGUSON!!!!

That's it.
I started playing online only 3 months ago.. I read about Ferguson's Challenge on FullTilt and decided to do the same. Obviously, I don't "think big": I would be happy if I won some 300$ in one year...
I won 2$ in a freeroll. Started playing 1,25$ S&Gs and got to 5,00$. Then lost almost all. At the moment I'm starting anew.
Patience is the magic word, and constance.
Many people I know only think about becoming rich playing poker. But very very few succeed.
I play poker because I like playing it and don't feed the illusion of making a living of it (sorry, maybe I went out of topic...).
Bye, Arian

Think about how Chris felt he was playing. IIRC, there is a point where he lingered around $6 in his bankroll for nearly 7 months before hitting it big with 2nd place finish. So, its all about being persistent and having patience.

Also, I took a look at your blog...maybe you have a problem with bankroll management? You seem to be playing way above what your BR allows. If you're trying to do the Ferguson Challenge, its not just about going from $0-$10K. I would suggest you follow the guidelines he suggest when it comes to BRM. After all it worked for him, so its bound to work for you.

It could be a mental thing as well. While making $10K sounds great and fun, if you're pulling in $1 here, $3 there its going to take you a while. You might come aggravated, bored, whatever and start looking fore those big jumps in your bankroll, which might lead to playing out of BR. If I were doing this challenge, I'd break it down into sub goals. $0-$20 for example. Then $20-$50. $50-$100 and so on.

I like the sub goals approach!! I am running too fast when I win something... I just hate BR and want to win big and fast :-) But ALAS it does not work that way.
It is funny we are so proud about our 50-100$ "hoards" where in Vegas we lose that amount in 2 minutes... life is strange sometimes

Keep on trying mregister2. I know I'm still new to the Ferguson challenge, but I recall hearing about other people making progress and always gives me hope.

Obviously and understandably you're frustrated with the results so maybe take a few days off from the challenge and then try it again when you're refreshed.

I also think changing how we (for those who have encountered frustrations including myself) think of this challenge will help too. Instead of thinking 0 to $10,000, think of it in smaller steps like 0 to $10, $10 to $20, 20 to 50, 50 to 100, etc.

Well, so far I'm not winning the freeroll I need to start this process. Came close today but called all-in on AK suited. I got a pair of aces, but my opponent hit three 9's (pocket pair). Should I give up? Of course not! We all have bad days, but don't give up on the goal because it is hard,- that is what makes it worth pursuing.

dude about 2 months ago i tilted away about 3/5ths of my bankroll, but about a week ago i reached back up to where i was. It's all about persistance and if your a winning player, you have to learn to deal with the tough times and power through

u know what pilthy im gonna do as u say ur right its not all bout hitting big at 1st like i try to do cuz when ever i win any $$$ in freerolls i take most of it and BAM lets go for a big win well that dont work so maybe i should try ur appraoch thanks

ok i know i prolly played it bad but it was a bluff gone horrbily wrong i jus wanna know who else would call this.......ok i have K8 he has JJ flop 6QA turn Q and river was 7 ok he bets 600 on flop i call cuz i did have a flush draw and it was a freeroll but then second Q comes out he only bes 260 this time i reraise him all in YES I DID BLUFF lol but with QAQ out there he only has JJ i reraise him when 2nd Q comes out let me remind still A on the board also i reraise him all in he calls with JJ with AQA would anybody else call an all in with that on the board and pocket jacks in ur hand?......or do u think he did it only cuz it was a freeroll??

What caught my eye in the original post was the "horrendous day of bad beats where they blew the bankroll part"

Since it obviously wasn't a single game that busted you out..i'd wonder if maybe you were suffering from a bit of tilt after the first few losses which then led to greater losses.

I know i've been there..win a few dollars in freerolls...win a few more in SNG...then try cash games where dollar by dollar you get chopped down.

The Ferguson approach is certainly a conservative one...but the general idea is to lessen the blow if you do suffer a bad beat.

After the first bad beat or two....just walk away for a bit...take the whole day off from poker even...the thing is...the game will still be there tomorrow...when your in a more optimal decision making mode

One of the key elements that is seldom followed in the Ferguson Challenge is the BR management. Winning a few sheckles at a FR is only the bare beginning. From what I've seen, and from what's been posted, many will win a small amount in a FR and run right off to a NL table way over their BR and -poof- it's gone.

Since I will not deposit online at ANY site, I started working the challenge seriously in February. (I save my cash for live tourneys at the casino here) Winning some here and some there, I've let it sit to build. It's now almost $40. Believe the others when they say 'patience' is THE key. When you win your $2 or $3, don't run to the cash tables to donk it off. Two $1.50 SnG's with a $3 BR is not the answer (imo). Leave it in the cashier, it isn't going anywhere - and - it's cash, it won't spoil.

Remember, even the nightly Fergy $1 tourney (with no 50c rake) is 10% of a BR if you have $10 in the cashier. Even THAT is above the Challenge guidelines.

Since it took Chris 7-9 months to get near the $10 mark, I'm happy to wait and let the guidelines work FOR me, instead of working the odds against me. I had to install insulation in my pants to keep my mini-BR from burning a hole in my pocket, but it works.

I just crossed the $10 mark on Stars as well and am now ready to start working their 10 and 25c tourneys. It's a grind to be sure. Maybe I'll never get to the $10k, but using a system that does work makes the effort worthwhile.

I'm not a 'Chris' and you don't have to be either. What I have come to believe is that all it will take to make decent progress in a tough game is 1. Patience 2. Follow the rules 3. Patience 4. Follow the rules 5. Patience ... etc ... etc ... and watch your BR grow.

GL .. maybe I'll see you in the Fergy one night.

Thanks for the words of encouragement guys. I was obviously very frustrated when I wrote this last night. The funny thing is I am never that emotional when I take beats in person, but online poker has a way of boiling my blood.

After reading everyone's advice, and taking what I've learned about myself the last few days, I've decided to stick to freerolls until I have at least 75x the buy-in of the lowest priced tourney I can play in. That means at least $75 in my account to play the $1 Ferguson every night.

OK, so after losing my bankroll yesterday, I cashed in 2 of 4 freerolls I played on full tilt and finished just outside of cashing in the 3rd.