Thanks for all your comments
Thanks Dave, I will definitely drop by and let you know how it is going
Originally Posted by IrishDave
Colin, the absolute best of luck to you. You are embarking on a path a lot of us would like to travel, but most of us never will. Hope you'll still have time to stop in and visit with us as we'll certainly want to hear how you're doing
Thanks Fourdogs. I havent had time lately m8 but will hopefully be a around a bit more
Originally Posted by Four Dogs
colin, my first reaction to your post was to wish you good luck. You haven't been around for a while but as I recall, you seemed like a good sort with decent advice.
Hi XD. I am certainly not looking at it on a daily basis, more on a monthly/annual thing. Of course you have to break the figures down but I realise there will be ups and downs, thats the way cash games go, as you probably know
Originally Posted by xdmanx007
ummmm So you need to average 200 a day at 10/20, table stakes or blinds? So reasonable pros expect 1BB/hr so 10 hours a day of winning poker to cover the bills. Only 1000 in stake. From someone who has, not by choice, but been a semipro for a minute now. You better get your expectations from daily to quarterly, maybe even LONGER! Limit poker in no way can be expected to be looked at on DAILY basis.
1. I didnt mention variance anywhere in my post. I think anybody that has any experience playing poker competively realises there will be some degree of variance, whether you play tournament or cash games
2. STARTING OFF with $1k. This means I wont start playing until I have this amount. Of course I dont expect this to make me a millionaire, I will continue to invest, as I will continue working, one of the points mentioned in my post
3. How do you calculate that playing these blinds will leave me busted? Refer to the above point about investing
4. To begin with, WHILST I AM WORKING, $200 a day will have a VARIANCE, so lets say I earn $1000 per week. $50,000 per year would be ok to start off, considering my current lifestyle. As I continue to INVEST whilst I am working, I would hope to cash out on a regular basis
Who mentioned about missing anybody?? The fact US players dont play on this site isnt a massive plus for me, its a good one, but not massive. IMO there are just as good Swedish players on sites like Ladbrokes, so the competition is high
Hopefully this clears up all your points. If not feel free to contact me, otherwise allow this to be a thread you dont make your own
Originally Posted by diabloblanco
Just to make sure I've got all the facts correct as I read them.
1.) You have been playing online for appx. one year and have recently experienced the positive side of variance, and are now making the decision to go pro.
2.) Your plan to accomplish the bankroll for beginning your "pro" career is $1K.
3.) With this bankroll, you plan on playing $10/$20 limit which will allow you about a 50BB experience on the other side of variance, which will leave you busted.
4.) You claim to need to make $200/day in order to make ends meet and maintain your quality of life, which is equal to 20% of your bankroll....
OK, if I missed anything feel free to correct me. If I didn't, this has to be a joke that went over my head.
PS- Us dirty "Yanks" don't miss you, feel free to stay wherever it is that we aren't allowed.
As Diablo mentioned, there will be a variance in play and of course I cant expect to be exempt from bad beats. As I said, I will continue to work and invest in my bankroll until I am making a good enough regular income to afford to play full time. Your 2nd kinda is the kinda route I will be taking.
This decision hasnt been made purely because I won a few hundred bucks in some tourneys, of course not. I have been making money in cash games for a while now, playing at $1/2, then $2/4 and more recently $4/$8. But I dont put much in and tend to spend all my winnings playing in MTT's ($300 buy-ins etc), and its much harder to win consistently playing these
Thanks very much for your comments tho m8
Originally Posted by robwhufc
Colin, at 10/20 you can conceivably put in $200 on ONE hand. It will only take 2 or 3 bad beats to take you down $300 or so - you're bankroll isn't enough to deal with those fluctuations. You're going to have to play a hell of a lot of hands to CONSISTENTLY turn $200 a day, the standard at that level is going to be high (not EVERYONE can make money there can they), you'll have to pay a fortune in rakes.
Why dont you try a few 8 hour weekend shifts playing 2/4, or 3/6? If you can do a number of these, firstly you'll build up your bankroll to a more feasible level, and secondly you'll see whether you can withstand the pressure and volativity as well as maintain your concentration and ability over an extended period.
I wouldn't plan your future after going through a 3 week "hot" spell - sorry to be negative, just looking out for you Colin!. Good luck though, whatever happens.
Like I mentioned, I wont be playing in as many MTT's. This is a harder way to make money as a pro, especially when firs starting out. When and if I get to a position where I can afford to play MTT's as well as cash games, then I will.
Thanks for your advice, on the ball as always!
Originally Posted by buckster436
So you want to go pro,ok heres a tip>start by investing your money in multi-tourneys,lets say a $100 buy-in and see how it goes>if you win one the pay off is good and if you lose you only lost $100> ( i am quoting this from Howard Lederer ) he claims this is the best way for someone to turn pro thats just starting off>the investement is small and the pay off could be big, Even if you got in a $50 buy-in and won it the payoff is great for the $50 you invested. This is a way of testing the waters without going broke the first day. ok good luck>>>>>>>>>>>>>>> buckster436
[quote=Nick]Welcome back colin,
Great news on you going pro, good luck to you!
If you ever fancy making the switch to party, or any other sites, let me know via PM before you download the site and I'll try and fix you up with a good deal![/QUOTE
Thanks Nick, I will definitely do that. I will stay with Laddies for the time being but Party is something to think about
As I mentioned, these are daily targets, I was breaking the monthly, annual figures down, as you mentioned.
My goal is definitely long term, hence the contract work in between.
Thanks very much for your constructive advice
Originally Posted by chicubs1616
I really don't agree with this. I know that Buckster is quoting someone else here, but putting 10% of your bankroll on one tournament is not a good idea.
I wish you the best of luck...but your current goals are WAY too optimistic. Your bankroll of $1000 is good if you play on playing 2/4 full-time. In order to take the HUGE swings of limit poker, especially higher stakes (10/20) you should have a bankroll of AT LEAST 300 x Big Bet, or in the 10/20 case...$6000.
Instead of thinking of having to earn $200 a day, think of it as $1400 a week or $5600 a month...daily swings will mess with your mind if you focus on them. Your goal should be long term.
I might take that $1000 and invest it somewhere safer than trying to play 10/20 limit!!!
Just my two cents...good luck to you whatever you decide to do!
Ok, firstly $1000 is my starting bankroll. I am not saying "I have $1000 to make it as a pro, hell no! I have done my research and am fully aware of the limits I can and should be playing with the amount of money I have to invest.
I will meausre my winnings over a 3 MONTH period, the lengh of my work contract. Also to add, I do not DISLIKE work, I enjoy it. I said my heart wasnt in it because its not what I want to do long term.
As I also mentioned in my post, I have taken time from work due to moving and other stuff. Admittingly, I didnt play the way I would when I go full time, but I know I can adjust as I played a lot of cash games and did ok.
I think anyone considering going pro will check the ins and outs and will be dealt a harsh lesson at some point.
Originally Posted by Dorkus Malorkus
Ok here we go...
Main considerations when "turning pro".
- Will you be able to cope with the boredom that comes with essentially having to put in a lot of hours a day playing?
- Can you cope with the pressure of having to win to pay the bills and put dinner on the table?
- Do you have "get out" or backup options should you decide going pro isn't for you or go bust?
- Do you have the support of your family and close friends?
- Have you proven yourself to be a winning player over a large sample size (we're talking many tens of thousands of hands)?
- Do you have an adequate bankroll to play at the limits you want to play at?
If the answer to any of these is "no", or even "maybe not", don't do it. Sure you might dislike your current job, but it's a more certain and less stressful method of income than playing poker, I'm sure.
Playing at $10/$20 with a $1000 roll is suicide. You will go bust. Therefore the answer to the bankroll question is no, and you should either re-evaluate the limits at which you want to play, or better yet dispense with the idea. No offence intended here, but if you were seriously considering playing 10/20 with a 50BB bankroll, you're almost certainly not knowledgeable enough to make it as a pro. 50BBs can be wiped out in one bad session with ease.
You mention winning over a 3-week period. In 3 weeks you will not have accumulated enough hands to have a large enough sample size to give you a realistic indication of your ability and if you actually are a "winning" player. Thus the answer to the "Have you proven yourself to be a winning player over a large sample of hands?" question is no.
I could go on, but I won't. If you're absolutely set on going pro, take 2 weeks holiday from work and play as if it were your sole source of income. Again, no offence, but I suspect it will be a harsh lesson.