1/3 Grinding and Bankroll
Hi all,
First post in this specific forum. Normally post in NL Strategy. Hoping for some feedback about bankroll management.
I started playing 4-5 times a week at MGM National Harbor in March after a few months off. Previously I had been playing at MD Live and lost most of what I had won (around $1,200). Anyway, I took $200 to the casino and tried my luck. No bankroll to start really.
I had a great March (+$3,000) but a terrible April (-$3,000) after trying 2/5 and losing $1k and a horrific 24-hour session where I dumped $1,800 in just cooler after cooler (set over set, AK into AA, nut flush v. boat, etc.). This month I'm up around $1,000 so far. Any tips about bankroll management that can keep me from losing it all again? Do you set some of your winnings aside for example?
I have a somewhat steady income outside of poker but my goal is to make poker a supplement to that income and not just a break-even hobby.
Appreciate the feedback.
Thanks,
DT
In other news I am on a weight gain challenge for this year. I want to gain 10-15 pounds. I am eating more calories and continue to exercise daily. I actually cut down on the rowing because cardio burns too many calories. This is good for my health as I have lost weight the past few years and feel like I could be in better shape. I’m probably underweight for my height.
I want to eat 2,000-2,500 calories every day. Today I had peanut butter sandwich, beef stew, avocado, cheese danish, and chicken
Stop bragging 😉
It’s obvious Dumbo hasn’t been running good in spite of putting in long hours. If he were still sunrunning we would be hearing about 100k challenges, making a presidents salary, buying condos, and retiring early instead of this daily doom and gloom wrt poker. There’s the saying “poker is a hard way to make an easy living”. Most people do not have the mental fortitude to deal with a downswing without falling apart and they’re better off working a traditional job.
Yeh I just assumed he was crushing like he was earlier in the year. I'm not sure how much Dumbo made in 2024 but it sounded like he was just printing money most of the year - the sad part with poker is it can disappear the next year and you never touch that peak income again. I remember in 2010 I ran really well and made nearly 300k that year - I was thinking next year I'll have x amount of money, and so on - thinking about an early retirement. Reality hit the following year along with Black Friday - I haven't touched that income since 2010, although this year not too far off. From that experience and other life experience I just realize nothing will last forever- good and bad will come to an end at some point, and there's no guarantee on future success/failure. If he made say 200k+ with flexibility to play whenever you want that's a rare occurrence - don't take it for granted as it can disappear just as quick as it arrived.
Last quarter of the year I made $9,000, so yeah not printing anymore. The rest of the year way way made up for that so I still had my best year ever. It seems every year I make more than the last, but I’ve tempered my expectations for 2025. I would not be surprised if I made less this year than last year. The games are not as soft and the whales are not playing as often and more nitty regs are joining. Also some runbad made me play worse for while there and I’m not playing the big games as often either. The quality of the 5/5 game is normally pretty bad too with a largely TAG lineup.
Time will tell if we just passed the heydays of plo5 here, will see what happens to game quality the rest of the year.
Another brag…lifetime I’ve got over 15,000 hours of play and winrate 10.8 bb/hr. over all games and stakes …sweet! 😀
You seem to know your way around PLO and PLO5, what do you think of PLO6?
Woke up early, back on a day schedule in anticipation of the (hopefully) new job. Due to a snow storm it has been unusually quiet in the poker room lately and the plo hasn’t run overnight meaning I’m just sitting here wishing I’d stayed home and relaxed more and read Outliers, a book about what makes successful people successful. So far it seems a lot has to do with environment and repetition.
I am pleased with my fitness progress too, starting to see some new definition and weight.
Back on a crap schedule already, sigh. Got into an argument with a reg about ratholing and hitting and running. (He beat me in a $7k pot and quit shortly thereafter.) anyway I leave and play hold em and this dude I have never met before starts saying poker is no place to make friends just enemies which seemed quite apropos given my earlier dispute.
Been running meh still to start the new year. Gotta tighten up and remain disciplined. Got KQo in for 40bb versus short stack bad squeezer for example. Pretty unnecessary high variance to hope I’m flipping but rarely dominating. This waiting for the job has me distracted.
Re: The quitting of poker. I think it's the +EV move to do in terms of utility and life. Poker is great we love it, but the consensus is pretty much that it shouldn't (and pretty much can't consistently be) a sole income. While it doesn't quite fit as a side gig like uber would be in terms of its inconsistency, I think it has some similarity to cruise jobs or deployment jobs, where you pretty much need to go all in for a couple of seasons and emerge on the other side with a positive return.
As Dan Cates puts it, poker right now is a 50K/yr job, except in some specific cities where the CoL is higher anyways. If you can beat poker for more, you probably have the IQ and skills to be earning more on more fulfilling jobs anyways.
On a more altruistic note, if you can leave the poker scene, you also leave the ecosystem in a better place, you leave the option available for people in hard spots that can put the hours and the study in to get out of a hole. Whereas by overfishing you pretty much fight for scraps with other sharks. In that coaching is a wholesome pivot, although of course probably overcrowded as well.
So anyhow, that's my 2 cents.
What types of jobs have you been applying to?
Had the most amazing dreams…really entertaining way to spent several hours asleep. One I was attending a trial where someone killed someone and the issue was defense of another. Another I was in my old college town in Ithaca, NY and applied for a gym membership or class and the instructor was discouraging me from taking it because it was too difficult. I third I was in a house and a forest with my sister and I can’t remember the details but it was pretty cool too.
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I am really only applying to jobs I really really want, not just any old job. So this one and a couple others in mental health or disability rights. There aren’t a ton of them out there.
Found this post you might appreciate, it's from a player from the Pre black friday era. Known for the Baluga Theorem:
First, let's start by saying it this way - only a very small subset of high stakes winners (which is already an insanely small subset of poker players in general) actually WANT to be poker players forever. Some do. But most don't, I don't think. Everyone has their eyes on someday doing something different, but we're all sort of golden-handcuffed to the poker table while we try to figure things out.
For me, black friday was the big release point - time to let go and find other things. This doesn't mean that poker left my life forever - I still play online sometimes, or in casinos or home games, or teach, or make videos, etc. But Black Friday was the major kick in the ass to get involved in something other than learning how to identify correct times to fold two pair.
Thanks for sharing that post. I would say to date I’m most proud of reuniting families through my postconviction work. I’ll never forget the beautiful emotional call of my client in his parents’ kitchen thanking me for getting him home on time for the holidays eating a nice steak and potatos. And that means legal work. I’m also proud of my strides in my personal mental health and independence. (Which poker sorta made possible by giving me money and a routine, but I wouldn’t say I’m as proud of my poker achievements compared to my legal accomplishments if only because poker primarily has benefitted me at the expense of others.) Which means rehabilitation after mental illness…and mental health-related work. Combining those two means I would enjoy helping other people live fulfilling lives in the community with their families and overcoming their mental health issues like I have. I want to help people live happier fulfilling lives. That’s why this job would be so ideal given my history.
I heard from the potential new boss, she emailed me back that there may be a delay in hearing back from HR and the hiring folks (the interview panel submitted my info to them after my interview) because of the time of year and budget issues looming. So still on pins and needles indefinitely. So bothersome.
I guess the good news is she is updating me and they sent my info up the chain. So I’m still clearly in contention and they seem interested in me as a candidate.
In the meantime I decided to apply to volunteer at law related places. I’m doing an interview for an internship program I participated in during law school. Might do some pro bono work if the job doesn’t come through. Just want to put my legal skills to use again and reconnect with the law. Too much of one thing like poker can really drag you down and it’s not that fulfilling.
what mental illness you got?
My first diagnosis was schizophrenia. Second one was bipolar. Third was schizoaffective disorder. All from different doctors.
My symptoms without meds are paranoia delusions depression racing thoughts difficulty sleeping and mania. Probably hallucinations too but I don’t know for sure. With meds everything is pretty much under control except I am occasionally sad. (But who isn’t.) I am very compliant with my medication because I really value my well being and don’t want to do that to the people around me.
I’m pretty blessed to have higher intelligence which gives me insight into my issues and keeps me adhering to my treatment. And allows me to function fairly well all things considered. I also have a lot of social supports, mainly my family.
My stepson was just diagnosed as bipolar. He's having a really tough time with the drugs -- foggy and tired all the time. I'm glad you have adjusted so well -- gives me hope for him.
My stepson was just diagnosed as bipolar. He's having a really tough time with the drugs -- foggy and tired all the time. I'm glad you have adjusted so well -- gives me hope for him.
Lots of social support meds and good routine exercise diet sleep therapy etc really have helped me. Gl to him. Be happy to talk to him if he’s interested in peer support. It can definitely get better. It’s hardest in the beginning.
Thank you!
Of course. I would just be there for him if I were you so he doesn’t feel totally alone in his struggle right now. I was very depressed after my first episode. Doing something he enjoys on a consistent basis will help a lot too. I did stand up comedy every day and later poker.
If the side effects of the meds are too serious like sedating or whatnot he can consider a different medication or lower dose, after discussing with his psychiatrist. That’s what I did. Personally I found latuda to be most effective and with the least side effects. I was originally on respiridal but I found it too sedating.
I limp QQT64ds action raises maniac re raises reg isos but it won’t reopen the action so I call and we go to T66 flop. I jam they snap I table and sorta redneck maniac hollers, “he flopped a mother fing boat on the mitherficking flop!” Classic.
Player raises by lifting one chip. I tell dealer who I am friendly with “ when I intend to raise I do this” and give him the finger. He replies, “when I do this to you I mean it.” Good times.
I hope all is well with you. Hopefully you get good news about the new job soon!
I know poker can been extremely taxing mentally and physically at times.
My Ex-GF whom I'm still friends with just got laid off so she's frantically scrambling and in shambles now.
I'm glad you have many avenues to pursue though!
Dude that's awesome, ever think about getting back into it? I feel like the DMV would have a lot of cool places to perform
It did when I was doing it years ago, fun group too. I would probably start doing bits about schizophrenia. The last one I saw about bipolar disorder sorta freaked out the audience though. He just kept repeating “BIPOLAR DISORDER!” over and over and asked this chick in the front row if life had ever ****ed her over.
I hope all is well with you. Hopefully you get good news about the new job soon!
I know poker can been extremely taxing mentally and physically at times.
My Ex-GF whom I'm still friends with just got laid off so she's frantically scrambling and in shambles now.
I'm glad you have many avenues to pursue though!
Thanks! Wish her well. I am not in shambles exactly but the wait to hear about the job is annoying. As is the low winrate recently. I am getting a lot of social support from different sources to keep me afloat.
I am recommencing my $100,000 br challenge again to start the new year where I left off, $46,993 to go.
Excellent. Good luck.