ITH Poker Forum

[pokeraccord]

I plan on playing poker full time as a living and occasionally playing tourneys.

I am troubled by a few questions I couldnt find the answers researching the forum.

Ok, I have $3600 to play 6-12 limit.
with $2000 mon. in expenses

1. How do I pay myself if I'm winning? Should I pay myself every two weeks like a paycheck? Let's say in perfect world Day 1 I win $300. Day 2 $575 Day 3 1200 What would I do with my winnings? Save some of it? apply it to my bankroll?

2. On the reverse side lets say I lose those amounts? As soon as I dip 1$ below the 300 big blind rule do i move the next lower limit? Im thinking as soon as hit $1800 dollars I have to move down to 3-6

3. Let's say I move down to $1800 and the next week I win 400 total, I still have bills to pay so do I scrape it from these winnings, or am i supposed to save it to try and move back up to $6-12.

What would be the purpose of building my bankroll, if I'm content playing 6-12?

Does anyone know where I can find a write up concerning on how to use your money and pay yourself like a job?

Thanks in advance for any feedback
JC

[the_hawk]

Best advice on this I've read comes from Ed Miller. Google "Noted Poker Authority". His articles used to be free but unfortunately you now have to subscribe (I think).

Should you read Ed's advice you will find:

1. Your starting bankroll (a little over 200 BB) is very thin.
2. You will have to play a hell of a lot of poker just to meet your monthly nut (expenses). At 1BB/hr net earn rate you will need to play for 170 hours per month just to meet your nut.
3. If you don't have a bank of expenses built up you are going to struggle badly; unless you start winning big right from the gun your expenses may well eat up your bankroll before you even start.

But Ed's advice expands on this a lot more.

[pokeraccord]

yeah i think you have to pay

[egarevel]

Pay yourself each time you have played enough hands to have reached the long term. In limit holdem we're talking 70k hands at least. If you're 6 tabling online you should reach this number of hands after 6 weeks of full time play. Thats when you should pay yourself. Then promise yourself that you won't pay yourself for another 6 weeks of full time play.

[Primitive]

300 BB is Ok for recreational play but for a full time player its a recipie for dissaster. There will be negative swings and with no security net you'll be almost destined to bust at some point.

To play pro you need at least 500-1000 BB's + minimum 3 months worth of expenses stucked away somewhere.

[pokeraccord]

thanks for the advice guys.

first day at the job i made $205

looking back, i just felt like i got lucky cuzz i scored 2 big pots with the nuts. no fancy play or good laydowns.

i don't play online.

[sinin1]

what are your expenses to live every month?


what are the costs with going to where you play?
commuting/fuel/ maintenece of vehicle

[philhux]

All I'm saying is if you want to go pro by playing 6-12 Limit live, then you better like eating ramen.

It's going to be pretty impossible to have a decent standard of living with no other income.

Why not get some kind of part time job that will at least give you enough to cover rent and play poker time - this will also release pressure and make you play better.

[Zenjo]

Playing live limit holdem for a living?

It's not the 90's anymore dude.

[Raisindye]

Playing live limit holdem for a living?

It's not the 90's anymore dude.

haha, no it's not, but the thread started way closer to the 90s than today... you guys are funny!

[Fumseck]

You realize that the op pokeraccord wrote this in 2008 right?

[Raisindye]

Playing live limit holdem for a living?

It's not the 90's anymore dude.

haha, no it's not, but the thread started way closer to the 90s than today... you guys are funny!

You realize that the op pokeraccord wrote this in 2008 right? Wink

Subtlety obviously got me nowhere!

[Fumseck]

Yeah I know you saw it...