Progress Update

It's been a few weeks since my last post and during that time I've had some substantial ups and downs including my worst day ever! YUCK!

After my last post I ran off a few small, but not insignificant wins and then had a day where I got totally rocked. I started the day ahead over $1,000 and then fell like a safe thrown from the roof of a skyscraper. In the span of about 6 hours I went from up $1,000 to losing $5,000! That's -$16.67 a minute for 6 hours! Of course that's what can happen playing two $10/$20 games and two $15/$30 games at once. Amazingly I feel like I played just fine, but I just had an insanely bad run of cards.

The bit of good news was I cashed in 100,000 FPPs that day for $1,500 and won close to $1,000 in a $530 multitable to finish it off so while it was still a terrible day it went down in the books as very, very bad instead of an epic disaster.

While you might think that was the worst day ever (it was certainly the worst 6 hours of my professional life) that I alluded to above, you'd be wrong! 9 days later I lost about $4,500 with nothing to cushion the blow. My previous worst was way back in 2006 and came playing four $5/$10 blinds no limit cash games (Those are $1,000 buy in games). During that session I lost THREE pots that had over $2,000 in them in the span of about 15 minutes. I ended up losing just over $4,000 on that day and have been lucky enough to not have any days worse than that since until recently.

So what does this all mean? I must be close to broke right? WRONG! Despite those two awful days I'm still doing really well for the year. In the 62 days that I've played so far this year I've had 41 winning days and 21 losing days. More importantly I've had 17 days where I've won more than $1,000 and only 6 where I've lost more than $1,000. Despite the 6 hours of doom, February was the second best month I've had in the past 24 months and even though I had my worst day ever in March and it's only two weeks into the month I'm still having a solid winning month!

My point production is still behind where I want it to be, but I'm cautiously optimistic about the coming months. So far I've earned about 165,000 of the 1,000,000 points I need for my Mega year end bonus. I expect to be in the 210,000-215,000 range by the end of march and have plans for an insane working month in April which could put me almost back on pace. By the end of April I'll need to be at 333,000 points to be right on track and I think I can make it to about 315,000 which isn't that far off.

Testing the Waters

Last week was by far my best week of the year. Actually it was my best week since October of 2007 and if you cut that one out, you have to go all the way back to early 2006 to find a better 7 day stretch.

More important than the money I made was the fact that how I made it is very reproducible. I'm not saying that I'm going to run off $2,000 days a few times a week for the rest of the year, but winning day after day speaks more to future potential than having one big tournament win.

One of the nice things for me about playing after going on a nice run is not worrying about taking a significant loss. While I always sit down planning on and expecting to win, it's impossible to not let thoughts and fear of a big loss creep into my head from time to time. But when I've seen my account balance skyrocket in the previous few days I haven't really grown attached to that money yet. I rarely if ever get out of line with the risks I take, but If I get killed one day I can look back at where my balance was a few days earlier and still feel good about where I stand.

With all of that in mind, I've been testing the waters in the bigger 6-handed limit cash games. I've pretty much cut out playing the $5/$10 games and have instead gone to either all $10/$20 games or a mix of $10/$20 and $15/$30 games.

I've even dipped my little toe into the $30/$60 pool (I've played about 150 hands total in the past 3 days). $30/$60 is no joke. The average pot in a $30/$60 game is in the $300-$400 range and $1,000 pots are not completely uncommon.

The past two days I've had really nice results playing $30/$60 in small bursts. While that short of a span tells me next to nothing about what I could expect playing in the long term, it's still nice to win.

Yesterday I started off crazy hot in my normal games and was ahead over $2,000 before noon. Then I went totally down the toilet and found myself losing $1,000 towards the end of my day. Luckily I made a little surge at the end which included a $500 boost from a few made hands in the $30/$60 and ended up winning about $200 for the day.

Today I experienced similar but less drastic swing. I was up about $1,000 early then gave it all back plus some. Once again I made a late inning surge with a $500+ win in less than 20 hands of $30/$60 (I play about 500 hands and hour so 20 hands takes less time than a bathroom break).

The key hand was my second hand at the table (I was in a few other games and only playing one $30/$60). I picked up 44 in the small blind and when the button raised to $60 I reraised to $90. The big blind folded and the flop came down 9 4 2 giving me a set. I bet, my opponent raised and I made it three bets. At this point there was $390 in the pot, the turn came a ten and I bet out $60. My opponent quickly raised to $120, I made it $180, and he called.

Now there was $750 in the pot and while I was 98% sure I had the best hand, my heart was certainly beating a little faster than normal. The the river brought a Q, I bet $60 and got raised. ACK! I was worried that my opponent might have QQ, but I certainly couldn't fold for another $60 with $930 sitting out there in the pot. I called, my opponent showed QT and I took down a very nice pot.

In the coming days I expect to say in the $10/$20 games, but it's fun to push it a little and I can certainly see myself pushing the envelope a little in the near future.

A Week To Remember

The past five days have been amazing. Not only have I not had a losing day, my worst day was an $800 win!!! I have been KILLING the $10/$20 games. This is great news not just because of the money I've been making, but it means I'll be able to earn points at a much faster rate.

Along those lines I've just crossed the 100,000 point mark for the year. This is the point at which you earn regular supernova status for the rest of the year. In 2006 the first year that pokerstars started their current rewards program it took me until the middle of June to earn 100,000 points. In 2007 it took until the middle of April.

Even though I've drastically improved my point generation over previous years I'm still behind pace. In order to be on pace I should have crossed the 100,000 point mark on February 7th and be at 123,000 points today. However, I'm not worried. While I can earn 1.05 points per hand on average playing $5/$10 games, I can earn about 1.4 points per hand playing $10/$20 games. While I haven't switched entirely to the larger games, a mix of two smaller and two larger games has been what's been producing my major success and about 1.25 points per hand on average.

Something interesting happened to me on Wednesday. I found myself up about $1,000 when I stopped for lunch and when I came back I browsed through the big games to see if anyone I knew was taking a shot at the big bucks. I didn't see any of my regular opponents, but in a 6 handed $50/$100 game I did see Money800 who I happen to know is 2003 WSOP main even winner Chris Moneymaker and a guy named AffleckKGB who I thought might be Ben Affleck. I happen to know that Ben Affleck is a very serious poker player, this guy was from Irvine (which is near Hollywood) and I don't know who would want to have a name like AffeckKGB with a picture of Ben Affleck other than Ben Affleck.

Anyway being so far ahead and given the chance to play against a former world Champion and a potential celebrity made it seem like I should sit down. There was one seat so I bought in for $2,000 and waited to get dealt in. On my first hand I was dealt AA in the big blind! "I am a fucking genius!" I thought to myself.

Someone raised and I three bet. The flop came K 2 4. I bet, got raised and three bet it. The turn was a 3, I bet got raised and just called. I was hoping I was up against a hand like KQ, but even though I liked my hand I still felt nervous. On the river (which was a J) I check called and my opponent showed A5 for a wheel. "FUCK! I AM AN IDIOT" I thought. That was a quick $600 out the window.

In full on moron mode now, I decided to play a few more rounds and actually got about half of that $600 back. Even more amazingly I kicked even more ass in my normal games and ended up winning a little more than $2,100 on the day.

If I can manage anything even remotely close to this level of success for anything longer than the short term, life is going to get a lot nicer in the Huff household.

Take That You Bastards!

Last weekend Jen and I left our son Peyton with one one his Grandmas and his Aunt Kristen while we spent a night in Napa wine tasting with our friends. We have a much longer trip (4 days, Peyton is coming on this one) to Lake Tahoe at the end of March in our plans. There were 45 days between these trips and I've set myself a few goals for this time period.

The main goal is to earn 140,000 points. This will put me at 225,000 points, a quarter of the way through the year. While I'd love to be on pace and at 250,000 points, I looked at the numbers and came up with a reasonable goal. The plan has always been to shift to higher limit games which generate more points as the year goes on so in a way being 22.5% of the way there 25% of the way through the year is on pace.

Of course it's critical that I at least break even during this stretch. At best I'm hopeing for 10 cents a hand which would net me $14,000 on top of the points and bonuses which are my main focus.

Another minor goal I have for myself during this stretch is to lose 10 pounds. Our cabin in Tahoe has a hot tub and I don't want to look like a tub myself when I'm sitting in it. I could see myself blowing this goal off, but I feel like any effort I make on this front won't be a waste and if I make any progress at all I'll be happy.

Mentally I set these goals for myself when I was cruising around in a limo, drinking fine wine, and enjoying life with my wife and good friends in Napa. On Monday I started implementing my plan and kicked off this project with a major bang.

On the first day of my new set of goals, I knocked out 4,200 points and I won a staggering $1,800. I played a mix of two $5/$10 games and two $10/$20 games and amazingly I killed the latter and struggled in the former. In fact I managed to win a little over $2,200 in the bigger games while losing the difference in the smaller games. However it happened, it was a fantastic start.

Today I started with the mindset that if I took a loss it would be fine since I'd had such a great day the day before. Amazingly I had an even better day! While I managed slightly fewer points (about 3,800) I won 33% more money ending up winning $2,400 on the day which was my best day so far this year! About 90% of my win came via the $10/$20 games. I'm not sure what it is, but I seem to be having an easier time with the slightly better players.

I don't think I've ever had two back to back days where I won at least $1,800 playing cash games in my entire career. If I can manage anything close to this level of success on a regular basis, I'll be driving a new Mercedes and living in a big ass new house by the end of 2009!

9 Day Mini Challlenge Recap

After setting the goals of earning 25,000 points, working out 5 times and making $1,000 (before factoring in points of course) I barely missed one goal, came up embarrassingly short on another and blew one out of the water.

Sadly the workouts didn't happen. I worked out the first day and did another half assed one a few days later, but for the most part I totally blew this aspect off.

I did a little better points wise earning about 22,000. This wasn't quite what I wanted, but I found myself feeling totally brain dead a few times during the 9 days and I just couldn't quite pull it out. It's amazing how mental fatigue can build up in a period of days when you're actively thinking hard all day for many days in a row.

Of course the most important goal was the dollars and I did MUCH better than I was expecting. After my strong start I continued playing well and winning. All in all I won about $3,300 which was a little more than I'd lost in January.

While normally breaking even for a professional player is a disaster, in this case it's my goal since I'll end up earning $96,000 in bonuses by years end if I can make it to 1,000,000 points.

Right now I'm at 85,000 and I'm quickly falling behind. But not so far that I can't make up the difference. I'll outline my next set of mid range goals in my next post. For now I'm going plan on knocking out 20,000 points between Monday and Saturday.

Excellent Progress!

I'm 3 days into my 9 day 25,000 point, $1,000, 5 workout mini goal challenge. So far things have been going great. While I've only done one workout and I'm only just over 6,000 points (it's always been the plan to do most of the heavy lifting Monday through Friday) I'm ahead a little over $2,200! After my $1,000 day on Thursday in limited action I knocked out a full work day yesterday picking up $600 in the last hour after being about even all day.

Today was another $600 day (those never get old) and I had something happen in a hand that I've never seen before. I raised before the flop with QQ, the player on the button three bet and I capped the betting at four bets. The flop was Q 8 6. BINGO! I went from having the third best starting hand (out of 169 possibilities) to having the absolute best possible hand on the flop. I bet, my opponent raised, I three bet and he capped it. At this point I figured he had either AA, KK, 88 or 66. The turn was another 6. I checked, he bet, I raised, he three bet and I capped it. Normally I would worry a little bit about him having 66 here, but not enough to slow down. The river was another perfect card. It was the last 6! The way the hand played out I knew there was no way he had the 4th 6. I still thought there was about a 90% chance that he had AA so I decided to check and hope that he would all of a sudden become confused about what I might have and bet. To my delight he bet instantly when I checked. I raised and to my shock he three bet! I capped it and he called with KK.

It's rare that you see someone overplay their hand to such a spectacular degree and I'm about 90% sure that this is the first time I've ever been in a hand where it was capped on all 4 betting rounds. I'm 100% sure this is the first time I've ever seen any two people cap the turn and the river when neither of them had the total nuts.

Hopefully this good run continues. After 3 good days in a row I'm feeling much better about my chances of being able to see this thing through to the end of the year.

Mental Reset

On Tuesday my good friend Matt Lessinger who is also a pro poker player came by to look over my shoulder for a few hours. The previous Tuesday we did the same thing and although the main purpose of that first visit was to get Matt's opinion on the moves I was making in my $5/$10 games, he said that the time we spent helped him "stop being such a pussy" at the tables.

On both occasions we split all of the action 50/50 and while we only took minor damage the first time, this Tuesday we got smoked. We lost about $800 which is a boat load considering we only played about 750 hands of $5/$10. I'd lost before he came over and I lost more after he left too. It was a shitty day.

So I decided to take Wednesday off to clear my head, rethink things and come up with some short term goals. On February 9th Jen and I are headed to Napa to do some wine tasting and spend the night in a bed and breakfast. I decided that would be a good short time period for which to set goals so I've set a couple for the next 9 days. I have a 3 part plan: 1) play 25,000 hands of $5/$10 (I'm putting the $10/$20 and above games on hold), 2) workout 5 times, 3) win $1,000.

The 25,000 hands will be a little challenging, but not grueling. As far as the workouts go, I'm hoping that the exercise will help me sleep better and keep my mind sharp. Plus after some MAJOR holiday binging which started at Thanksgiving and has stretched through the end of January I've put on a few pounds of pure fat. I figured the $1,000 would be the most difficult part, but I had a fabulous day today winning about $975. This was great timing for a strong win and I'm going to try hard to remind myself that breaking even over the next 8 days is a victory and not a minor defeat.

I'll keep you posted on how I'm doing as far as hitting my post mental reset goals.

That's a Lotta Rake

In cash games the fees that the house takes are often referred to as rake or drop (because in person the dealers literally "rake" the chips out of the pot with their grubby little hands and "drop" them in a little slot in the table where they disappear into a strongbox). Unlike in tournaments where the fees are paid ahead of time, in cash games the house either takes a set amount per hand or a percentage of the pot up to a given maximum.

In the case of pokerstars in the games that I'm playing they take 5% of the pot up to a maximum of $3 and they round off (down) to the nearest dollar. Compared to the Oaks Club where for games of a similar size they take $3 out of every pot (or evil, evil Bay 101 where they take $4), this is a great deal. Also with no dealer to tip and no bad beat jackpot to fund, online poker wins in a landslide as far as value goes.

The problem that I'm having (I think) is that the rake still adds up at an insane rate. To date this year I've earned 60,273 points. That means at a BEAR MINIMUM pokerstars has taken $60,273 from games that I've played in. That would mean that if the tables were always full (6 handed) and they never took $3 from a pot (you get 2 points when they take $2, but no extra when they take $3) my share of that rake would be $10,045.50. Of course when you take into account that I've played thousands of hands where they've taken $3 and thousands of hands where we were playing 2, 3, 4 or 5 handed the amount that they've actually taken and the amount that I've actually contributed to the amount taken is much more.

To earn 60,273 points playing tournaments I would have had to pay $12,054 in fees so I'm guessing that's at least hoe much I've personally paid in rake. Of course they have given me back $3,167 in FPP's (it doesn't seem so generous any more does it!).

So what does this all mean? Well it's by far the biggest reason that I'm having some much trouble breaking even let alone winning in these games. I've lost about $2,500 playing meaning that if there was no rake I'd be ahead $9,500!

Of course it's not reasonable to pay no rake and if there are no games with no rake then who cares how much better I'm doing than the average player (who is getting killed by the way)? Well the epiphiney that I had today was that the rake is the same for the $10/$20 games as it is for the $5/$10 games. This means that if I can match up equally well or even a little worse against the $10/$20 players as I can against the $5/$10 players then the rake will have much less impact.

For example if I'd played the exact same hands with the exact same results (meaning that somehow the same players made the same decisions with the same cards - it's just for the sake of argument, relax people!) at $10/$20 I would have won $19,000 if there were no rake instead of $9,500. I happen to know (don't ask how, it's complicated) that the actual rake taken at $10/$20 is about 1.25 times as much as at the $5/$10 games even though the stakes are twice as high. So instead of paying $12,054 in rake I would have paid $15,067. Those of you who are good at subtraction would be able to tell me that $19,000 minus $15,067 is $3,933 which is a great deal better than -$2,500!

Those of you who are really astute have probably also figured out that if I paid $15,067 in rake I'd make quite a few more points (in the same number of hands) as well. More money and more points! Jackpot! Right!? This looks perfect!

Uh oh...I sense a but coming!

BUT (it's a very big but so I put it in caps) the players are better at $10/$20. I think. At the very least they should be. The real question is how much better are they and what are my chances against them. Now that I've actually sat here and worked through the numbers it seems stupid not to give it a try.

On a related note I felt like taking some bigish risks today so I jumped into three 6-handed $15/$30 games. That sounds like something a professional poker player should be doing instead of playing for these stupid tables scraps! I played about 300 hands in about 45 minutes and ended up winning about $225. At one point I was down about $700 and I have to admit that those games might be a little too tough for me. At the very least they'll take some tactical adjustments since they are SUPER aggressive.

For now my plan is to play a mix of $5/$10 and $10/$20 games and track my results in each. I'll keep you posted on the results.

A little over 5% of the way there

I've been struggling with both the quality of my play and my hours in the past week or two. 24 days into the year I've earned 51,500 of the 1,000,000 points I'll need by year's end. I'm certainly behind pace, but not dramatically so. I expect to end the month with between 70,000 and 75,000 points (83,000 would be on pace).

The bigger problem is I'm having a hard time breaking even. It's taken me about 48,000 hands to earn the points I have so far and I've lost about $2,000 in the process. Of course I have cleared two $1,500 FPP blocks so I've actually made $1,000. Not enough to pay the bills by a long stretch, but better than zero.

The good news is $2,000 over 48,000 hands amounts to about -4.2 cents per hand. It's not going to take a drastic improvement to make up that difference. It amounts to winning one more average sized pot every 1,000 hands or saving one bet (or making one extra bet) about every 250 hands.

I've been trying to do some serious critical thinking about the plays that I've been making and I feel like I'm making strides in the right direction. What's driving me crazy is I've had 4 or 5 instances where I've spent all day playing solid and having small fluctuations and then all of a sudden I drop six or seven hundred bucks in a span of 10-15 minutes. Not only is that money gone, but (not surprisingly) it's hard to get back into the frame of mind that every $5 and $10 bet is critical and precious.

Hopefully I'll get the ship righted soon. If I can have a few $500 days in a row or one $1,000-$1,500 day I'll feel just fine about how I'm doing so far. I'll try to post at least one more time before the end of the month.

Why Not Just Quit Up $600?

In response to my last post where I mentioned that I was ahead $600 after a few minutes "Jennifer" who could be one of about 17,000 Jennifers that I know commented "Here is a question for you: if you start out the day and find yourself up $600, why not quit for the day?"

The short answer is I need to play almost 1,000,000 hands this year in order to get the insanely lucrative bonuses that I want for playing a given amount in a calendar year. Another part of it is while I'd gladly take $600 a day if I could do it every day, I find myself losing well over $1,000 (and on occasion $2,000 or more) a few times a month and I need to have some big wins to balance those out. If I quit every time I was ahead $600 for the day I'd never have any big wins, end up working about 500 hours a year and probably only make 1/4 of the money that I do.

I actually wrote an article for cardschat.com about this very topic since it's something that almost all poker players struggle with when they start out. Here's what I wrote (it's a little more geared towards in person play than online, but almost everything applies to both):

When to Stay and When to Leave

I clearly remember the first time I played poker in a casino. I was 20 years old and I was heading to an Indian casino to play $3/$6 limit hold ‘em when my regular game was a 20 cent/ 40 cent game with my buddies. I made the trip with my first poker mentor who was my friend’s boss. His normal game was $15/$30 or $30/$60 and as we walked in the door he asked me “Are you going to play until you win or lose a certain amount or are you going to play for a given amount of time.” I was so terrified and excited by the anticipation of playing in such a “big game” that I really didn’t have any clue what to say. But after a minute I replied “If I get to the point where I’m ahead $100 I think I’ll get up.” To my credit $100 would have increased my bankroll by 50%, but I was still making a mistake that many players make. You want to play hours not results.

We’ve all been guilty of using the “hit and run” or “stop win” strategy. After jumping into a game and picking up a few quick pots, it can be tempting to lock up that profit and go do something else, but there are a few reasons why you should keep playing. The first and most important reason is it’s much easier to play your best when you’re winning. Generally, you’ll be more patient, more confident and probably be having more fun. No one is 100% tilt proof and most of us have some significant trouble keeping out emotions in check. It’s much, much easier to stay on track when you’re ahead as opposed to behind.

Furthermore winning is a sign that you’re in a game you can beat. Of course if you’ve just sat down and made two full houses and a flush in the first five hands then who knows. But if you’ve been playing for two or three hours and have significantly more than you started with then it’s more likely that you’re in a good game than a tough game.

On the other hand, if you’re losing, it’s easy to convince yourself that making plays that you know deep down are losing plays aren’t so bad. When you’re losing it’s harder to stay patient, losing is never fun, and you might be in a game that you have little chance of beating.

The same players who tend to hit and run don’t like to call it quits when they’re losing. We’ve all thought to ourselves “If I could just get even I’d leave this game in a second,” but you don’t want to play for hours and hours longer than you’d planned in a quest to get even for that one session.

The best thing to do is decide about how long you want to play and play for about that long. You don’t need to say “I’m going to play for exactly 8 hours today” and quit the second those 8 hours are up., but if that’s your plan you shouldn’t leave after 4 hours and shouldn’t stay for 12.

Of course, there are a few exceptions. The first one is while you don’t want to set a limit on your wins, setting a limit on your losses can be a good idea. My personal threshold when I’m playing limit hold’em is 50 big bets. While it’s very rare that I find myself down that much, when it happens I know that I won’t be in a state of mind to play my best and I’m better off calling it a day. If you’re more tilt prone, 35 big bets might be a better guideline. The key is you don’t want to bury yourself so much in one session that it takes you several great winning sessions to dig yourself out.

Another exception is when you’ve been on an extended losing streak. No matter how skilled, every player runs into some significant losing streaks and sometimes it feels like you can’t win no matter what you do. If you’ve been getting killed for a string of sessions in a row, sometimes it can help your state of mind to book a win.

You might also push the limits of how long you’re willing to stay if you are in a fantastic game. If you’re just about to leave and all of a sudden one of the worst players in town sits down with two of his equally skilled friends, they all order a shot of tequila and tell you about how they just hit it big betting on a horse race then it’s time to call home and say you won’t be home for a while. On the other hand if you feel irritable, you have something on your mind or like you just can’t play you’re best for whatever reason, then leaving early should be something to consider.

While there are a few exceptions, you’re best bet is playing hours not results. It would be great if we could only play when we’re ahead, but playing while you’re behind is part of the game. Don’t sell yourself short and leave a good situation too early and don’t bury yourself with such a big loss that it takes you weeks to recover.

What happened to me in my first trip to play $3/$6? It turned out the decision on when to leave was easy. When I ran out of chips and opened my wallet only to discover there wasn’t any money left, they wouldn’t let me play anymore.