I just read about Chris “Jesus” Ferguson and his 0 to 10,000 quest. For those who don’t know, Chris is a pro player, endorsed by Full Tilt. He went on a quest to turn a $0 bankroll into $10K and recently achieved it.

To accomplish this, he played in freerolls to make startup cash, then played tourneys and cash games to build his bankroll.

That is super cool and he proves that a good player can turn nothing into alot. But, whats even cooler is what i read on his bankroll management. Most of us can play the game, but to be profitable bankroll management is ESSENTIAL. Here are his guidelines (from fulltiltpoker.com):

– He never buys into a cash game or a Sit & Go with more than 5 percent of his total bankroll (there is an exception for the lowest limits: he is allowed to buy into any game with a buy-in of $2.50 or less).
– He doesn’t buy into a multi-table tournament for more than 2 percent of his total bankroll, but he’s allowed to buy into any multi-table tournament that costs $1.
– If at any time during a No-Limit or Pot-Limit cash-game session the money on the table represents more than 10 percent of his total bankroll, he must leave the game when the blinds reach him.

These guidelines may seem restrictive to some of us, but seeing what Chris accomplished using them is truly amazing. Im wondering his buy in for cash games…seeing that if his total on the table reaches more than 10% of his bankroll he would leave, i’d assume his buy in would be 5% of total bankroll. So if you have 200 bucks, buying in for 10 bucks and cashing out at 20 is probably the move.

Borrowing from Chris, my new philosophy on cash games is if i ever get up more than 50% of my buy in, i leave. So if i buy in for 40 bucks and get up to 60, i leave, bank the 20, and play elsewhere…unless i have the table pinned, but even then i may leave and come back. Too often, especially online, you catch a great hand only to get outdrawn…i find that people online will chase ANYTHING…case in point:

I was just playing, had A9s in early position, reasonably passive table so i call. The only other caller is the BB. Flop comes Ac Jh 8h. I bet pot, call. Turn is 6c. I bet pot again, call. River 3c. Check to me, i check (why did i check here? Ask me, or Antonio Esfandari – see my last post). BB shows Q10c, for a flush. So, he called pot with inside strt draw, and back door flush (4-6 outs…about 1 in 11). Called pot again with flush draw and inside strt (about 13 outs…1 in 4 to hit). So, he put about 20 bucks into the pot with at best a 1 in 4.

My point is, even if you’re catching and crushing, you can always get sucked out by some calling station and lose some cash. Note to self, leave when you’re up.

Cashing out ahead,
John

I just finished Antonio Esfandiari’s book “In The Money”. Overall I loved it and will read it again…it reminds me a bit of the Andy Bellin book ‘Poker Nation’ from a tone perspective. Antonio and company aren’t near the writer that Andy Bellin is, but it shares some of the tone in the stories. After reading it you’ll definitely want to hang out with Ant, Phil Laak, and the rest of his crew.

This book is great for those tight aggressive or even tight passive players. It has a lot to do with being more aggressive, how and when to do so. Also, which is the key of the book, Antonio instructs you to question alot of things you may take for granted at the table. For instance, when deciding whether to call or raise – he (correctly) advises you to think about why. If you raise, what will your opponent call you with? In some cases you’ll ONLY get action if you’re beat, in which case check or call and take a free card instead of risking a reraise.

Firing bullets: perhaps the most important message. He says something like ‘amateurs will fire a single bullet, where pros will keep firing’. What this means is alot of people will miss a flop and throw out a bet. If they miss the turn tho, they’ll usuall check. A better player who smells even the least bit of weakness will fire another bullet…alot of folding happens on the turn.

I think the above is one of the keys i took from this book, and have been able to incorporate into my style of play. Specifically adapted, ive learned that betting the flop is good only if i intend on betting more on the turn and/or river. Also, i analyze every bet more, and try to determine what that bet is buying me…a chance to win, information on my opponent, or building the pot.

Antonio also talks of the importance of position, and how to use it to your advantage. Alot of books talk about this, but there are some cool spins on position, and the discussion of heads up play regarding position is very good.

In sum, read this book twice. Its the kind of book where you have to jump online or hit a poker room and try things out. Ive been surprised at how many pots ive been scooping up just by changing my state of mind and thinking about every bet. This book isnt for the absolute beginner, but more for the average to good player who wants to add a bit to their game. Also its a good look at what all of these hyper-aggressive players are thinking.

Now if i could only figure out how to party with these guys, you all may not hear from me for a few years 🙂

I raise.

Im sitting here and lamenting a mistake i made in a recent poker tournament, and figured it was worth mentioning. I think theres a transition from being an average player to becoming a good player or even a very good player. It has to do with your skill level of course, but more importantly the amount of risk you’re exposing yourself to.

Heres the situation: Im in late position holding KK. Blinds are 50-100. UTG raises to 500 (a good raise), 2 callers, now its my turn with one player left to act. My first instinct is to smooth call and trap…if a K or less hits the board (ie, no ace) I can pummel everyone. My second instinct is to raise big…theres already 1250 in the pot.  

So i made a mistake…i smooth called. In hindsight, i shoudl have raised it to at least 2,000. Most likely, unless im up against another big pair, everyone folds. AA would call or possibly reraise, something like QQ or JJ or AK on a weaker player may push here.

The hand turned out terrible for me…board flops Q J 2. Now im thinking im in great shape. BB bets out 2000. I figure “nice, hes on AQ” and bump it to 8K total. He instantly puts me all in for my other 4K in chips, i happily call. He flips a set of 2s. I lose.

So what went wrong? I played that hand as i would have 5 years ago, not as i do now. Recently my style has been tight-aggressive, even tight-hyperaggressive. I overbet, it pisses people off and makes them call me. This time i didnt, and it cost me the tourney (or at least a chance at the money).

So, my point in this rant is the more you try to trap, often the more risk you’re exposed to…especially with an overpair. Save your traps for sneaky straights, flushes, and sets. WHen you have a big pair, make people fold…don’t slowplay big pairs.

Raise on.