Monday, November 30, 2009

November '09 Recap

Total Buy-ins: $73,339
Total Prizes: $48,567
Total Profit: -$24,772
ROI: -33.78%
Hours Played: 118
Profit/Hour: -$209.94

Daily Profit Graph:


Three Biggest Cashes:

1) $15,130 (Nov. 9th, 1st, Stars $33r PCA Satellite)
2) $14,833 (Nov. 14th, 2nd, Stars $55r)
3) $2,938 (Nov. 7th, 9th, Tilt $322)

"I can't wait for it to end," Hamels said of his tumultuous season. "It's been mentally draining. ... You can't wait for a fresh start." I can sympathize.

I woke up yesterday (Sunday) and didn't feel like playing. There was a $1k Bellagio Five Diamond prelim today and the same thing happened. It seems like I'll end up playing somewhat sparingly for the rest of the year and look to start over in Jaunary. Having played close to 1,400 hours already this year, I don't feel bad about lacking the drive to grind out the rest of 2009. Not playing might be a better idea than you would realize, because my yearly profits are somewhere around $14k at the moment. Ignoring the hilarity that is my $10/hour wage, there's another issue with being close to down for the year. When I win, the IRS takes a cut. When I lose, I don't get a sympathy rebate from the government. If I have another bad month and lose something like $40k, I'm on the hook for the entire $26k I lost in 2009. The closer I get to breaking even, the less I should be playing. However, I have a lot of expenses and other things I can write off this year, which means I need to clear a certain amount of profits to maximize what I can keep come tax time.

This stuff was a lot less complicated last year.

Saturday, November 28, 2009

Studying, Playing, Losing

In the week following my last post, I buckled down and spent a lot of time studying to improve my tournament game for the first time. I joined a training site and watched about a dozen videos from three players who have good results but noticeably different styles. One was on the aggro side, one was tight to the point where he missed some pretty easy +EV spots, and the third seemed to incorporate a nice balance between the two extremes. That style is how I feel most comfortable playing online, and I was hoping to pick up on a few things that I was flat out missing or going about the wrong way. As it turned out, it basically felt like I was watching a video of my own play.

The aggro player (achen) made a few plays that I can't disagree with, but certainly choose to avoid when I'm playing. Things like jamming J5 suited with eighteen blinds over a late position raise and call, flatting raises in early position with AJ and KQ type hands, and calling a button shove with Q4 suited with effective stacks of ten blinds. Are those plays correct and I'm missing out on equity by not making them? I don't really think you can definitively say so one way or the other. Those are the kinds of things that the more aggro players do that allow them to get more action when they have hands. Personally, I'm not a huge fan of pushing edges that might not even be there.

The tight player (SirWatts) made a few videos that surprised me. His game seemed like it was more suited for a few years ago before people knew about late position and blind vs. blind shoving ranges. He open folded some hands that were definitely correct to shove and generally played a much more conservative game than the vast majority of MTT pros. I can't say his style doesn't work, because he's made a ton of money using it and was actually the one person to have a better combined POY+OPOY ranking for '08 than myself. Still, it was weird seeing him fold hand after hand that I would consider to be pretty typical opens or shoves.

Charder30 was the person whose videos I was most looking forward to watch. He's been very successful both live and online, has consistent results, and plays a style similar to mine. He doesn't make a habit of spewing or making absurd plays like some of the other high profile winning MTT players, and I'd be surprised if he misses many correct shoves or resteal spots in any given session. In watching his videos, I was surprised to see how similar our approach was to almost every hand. His opening ranges in the various stages of a tournament were close to mine, and I can't recall a single hand that I would have played completely different. In short, there wasn't much I saw to suggest that his impressive results are the result of him doing things significantly different than myself.

Having spent a good amount of time watching videos last week, I'm pretty sure there isn't all that much for me to learn from them going forward. I still want to join a few other sites and get as much out of them as I can, but as far as tournament strategy goes, I can't identify any glaring things I've been doing wrong. I even spent a few hours going over my $55r hand history with someone who has a very good grasp of tournament poker and there were only a select few hands we disagreed on. None of those were of particular importance to overall MTT strategy.

With renewed confidence and actually looking forward to a Sunday for the first time in a while, I got ready to grind last weekend and hoped for good results. Things couldn't have gone worse. A few hands into the first two tourneys of the day, my internet connection went out. It took me a half hour of fiddling around to realize it wasn't going to fix itself, and I was stuck playing on my laptop for the entire day. Not getting to use my desktop isn't the end of the world, but it limits my ability to multitable and definitely causes me to enjoy playing a full schedule less. When the day had ended, I had two small cashes and an $8k loss in the books. I did manage a deep run in the $75k on Tilt, but made what turned out to be a terrible call based on a timing tell that I was almost certain meant my opponent had AK (he had KK).

Monday was the Venetian Deepstack $2,500 main event. I finished day one sixth in chips out of 82 remaining players. I was very happy with how I played on the first day. On day two, I returned with almost 170 blinds and a great table draw. That was the last good news of the day. 27 got paid and I finished 32nd. Apart from one pretty awesome bluff I pulled, the rest of the day consisted of me getting my money in ahead and losing. It was painful. Perhaps the most telling hand of the day was when a four was exposed before my action in the cutoff. I opened with A4o and the big blind defended. He check/called two streets on a 2353 board with A7 (no flush draws), and binked one of the two remaining fours on the river to chop the pot. On my final hand, the button open jammed over thirty blinds from the button with K8 to beat my AQ.

I haven't played since then but it seems Mark was able to fix my computer which means I'll be back on the grind Sunday. If I make it through the day without a bunch of soul crushing beats or my computer inexplicably losing internet multiple times I'll consider it a success.

After the Venetian tournament, I was in a pretty miserable mood. The structure for the tournament was great, which means I played about twenty hours just to bubble on multiple bad beats. Still, Thanksgiving was around the corner, and I didn't want to let poker ruin the holiday. Looking for some way to explain the past year given that I still can't identify what I'm doing wrong, I conducted a quick research experiment. I took the pocketfives.com rankings from just over a year ago and looked at all the players' ROIs for 2009 on both Stars and Tilt. Overall, I found numbers on 93 people (including myself), and was pretty surprised at the results.

Only eight players on the list had ROIs of 50% or better on both sites. Ten players had negative ROIs on both. Ten! Currently, I'm at 23% on Stars and -17% on Tilt for 2009. I assumed that would be near the bottom of the list, but there are a number of very good players with similar stats. I never thought it was possible for a good player with decent volume to break even for a full year let alone lose money, but it appears that online MTT variance is just that insane. If I told you my stats this year resembled those of eisenhower1, dipthrong, tomgus456, mendieta19, johnnybax, purplepils99, bkice, and anbessa9, you'd probably assume I was having a good year without checking anyone's stats. As it turns out, some of those guys aren't even breaking even. That seems crazy to me. Maybe it really is extreme variance that's causing me to be a few bad Sundays away from having a losing 2009.

I'm not willing to attribute all my struggles to running bad, but I've never been more confident that variance really is crazy enough to cause a good player to put up poor results for such a long period of time. As I said earlier, I still plan on watching videos and working to improve my game while I'm not playing. I'm also well aware that I play worse when I'm frustrated and lacking confidence, two things that can be tempered by reminding myself that I'm a better player now than I was when I was booking huge months regularly last year.

Tournament poker is not for the faint of heart. I'm lucky to have avoided this side of variance until after experiencing what it feels like to run better than just about everyone else for an extended period of time. I didn't realize how lucky I was last year, but I certainly won't take it for granted if I can catch another one of those year-long rushes again. Until then, it seems like all I can do is let variance kick me around and make sure that I'm plugging any leaks by reviewing hands and watching videos from time to time. Hopefully it ends up being that simple.

Monday, November 16, 2009

A New Approach

Sometime in the middle of this year, when my downswing was approaching six months and $200k, I seriously entertained the thought of joining a few training sites for the first time. It wasn't something I had really considered before for a handful of reasons, the most obvious being that I had been killing MTTs for the majority of my career as a tournament pro. If it ain't broke, why fix it? Even though I don't have a close circle of poker playing friends to discuss things with, it seemed unnecessary to watch videos and study other people's play when I was doing better than most of them at the time. Nothing about that thought process seemed out of the ordinary.

When I started to really struggle and my confidence suffered, I was still hesitant to do much more than work through my issues. Playing through a downswing is often times the best thing a poker player can do, but that approach loses its effectiveness when the downswing is the result of one's own ability rather than only variance. As I've learned, the most likely outcome of trying to play through a rough patch while making suboptimal decisions is more of the same. I'm not winning and I don't know why, but I'm almost positive there is a reason other than bad luck. Not studying, crunching numbers and actively trying to plug leaks and improve is reasonable when things are going well. After a year of breaking even, I'm no longer too proud to admit that I need to make a serious effort to improve my tournament game. It used to seem ridiculous to even consider watching videos of people that I thought I was better than. Now that my opinion of my own game has changed, I'm willing to see what I can learn from my peers.

Ideally, I'll spend the next few months playing live more, online less, and using a good chunk of my free time to thoroughly evaluate and better my game. There aren't any big events online until February, and I like the idea of studying instead of grinding the same handful of small tournaments during the week for what has become a barely positive expectation. I haven't decided on which training sites to join, although I'm willing to take my time to explore all of them to find as much useful information as I can.

In between all of this stuff online, I have a relatively busy schedule of live poker coming up. There's a $2,500 at the Venetian next week followed by another Bellagio series. Lower buy-ins for the prelims should help to increase the field sizes, which is something the Bellagio has needed to do for a while. I also want to keep my live game sharp for the PCA in January, which I'll be attending for the third straight year after winning a package last week. If I haven't played live for a while, I tend to feel somewhat uncomfortable at the table for a little while. I don't want that to happen in a $10k, and I certainly want to avoid that situation for the $25k WPT Championship in April that I'll be playing. Throw in the '10 WSOP a few months later, and I have plenty of reasons to work on my tournament game and keep it sharp through next summer. However, if my results haven't changed and my efforts to get better end up being in vain, I doubt I'll continue playing tournaments regularly going forward. Hopefully it doesn't come to that, because being humbled by a bad year is bad enough without going broke in the months following.

Two days ago, I took second in the Stars $55r for $15k. I was going to upload the full hand history to Google docs in case anyone wanted to check it out, but more because I liked the idea of documenting my play in a tournament right before I set out to overhaul my game. Google docs was giving me problems, so I'll just paste the it at the end of this blog. Who knows, maybe a few months down the road I'll look back at that HH and identify a number of things that were wrong with my execution. Actually, I'm really hoping that I'm making some obvious errors. If it is that simple, it shouldn't be too hard to tweak my play and get back to where I want to be.

Before I clutter this page with a thousand hands, here are a few graphs I made earlier today. They don't really fit in anywhere on the blog, but they certainly help show how my results in 2009 are almost definitely the result of more than bad luck.

Live MTTs (2008):


Live MTTs (2009):


Online MTTs (2008):


Online MTTs (2009):


Apparently this site won't let me upload a full hand history without breaking down. Oh well. If anyone is interested in the HH or wants to go over some hands, let me know.

Saturday, October 31, 2009

October '09 Recap

Total Buy-ins: $30,619
Total Prizes: $23,754
Total Profit: -$6,865
ROI: -22.42%
Hours Played: 48
Profit/Hour: -$143.03

Daily Profit Graph:


Three Biggest Cashes:

1) $10,115 (Oct. 13th, 1st, Tilt $117)
2) $7,174 (Oct. 18th, 8th, Tilt $163r)
3) $2,647 (Oct. 27th, 22nd, Stars $1k)

I spent most of October visiting family, watching the Phillies and generally avoiding playing poker. That will probably be the case until the end of the World Series. I'm cautiously optimistic about the Phillies chances at this point, although we don't stand a chance if Cole Hamels can't get his act together before tonight's game.

Sorry to those of you who have been expecting anything in the form of poker content over the last month. I only played six days in October, there was very little worth writing about, and as some of you have probably noticed by now, the quantity of my posting tends to be highly correlated to how I've been running. Writing about losing isn't particularly fun. 2009 is almost over and I'm up... wait for it... $39k for the year. Last year, I played fewer hours and made roughly eighteen times that amount. Variance or regression in my ability? I'm still working on figuring that out.

Go Phils!


Cliff Lee Who Cares Catch - More free videos are here

Sunday, October 18, 2009

Owned

Full Tilt Poker Game #15433266251: $200,000 Guarantee (Rebuy) (108515420), Table 5 - 5000/10000 Ante 1000 - No Limit Hold'em - 23:08:10 ET - 2009/10/18
Seat 2: Jack4339 (155,762)
Seat 3: Hesperides (414,718)
Seat 5: DDBeast (279,732)
Seat 7: laura645 (504,938)
Seat 8: bmf823 (432,808)
Jack4339 antes 1,000
Hesperides antes 1,000
DDBeast antes 1,000
laura645 antes 1,000
bmf823 antes 1,000
DDBeast posts the small blind of 5,000
laura645 posts the big blind of 10,000
The button is in seat #3
*** HOLE CARDS ***
Dealt to bmf823 [3s Ks]
bmf823 raises to 21,212
Jack4339 has 15 seconds left to act
Jack4339 folds
Hesperides folds
DDBeast folds
laura645 calls 11,212
*** FLOP *** [3d Jd 6h]
laura645 checks
bmf823 bets 30,000
laura645 calls 30,000
*** TURN *** [3d Jd 6h] [Qs]
laura645 checks
bmf823 has 15 seconds left to act
bmf823 bets 65,000
laura645 has 15 seconds left to act
laura645 has requested TIME
laura645 calls 65,000
*** RIVER *** [3d Jd 6h Qs] [Ad]
laura645 checks
bmf823 bets 140,000
laura645 has 15 seconds left to act
laura645 has requested TIME
laura645 calls 140,000
*** SHOW DOWN ***
bmf823 shows [3s Ks] a pair of Threes
laura645 shows [7c 7h] a pair of Sevens
laura645 wins the pot (522,424) with a pair of Sevens
*** SUMMARY ***
Total pot 522,424 | Rake 0
Board: [3d Jd 6h Qs Ad]
Seat 2: Jack4339 folded before the Flop
Seat 3: Hesperides (button) folded before the Flop
Seat 5: DDBeast (small blind) folded before the Flop
Seat 7: laura645 (big blind) showed [7c 7h] and won (522,424) with a pair of Sevens
Seat 8: bmf823 showed [3s Ks] and lost with a pair of Threes

That was with ten left in the Tilt $150r today. I was 3/10 at the time and ended up finishing eighth, enough to put me up $69.42 for the day.


I've only played four days this month and probably won't play more than two or three more sessions before November. There hasn't been much to write about lately, although I did win a small tourney last week to keep me close to even for the month. Just another couple of weeks in the life of a break even MTT pro.

Friday, October 02, 2009

September '09 Recap

Total Buy-ins: $127,943
Total Prizes: $114,501
Total Profit: -$13,442
ROI: -10.51%
Hours Played: 224.5
Profit/Hour: -$59.88

Daily Profit Graph:


Three Biggest Cashes:

1) $22,468 (Sep. 1st, 1st, Stars $109r)
2) $10,175 (Sep. 16th, 3rd/chop, Stars $109)
3) $7,177 (Sep. 7th, 6th, Stars $109r)

September kicked my ass. By the end of the month, I felt tired, frustrated, discouraged and without confidence. I'm mostly over it now, but the effects of such a draining month are still lingering. My drive to play is almost non-existent. I no longer consider myself an elite MTT player, even considering how much I've accomplished in the last few years. If I had to play a full schedule for a week, I'd probably be miserable and five figures poorer when my last session concluded. Tournament poker is often formulaic enough where a lack of confidence isn't enough to cause me to get out of my comfort zone and play poorly. However, that lack of confidence makes playing far less enjoyable, something which lends itself to losing focus and an overall feeling of apathy. When I find myself with that kind of attitude towards poker, the solution is obvious. For the near future, I'm going to play very infrequently. Maybe I'll play Sundays or the occasional weeknight, but I'm looking forward to not grinding for a few weeks.

Wednesday, September 23, 2009

WCOOP Recovery

I'm stealing my friend Shane Schleger's most recent blog title, mostly because I can't think of anything better but also because I liked what he wrote. The first few days post-WCOOP have been pretty typical in the aftermath of a big tournament series. A lack of motivation, sleeping late, trying not to think about missed opportunities, etc. Here's how Shane put it:

"It's a strange and elusive relationship between results, confidence and performance, which are often not directly related to each other but never completely separated, either.

In any event, after almost three weeks of playing an average of 11 super-focused hours of poker a day, I feel deflated again, very similar to how I felt immediately after the WSOP."

That sounds pretty close to my thoughts at the moment. I'm not burnt out on online poker, but a month of hard work with negative results is enough to throw a wrench in my plans. I'm not playing much following the WCOOP, and a lot of that is because my goals of banking a huge month to help offset the rest of 2009 are largely unattainable. I'm in for over $120k this month and can't even claim to have made a dollar in profit. That makes it difficult to sit at my computer and grind a bunch of relatively small tournaments when anything but the top few spots will be irrelevant in my monthly totals. I'm aware that such a mindset is detrimental to a tournament player in the long run, but I don't fault myself for having these thoughts after bad stretches during the WSOP, WCOOP and the occasional FTOPS.

Speaking of which, it's been over a year since I had any kind of decent run in any of those series. After my big FTOPS in August last year, I've been all but shutout since. My best finish in this year's WCOOP was somewhere in the 70s, a tourney which ended abruptly when I shoved KQo into the table donator's aces. I'm not even sure I've cracked the top 100 in any FTOPS tournament this year. People who play MTTs for a living rely on a couple big scores each year, and I haven't found myself in many situations where I'm on the verge of a huge cash. Last year, my five biggest cashes totaled $750k. That same figure for 2009 is still under $300k.

It feels like I haven't played live poker in forever, and I'm going to change that later in the week. There's a series at the Commerce that I had no plans of playing, but the $2,500 main event is timed perfectly to get me out of the house, hang out with my brother in LA for a few days, and force me to get away from the computer for a little while. Unless I make the final day, I'll be able to get back home in time for the Sunday schedule as well. In stark contrast to how I felt after the WSOP, I think a few days of live poker will be a nice change of pace and help me refocus once I get back online.