Posted Tue Oct 19, 2004 2:26 am GMT by doublebubble
I have been playing on-line for 3 years now and while make a small profit playing, I would like to start making alot more (who wouldnt)I made a decision 2 weeks ago to try and turn my game from purely just enjoying it to a potential good 2nd income. In the last 1.5 weeks I am $1,100 in profit but still cant decide what should be played to make the most money.
Mini tourneys, multi table tourneys, one on ones, or cash games. I have made most of the $1,100 in cash games ($5/$10) but find that playing limit poker can be the most annoying because you cant bet some people out of the pot and the amount of times I want to put my fist through the PC when another joker hits a flush on the river is increasing. Do I need to step up into a higher stake game or try one of the other games as mentioned above to make the money
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Posted Tue Oct 19, 2004 7:12 am GMT by Dave B
For consistant earnings, I have found that ring games or SNGs are the way to go. 5/10 is where I play, I warn you against 10/20 unless you have a little more or a willing to loose $500 quick. At least at Party Poker, 10/20 is an entire new game vs 5/10.
Posted Tue Oct 19, 2004 8:04 am GMT by Nut Flush
| Quote: | | ...but find that playing limit poker can be the most annoying because you cant bet some people out of the pot... |
Have you tried no limit ring games?
Posted Tue Oct 19, 2004 9:56 am GMT by doublebubble
have thought about no limit ring games, as that could get away from the players that are chasing flushes and cant be rasied out of the game, but that is a different ball game. If you were playing a 5/10 game what bankroll would you start with. Dont want to put it all in only for someone to go all in with a huge bet that I can cover but could also wipe me out
might have a go tonight on the no-limit and see what happens.
Posted Tue Oct 19, 2004 12:20 pm GMT by Nut Flush
Try one of the smaller NL tables. Not sure where you play, but most sites have games like .25/.50 for the blinds and a max buy in of $25 or so.
Posted Thu Oct 21, 2004 10:53 pm GMT by alphakenny1
yea defintetly try no limit. start low for example .25/.50 blinds and then move up to the higher blinds.
Posted Fri Oct 22, 2004 3:58 am GMT by doublebubble
tried no limit , but found it painful as you couldnt play a 5 table max, so had to contend with 10 players. I know patience is a virtue but the games take so long. (thats on paradise poker)
Will give it another go tonight though
Posted Sat Oct 30, 2004 7:42 pm GMT by Dias
partypoker has 6 max NL 25 max buy-in games.
Try them out.
Posted Sat Oct 30, 2004 8:52 pm GMT by wEbMaStEr
Yeah forget tournaments if you're looking to make a second income, sure you win 1 tourney and you're ahead $2k but if you are not finishing in top 3, i'd say, twice a week, every week, then you aren't going to be making much and you're going to be spending a lot of time trying to get there.
Cash games or sit&go tourneys as DaveB suggests, altho again in s&g you are going to have to be consistant to make a profit. 1st place in a 1 table s&g generally pays out 4.5/1 so you have to be winning consitantly to make anything decent.
Cash games, well, i'm not your expert for that, but, $5/$10 NL you are looking to be sitting down with a stack of around $1000 just to be an average stack and not get bullied around too much, the problem is, you could potentially lose all of this on any one hand.
Limit you're looking to be sitting down with around $250 or so, but again, you're back to the not being able to raise players out of a pot scenario. Something i found extremely annoying at that level!! (I HATE limit! )
So to sum up, maximum profit can be achieved from MTT (if you are that good/lucky enough to be extremely consitant) NL could have huge swings in fortune for you. (by the way, i find that in lower than $5/$10 NL you are still getting limpers far beyond where you should, something to do with displacement/pyschology stuff) Limit can turn a decent profit for you without huge losses. S&G can also turn a good profit for minimal losses if you can be consistant.
Posted Thu Mar 03, 2005 4:32 pm GMT by mjg
I find that successful money management in poker is much like money management in trading stocks.
A good rule of thumb for trading a particular stock is never to put more than 2-4% of your equity on one trade. I find the same rule to be perfect for poker.
That said, the game is important too. If you like cash tables, you absolutely MUST have a large bank to weather the shitty streaks. The small blind cash games are worthless for loose players because bluffing doesnt mean a damn thing until you start playing the expensive cash tables. Usually everyone is calling and you're letting luck dictate your winnings.
Tight players usually fare much better on these tables, which requires a large bankroll to weather the bad streaks! Its also important to play large tables where you look at more free hands, while getting big pots when you win!
As you increase your bank, move on to larger blind cash tables....the games will get progressively tighter and you'll have to increasingly bluff to keep the calls coming on your strong hands.
Personally, I like the tourney's.
But again, limiting the risk of equity per tourney is important...we all have good and bad streaks...if you happen to hit a cold streak early and fail to place in top 2 positions for a few tourneys, your bank is pressured and your gameplay WILL be affected. In tourney's you must have nuts at times to keep the opponents in check and to really rake in big $$$ on winning hands.
I find my best play comes from tight play initially...letting opponents weed out a few people while maintaining a solid stack....
They will also catch on that you play tight and will allow you to steal the occasional pot when you suprise them with a double raise.
When the blinds get big, people tighten up and you can steal pots/blinds consistently when you have the stack to put the pressure on. Its usually just a matter of patience from there on out.
Using this method, Im able to place 1st or 2nd once every 5 games and also get a third place finish in too.
Slowly build equity...just like investing!!
Its admittedly tough to resist the higher stakes tourney's, but if you wait until each entry costs only 2-3% of your bank, you'll be able to manage losses.
Course, if you suck at poker, forget the above advice and invest in stocks instead!
Posted Tue Mar 15, 2005 12:56 am GMT by snoogins47
| doublebubble wrote: | have thought about no limit ring games, as that could get away from the players that are chasing flushes and cant be rasied out of the game, but that is a different ball game. If you were playing a 5/10 game what bankroll would you start with. Dont want to put it all in only for someone to go all in with a huge bet that I can cover but could also wipe me out
might have a go tonight on the no-limit and see what happens. |
I wouldn't ever want to play $5/10 regularly with less than $3,000 available for poker.
Posted Tue Mar 15, 2005 10:07 am GMT by Skribbles
| wEbMaStEr wrote: | Yeah forget tournaments if you're looking to make a second income, sure you win 1 tourney and you're ahead $2k but if you are not finishing in top 3, i'd say, twice a week, every week, then you aren't going to be making much and you're going to be spending a lot of time trying to get there.
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I'd have to disagree with you. I'm up a little over $9000 in the last two months with my winnings come straight from MTTs. 2 Wins and 1 4th. I sit at the cheap SnGs or low NL ring tables (.10/.25), make a little profit, then sit down in a $10/$20 buy-in MTT. My bankroll stay basically the same until I hit big and take one of these tournys. I've gotten fairly good at them where I can get consistantly close to the money everytime. But I don't play them to get in the money, I play them to make the final table minimum.
Grant it, I may have just had some lucky tournys but if I can win get top 3 once a month, I'll easily have over $1k in earnings. And to me, $1k a month is plenty fine for a steady 2nd income without risk my entire bankroll.
Posted Tue Mar 15, 2005 10:25 am GMT by Always_Bored
The key is also money management. You cant be cashing out your big wins and spending too much of your bankroll. You need to make sure you have enough to keep going before you cash out.
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