Quote:
Originally Posted by mike1270
i have been playing/coaching for a living for a little over 4 years now both live and online - hear are a few thoughts that come to mind for you to consider
i went "pro" when i got laid off too but i was already making more with poker than my job so it wasn't too hard
30 buyins might be OK as long as you have at least 1 year of living expenses in addition to your 15K
i like to take my "real winrate" to determine risk of ruin and determine needed BR. i figure my monthly nut, number of hours played and back that out of my actual WR(ie i make 60/hour but i know i will be spending half of that money on my bills so i use 30/hour as my WR for BR management decisions/calculations)
your spending(BR depletion) is a HUGE factor that most get wrong!
since i am on the BR issue - WR and spend rate are the critical factors so always work to improve your WR and control your expenses
grinding 40/hr per week is not the same as playing poker 10-15 hours per week - more stress, more sitting on your ass eating crap food, more exposure to germs, more nights away from wifey ... pickup a copy of Stress for Success by Loehr to help with this issue
don't ever lend money to poker players/gamblers!
on the sample size - since you don't have one you have to know why you are winning. if you understand why you are beating the game, see others mistakes, and keep working to improve your game you can feel confident that you are a winning player - all of this takes brutal self honest which isn't easy
can it be done - yes
is it worth doing - ?
Poker is the best part-time job but doing if full time is completely different
GL on the felt
Yes, I just discovered this myself. When using risk of ruin calculators like this one.
http://www.reviewpokerrooms.com/poke...uirements.html
You need to factor in your monthly nut which makes a HUGE difference and also if you think hmm I make $20/hour long term winrate and and my monthly nut is 2k then I will play 100 hours per month and be fine. That will raise your risk of ruin through the roof.
Lets take the example above and say winrate $20/hour with 2k/month nut and standard deviation of $180/hour. we will say its 1/3nl.
Well before taking into account your monthly nut a BR of $3730 would get you a 1% ROR and $4291 would get you .5%.
Now lets say same thing but factor in you monthly nut. lets say you play only 110 hours per month, so 2,000/110=$18.18/hr of your $20/hr going to bills. So your real WR is $1.82/hr and now a 1% ROR need a 41k BR and .5% needs a 47k BR.
But now lets look at the importance of putting in the hours to build your BR as you go and say 160 hours a month. So 2000/160=12.50. So now your true WR is $7.50/hr. And now a 1% ROR would only need $9947 BR and .5% would only need $11,444 BR. Big difference!