Sat down with my manager and CFO today for the annual Performance Appraisal.

Was not pleasant at all.

I estimate a greater than 55% chance that I will be fired from my job in the next couple of months.

*Sigh*

The problem isn't that you are overvaluing AAxx pre-flop. The problem is you are playing massively underrolled.

I used to play some reasonably soft $1/2/5 ($1000 max and no one ever bought in short) PLO games when I played for a living. I wouldn't have wanted to sit in that game without a $75k+ bankroll.

If you think you are overvaluing or unwilling to 3bet/4bet a reasonable AA hand in PLO you are simply playing scared money and/or have no idea about preflop hand values.

I'd assume with this line of thinking you are likely playing scared money post flop as well in situations where all you have is a bluff catcher in a heads up pot.

Seriously re-consider where you are going with this.

Also, your plan to play a 3 hour session once a week and earn $45,630 is just silly.

Assuming you play 3 hours a week for 52 weeks you'd need an hourly of $292.50 to achieve that.

Forgetting you are sorely underrolled for this game, if you strictly played the $5/10/20 I'd doubt that any but the best live PLO players in the world would ever come close to $150/hour especially if it plays shallow ($1000 max).

General rule of thumb in live play is that a solid grinder over a large sample will beat the games for 10bb/hour in a standard game, 15bb/hour in a game that is super super soft. You're edge in live PLO doesn't come preflop where people are gambling as hand values run so close together, your edge comes from playing deep stacked (200+ BB) in 3 bet pots with fish where you can abuse them post-flop.

Given this is PLO and you probably average 25 hands per hour, you are looking at playing less than 4000 hands in 2016.

There are plenty of 10bb/100 winners online that experience 100k hand downswings in PLO.

TL; DR - Do you have any clue what you're in for?

I don't mean to sound offensive, but more to save you from losing the $10k you've made so far...

LC, do you still play live cash these days, or are you committed to strictly grinding online?

Anyway, it sucks but I may have to quit my job and start looking for a new one. May hand in my resignation sometime later this month or early January.

So I'm likely back on the market but will probably be spending my idle time putting in regular sessions at cash games and can hopefully build a decent sample size from which I can determine whether poker in Sydney > my salary. Fwiw, I don't see my salary going over 60 - 65k p.a anytime soon.

Any advice/literature for someone in my position?

BAE, thanks for your comment (It's quite long so I will have to revisit it at some later date).

I've posted a couple of threads on SSPLO. Could you please have a look and help me out with them.

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Yesterday's Session: $126

Games: PLO
Stakes: 5/5/10

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Today's Session: ($-910)

Games: PLO
Stakes: 5/5/10

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Frank, where did you get your profit figure from?

What is your current hourly at the 5/5 holdem and PLO games there over how many hours?

Btw, it is insanity for you to be playing 5/10-20. Particularly PLO but HE too.

You are a beginner level PLO player who is playing a high variance game severely under rolled. Not to mention it is likely you will become unemployed. WTF are you doing?

I record my sessions in Excel. Haven't calculated my hourly for each game and don't plan to for the simple fact that I only have about 300 hours recorded.

Don't get me wrong. I don't have BS pipe dreams of making lots of moniez from poker or playing this full time etc.
This is recreational.

Agree with 5/10/20. I'm going to stay away from it for obvious reasons.

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Last Session: $1,026

Games: PLO
Stakes: 5/5/10

***

I didn't ask the question clearly enough....your profit goal of 45,630. Did you calculate that based on something in particular?

what are you buying in for at the 5/5 plo?

btw, I recommend poker dominator for tracking software. I started on excel too, but it is nice to be able to get a macro view of graphs and be able to break down win rates by game, location etc etc.

Thanks for the recommendation, I'll look into it.

45,630 is how much I make after taxes.

I buy in for $500. Sometimes a bit more if everyone is deep.

hey, Frank, do u think plo is profitable? i never play plo at the stars even if i play plo only on pokerstars. not very likly to have an huge edge over fishes in plo, and plo players r mostly tougher.

Handed in my resignation today.

Time for a new job and a fresh start.

nice life subbed...

I'm also a sydney star reg man. I play mostly lower stakes than you (1/3 PLO, 2/3-2/5 NL), because I don't work and rely fully on my grind. I also grind alot online man. Would be nice to see you and chat sometimes. I have a PGC myself and I take photos of stack to keep my updates.

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Last Session: ($-673)

Games: PLO
Stakes: 1/3 & 5/5/10


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Subbed gl what industry where you in? And why did you resign so soon?

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Today's Session: $145

Games: PLO
Stakes: 5/5/10

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Last Session: $2,095

Games: PLO
Stakes: 5/5/10

**

Saw Sicario today.

What a way to end the weekend.

Full Tilt Poker $500/$1000 Pot Limit Omaha Hi - 2 players

Patrik Antonius (BB): $94999.00
Ziigmund (BTN/SB): $404981.00

Pre Flop: ($1500.00)
Ziigmund raises to $3000, Patrik Antonius raises to $9000, Ziigmund calls $6000

Flop: ($18000.00) 3 J 4 (2 players)
Patrik Antonius bets $15000, Ziigmund calls $15000

Turn: ($48000.00) 9 (2 players)
Patrik Antonius bets $48000, Ziigmund calls $48000

River: ($144000.00) 8 (2 players)
Patrik Antonius bets $22999 all in, Ziigmund calls $22999

Final Pot: $189998.00
Patrik Antonius shows A 9 A 2 (a pair of Aces)
Ziigmund shows 9 7 T 6 (a straight, Jack high)
Ziigmund wins $189997.50

lol, guessing ziig thought PA was FOS PF and on the F/T....

Been receiving some interest with regard to my recent job applications.
Got a couple of interviews lined up already

The future is looking bright again..

*huge sigh of relief*

Why exactly $45,630 ? gl

My C-game is killing my results.

I suspect this is a result of my unstable mental game at the moment.

Reading Tommy Angelo's book in order to identify some leaks in my mental game that I may be overlooking.

Should be down -$8,000 over the last four sessions. Managed to get lucky and get out of jail every time.

Last four sessions:

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Session 1: $515

Games: PLO
Stakes: 5/5/10

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Session 2: $660

Games: PLO
Stakes: 5/5/10

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Session 3: ($-502)

Games: PLO
Stakes: 5/5/10

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Session 4: ($-550)

Games: PLO
Stakes: 5/5/10

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