Note: I have 2 different challenges, one on PokerStars, and one on Full Tilt. Whether I decide to do a BlackJack challenge on UB is debatable at this point.
The inspiration started with a redeposit of $10 on PokerStars (I think it was to qualify for some freerolls, that never worked out). I then started some .10 cent SNG MTTS, more explanation of how I got down to $5+ can be found in The Challenge Begins.
There are 2 aspects to this challenge:
- The $5 to $100k Challenge by boku87, which was inspired by the $100 into $10k Challenge
- Bankroll Management, using the Concepts taught in the Bankroll Building Challenge by Chris Ferguson
We'll cover the second aspect first, since it is very important. Chris Ferguson stuck to these rules quite adamantly throughout his entire challenge to build $0 into $10k (except, somewhere there was a loophole posted on his progress that allowed for events of $2.25 regardless of bankroll size, but that I am ignoring). I built an excel spreadsheet to help with the calculations for each Poker Site I was on, and also to calculate ROI and $$ earned (manual entry, no macros, just linking cells, not ready to be sold on the market heehee).
Basically, only 2 calculations to consider: 5% of Bankroll (.05 X your site $$$), for ring games and single table SNG's. 2% of Bankroll (.02 X your site $$$$), for multi-table tournaments and SNG MTT's. This includes the buyin. If you are playing ring games with your 5%, you need to get up from the table (mo matter how juicy the game), when the stack reaches 10% of your bankroll (essentially, double what you sat down with, also known in circles as RATHOLING, but when you are building, do you really care what others think?) There are other, more stringent guidelines - like 300 to 500 times the Big Blind for Fixed limit, and 50 times table max buyins for no limit/pot limit. I decided to Stick with Chris's rules here, simply for SNG MTTs.
Boku87 started the premise of his $5 with .10 cent SNG MTTs only. Since he massively multitables (was 50 at a time), quickly scored up to over $100. His other Bankroll builder was the option of .01/.02 cent fixed limit Holdem, with a buyin of .20 cents. He works off the starting rule of the 50 buyin rule (until reaches a certain level, then wants to keep 70 to 80 buyins for the SNGs).
Having studied Boku for awhile, I have decided on the challenge of SNG MTTs only, for the PokerStars site. I incorporated the downgrade and mix of buyins depending on downswings and upswings. So, Here are the Guidelines and Marks to Reach:
- At $5, this allows 50 buyins for .10 cents SNG MTTs
- At $12, I can add .25 cents SNGs, MTTs. If start to run bad, add back in 50% .10 cent SNGs.
- At $50, will add $1.10 SNGs MTT. If running bad, can play 70% $.25 cents, and 30% $1. If running good, can play 70% $1 to 30% .25.
- If drop back to $20, will return to .25 cents games.
- Once hit over $100, pretty stable in the Bankroll.
- Over $100, can add some 1.75 18 player SNGs, I've played $2.20 profitably at $120. If at any time drop, will lower stakes.
- At $180, play $1, $2, and $3 SNG (working on a 70, 80 buy in rule). If running bad, can play 70% $1, and 30% other. If running good, can play 70% other to 30% $1.
- So for $5, need about $350, etc. In this case, will still keep the split in mind for running bad and good. A mix will keep the Bankroll Steady, and minimize losses due to Variance.
I have not added the pressure of time lines, because I can see where falling off the track increases your play when you are running bad (trying to play catch up). If you are running bad no matter what level you are playing, it is time to stop. As I observed Boku's Bad Streak, and have noticed that when running cold myself, the bad cards keep following me to new tables - its best just to lay down the Poker (that's why its handy to have accounts on 2 sites).
I am currently at $6, and have played 19 tourneys plus one freeroll since the challenge started. So I currently have 60 buyins left. Noticed on my third game yesterday the bad beat, cold card streak, and stopped playing money games. When you play enough, you will recognize this path too. However, switching over to No Limit ring games is not an option on this Bankroll, so patience is the key (and while hopping onto $1 single table SNGs are tempting, this is outside of Bankroll Management, and I am trying AT ALL COSTS not to redeposit).