January 20, 2008

So things are looking up in 2008, including last Monday's victory in a limit Omaha Hi/Lo tournament at the local B&M. I've got my car back and more mobility to go to the casino whenever I want. With that in mind, I know that I need to keep a discipline about me to make sure I'm not going to the casino to fuck around. I'm there to make money, to work, and I need to keep my eye on that.

I've identified that the tournaments are more +EV for me right now, especially that Omaha Hi/Lo tournament. In 4 appearances, I've gotten two wins, a second, and a 4th. In the Omaha tournament, you start with 1500 chips with 25/25 blinds and 25/50 limits and the option to rebuy any time your stack is less than 1500. It was so wild Monday that I called EVERY unraised hand pre-flop, which is just the way I like it. My strength comes in knowing the numbers (especially in O8 where they're more complicated) and making an appropriate play. I went on a huge run and tripled my stack the first hour and went on to win.

I've come to the realization that to be successful at this, four things need to happen:

1) Set a time for finishing but be flexible if the game is good or if I'm chasing my losses.
2) Be aware that bad beats are going to happen, and be able to adjust or even leave if need be.
3) Stay away from -EV situations, whether it be in the poker room or the whole casino.
4) Practice good bankroll management.

All four things are things I've had an immense amount of trouble with while playing poker both online and live and they all tie into each other. If I've taken a bad beat, a lot of times I'll play much longer than I should be or even been dumb enough to try and win it back playing tilted blackjack.

I'll finish with my list of goals which are very lofty, but if I keep my wits about me, I feel like I can at least approach them or even fulfill them.

1) Win a tournament with a buy-in of more than $100 or a first prize of $2000.
2) Consistently run over the 1/2 NL Hold'em game.
3) Make a run at player of the year in terms of tournaments won at the local casino.
4) Play in and cash in a WSOP event.
5) Always come away with the feeling that I played as good as I could that day even if I came away with a loss.

-Jim