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Saturday, May 2, 2009

As some of you know I have been on a "Mission" to create a Poker bankroll starting with $0 and build it to $10,000 by August 1, 2009. I started on my birthday, March 22nd. Now I know this is a TALL order. Feel free to go to my profile and see how it is progressing. While you are there, join me as a friend and I will keep you up to date as I close in August 1st.

Once again I want to thank everyone for the advice and input both the supports and the skeptics.

I have gotten a lot of comments on my personal blog centered on Chris Ferguson's accomplishment in comparison to what I am trying to do. I want to address this subject today. Do I think I am as good or compare my game to his? Absolutely not. He is an elite player and legend in the Game. Just know that if you read the details of HOW he accomplished what he did you would see that this is like comparing Apples to Oranges. His results took much long because of the limitations he put on how he would do it. First, he only played at Full Tilt. What took the most time was making his initial cash stake. Here is why. Full Tilt has between 6 and 10 Freerolls per day where you can win money. First place pays $15.....that's right $15. Most are turbo tourneys so you HAVE to get in with coin flips. It would be really difficult to play every freeroll every day there because they are spread throughout the day. Sign-up for these Freerolls close FAST. Like in 30 seconds or less! Last but not least, the number of players per game is 2,700.

Once he actually cashed he used very strict Bankroll Management. He never risked more than 5% in any cash game an no more than 2% in any tournament. If he lost his 5% or won enough that 10% of his roll was in a cash game, he stopped. If he lost that was it for the day. If he won he could go back to a different table (Full Tilt rules) but with only 5%.

Initially I was only playing freerolls and I am using bankroll management but nothing nearly so limiting. To give you an idea I won a $120 on a freeroll the other day going against 1900 and $36 in another freeroll with a field of 96. Big difference. To see  Chris's video on his bankroll building efforts at Full Tilt click on the following link:

http://academy.fulltiltpoker.com/lessons/video/52/bankroll-management

Since this is about building a poker bankroll one of the things I am doing is cashing out and moving my winnings to other rooms to take advantage of bonus offers. So, hat's off to Chris. He certainly took a purist's approach. I just have a different plan. I am more the average Joe that wants to jump-start a part-time career in poker and do it as quickly and efficiently as I possibly can. Now I know the clock is ticking and I have my work cut out for me, so back to Poker. With some luck I just might make my Goal.More to come.

 

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