From Rags to Riches... Well $12.00 to $120,000.

Aug 23, 2006 00:33

I'm going to take $12.00 and turn it into $120,000. No, I'm not putting it into a lottery.

I am going to use the bankroll and play poker smart! According to general thought in the poker world, you should have a bankroll at least 300 times the amount of the BB in limit. So, PokerStars' lowest limit is $0.02/$0.04. So, 300 times $0.04 is $12.00.

I will follow these rules:
  1. I will start my bankroll at $12.00.
  2. I will not put any money into my bankroll unless it reaches $0.00 -- then I will "re-buy" $12.00.
  3. I will not remove any money from the bankroll, other than to fulfill rule #4.
  4. At the end of the month, 25% of my total winnings for the month will be removed from my bankroll and placed into savings. If I lost money in the month, nothing will be removed.
  5. I will not play any limits that would break the "300 times the BB" rule (now known as 300xBB).
  6. I will not play any game other than Cash Limit Hold'em. No tournaments, no-limit games, or Omaha.
  7. I will jump to higher level blinds when I reach the 300xBB for the next level.
  8. I will drop to lower level blinds when I fall to 150 times the BB for the current level.
  9. I will play at least once a week and at least 4 hours per week.
  10. I will keep a detailed log of my play, to include:
    1. Excel file of my current bankroll, past sessions, and "bankroll manager";
    2. Updates on PokerCharts;
    3. Write-Up of all sessions on yaw_poker.
I will start the quest soon. How long will it take? I have no idea. Assuming I double-up my buy-in each session and never lose, it will be just under 150 sessions. Even averaging 5 sessions a week, that's 30 weeks of play. Averaging 3 hours to play each session, over 450 hours of play. Obviously, I won't win every session, won't play 5 times a week, and won't average 3 hours per session. This will take a few years to complete, but it's a goal I'm willing to take. I'm hoping PokerStars doesn't get shut down by the US government before then.
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