Slipping into the Dark Side:
I have written a lot about my desire to play more cash games; I should say play cash games at a profit. I have tried many times and usually became an ATM for all my opponents. I can almost her them say “Here comes loser64, let’s get him at out table”. I was always assured to play until I went broke, usually more then one time at a table.
I have been pretty successful playing Sit n Go’s and have had my moments in MTT’s. Cash games were another story. So what has changed?
There are two things:
One is Rakeback. you may ask yourself why would rakeback make a difference. The reason is simple, if I break even playing cash games I still make money from getting my money being returned to me. The rebate helps me play different, I would say I play correct, I avoid situations that are too risky and I am willing to play tighter and wait for a big hand, and then wait until I have the nuts to play a big pot. I am being risk avoidant. The players are so bad at the ultra micro limits (.05 / .10) I play that it is easy to continue to make money. (over the last few days I have earned about $10 per hour playing 2 or 3 tables). I am going to slowly work my way to higher levels, I just want to have the bankroll to support the jumps. So I make money by not playing to loose. I have paid attention and the players that play the ultra loose style go broke at some point, all you have to do is wait.
The second reason is table selection, if I am at a tight table I steal, it I am at a loose table I wait, (duh), if I am at a crazy table that makes me not comfortable to play I move tables, unlike a SNG where the table you get is the table you get, I can always move.
Greedo who is a frequent commenter on these posts told me in an email, that it is essentially not worth his time to play a SNG, especially a low buy in, do to the limited amount of money you win versus what can be won in a cash game for the same buy in.
I am still working my through all the things that I need in order to become a better cash game player, I still have a lot to learn. I do like the direction things are starting to head. I also could use some advice on bankroll management, when it comes to cash games. For example if I have a bankroll of $100 do I buy in for the full $10 (on a .05 .10 NLHE) or do I buy in for less? If I buy in for the full amount do I play one or two tables only? What if I lose and my bankroll slips to lest say $50 what due I do then? Also, how much is a safe amount to have when I move up?
Life Lesson: I have not failed. I’ve just found 10,000 ways that won’t work. -Thomas Edison
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Comments
Are you only playing holdem? I believe that properly played PLO is way more profitable than NL holdem. Maybe it would be better to be a PLO expert.
-Blaz
Blaz, I agree I am playing some, I seem to either real well or real bad no in between. I do prefer to play non-holdem games, just still working on them.
When I started playing NL cash games, I started with a minimum buy in and I played until I doubled it and left the table. I found that with no limit there are great amounts of fluctuations, and you will have your ups and downs… so if you play long enough you will end up a zero. So the idea is that you take the money off of the table. So, if you can double up more times than you go broke… you make a profit. It should be easy to do this, if you are only playing premium hands and get you money all in with the best of it.
A great technique that really helped my game was finding people who were successful, and datamining and cyberstalking their game. For example there is a moneybag named Iamfishy who frequents 1/2 NL at Full Tilt. He buys in for the minimum ($40) and plays super tight until he gets a premium hand and then moves all in. This either steals him the blinds, or because his stack is so small in comparrison they make a loose call… and he has a good shot at doubling up. If he doubles up, he leaves the table. So I examined his hands, saw he was successful and aped what he did.
I hope this helps get you in the right direction.