How I plan to go about making the target

Next post will be a first quarter update…

I warn you there’s a bit of maths involved in this post.

I’d guesstimate about 90% of my play is satellites, with the other 10% being made up of multi-table tournaments and the odd sit and go. On a number of sites there’s a system where when you qualify for a bigger event – say the PokerStars Sunday Million – you can withdraw from the event and get the $215 paid into your account as $T – these are dollars that can be used for tournaments and sit and gos, but not cash games. Now you can’t withdraw these, but there are a number of sites and forums where you can sell these $T for around 98-99% of their value. So that’s what I do, rinse and repeat these satellites, and there are many other regulars who do the same, too many really, shame.

One of the reasons most of my play is satellites is that they usually only take one to one and a half hours to complete and I can play many at once and I don’t have the time to play tournaments during the week. I’ll get into some more satellite specifics in future blogs.

To make the $50k target I need to average $4,166 profit a month, over the past two years I’ve ran at approaching 25% ROI over a sample size of 3000+ multi-table tournaments and satellites. So that means I need to put somewhere around $17,000 worth of volume in a month to have a shot at making the target, if I run to expectation of course. Also to put in more volume I need to play either longer hours or more tables at once or a combination of the two. Any of those options should make my ROI drop a bit, although I’ve put that volume in for a few months in 08′ with no adverse effects.

Next post will be a first quarter update…

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