It's been a really tough 2 month stretch for me. After running so good for so many months I almost forgot what's it like to run bad for an extended period of time. It seems like every 15-25 big bet pot I'm involved in, I'm either coolered or rivered. What's scary is it can get worse, the cards have no memory. In dollar terms it doesn't look so bad:
But last month I had my worst month of the year with WSOP tournaments costing me about 30K. On top of that, tons of expenses. And truthfully, I'm the worst money manager in the world. I live like the Sultan of Brunei and between my wife and I we easily spend 10K a month on non essential things. And if that weren't enough over 40% of my money goes to the IRS
And so I'm left with no choice but to drop down in limits and will be sparingly, if at all, playing the 50-100 games until I'm able to build back up. Those who follow my blog probably know I did this twice last year as well. I only hope I'm as lucky as last to year to be able to build back up quickly. This year it's a little more painful. According to PTR I'm the biggest winner online in the 50-100 games and at least temporarily I can't play them:
My current Poker Stars bankroll sits at 46K and I'd like at least 60K to play in the 50 games. With 50K, I feel fine 1 and 2 tabling the games so if I'm able to get back above 50K, I'll probably selectively play them.
The bottom line is that I need to learn how to manage my money better. The losing streaks are inevitable but not planning ahead for them is inexcusable and now results in a big opportunity cost.