Writing this post will naturally cause me to lose my entire stack. It's like a no-hitter. You just don't talk about it. Oh well... I'm a gambling man, right?
Since January began, I've turned $50 into $850 and an Ultimate Bet "Tournament Entry Chip" worth $100 toward a entry fee. That's about a $900 profit in 20 days. I'd say I've averaged about 3 hours of playing a day (on multiple tables at once mostly). That's 60 hours work for $900. That's $15/hour. Should I quite my job? (I'm not that stupid.)
Here's what I'm doing...
It's $.25/.$50 No Limit Texas Hold 'Em on Ultimate Bet. That's right, it's just 25 cents and 50 cents. I sit down with $50 and hope to walk away with a lot more. I usually have three tables of that open while I'm playing a tournament or a SNG (anywhere from $10-$30).
I fold a lot. I'll say that again, I fold a lot. I don't chase pots. I play premium hands and I slowplay the nuts. Occasionally, I slowplay myself into a lost pot, but it's rare. When I hit the big pot, it's big. When I lose, it's usually just a couple of bucks.
There are a lot of fish at the $.25/$.50 NL tables. Many are now on my buddy list. And I have a pretty good win/place/show percentage on the SNG's as well. The multi-table tournaments are usually losers, but, for now, I'm chalking that up to practice.
At this point, every time my stack hits $500, I'm withdrawing $100. That will keep me from blowing it all if I hit a bad spell. I keep asking myself if I should move up to a higher limit, but why? The SNG's and tournaments are the fun part for me, the ring games are just work.
So there you have it, CJ's current favorite strategy. Check back with me in a few weeks when that strategy is out the window and I'm trying something new!