Reaching $1,000,000 by December 2011

[FuglyBaz]

I can't remember who mentioned it, but on another forum some guy was part way into a plan to reach a 7 figure bankroll in a three year period after starting building up from freerolls. Whoever it was, is on track to complete this awesome feat. They are currently playing $4/$8 games and raking the cash in. Only about a year or so into the plan.

Well...I deposited $25 on PKR last week, and have grinded it up to $220. So I've gone from playing 0.02/0.04 up to 0.05/0.10. A good achievement in a short space of time for me. I'm a lot more disciplined now than I was a couple of months ago, and taking low stakes more seriously. I know I can beat the game but being arrogant got me nowhere. I was putting money into pots when behind just to prove that opponents were drawing thin when they hit the miracle cards. I was in a totally bad place and playing absolutely shit poker.

So back to basics. I don't honestly know if 7 figures for me is achieveable in 42 months, but I will bust my cajones trying. The reason I set 42 months as a benchmark is because less hands are played on PKR because of the software.

I wanted some advice on how long I would have to play per day to meet this target. Even the best way to go about this in the first place.

The only thing that concerns me is IF I progress to the $10/$20 games that I might have to move sites as they don't run higher then $5/$10.

Any kind of spreadhseet I can use to help me? As poker tracker cant be used on PKR.

It's something I want to try and do. I'm armed with a totally fresh mind set thanks to a book called 'The Poker Mindset' (great book for those who haven't read it!) and really want to give this a crack. It isn't going to be easy at all. And it will be a mental challenge, but if I can get close to achieving it then it will be the greatest thing I've ever done in my life.

Feel free to laugh if you must, but I'm not saying I will do it. Just looking to see how the best way to go about it is.

Here's my basic 'rules' that I've set myself so far.

1) 20x Buyin for cash games (standard really for recreational players)
2) No more than 4% of bankroll to be used in any one SNG or MTT
3) Make MTTs the exception rather than the rule
4) No spin ups!!!
5) Set 8-10 hours a week aside to review hand histories, and study weaknesses in my game
6) Post at least ten hand examples per week on any poker forum. Examples of straight forward and creative play, not just tricky hands
7) Have fun, poker is a game not a job
Repeat Rule 7
9) Repeat Rule 8

Anyway, blah blah blah help guys And wish me tons of luck because I'm gonna need it I think


EDIT: Is it okay with the moderators if I use this thread as a kind of diary to update my progress?

[totalise]

lol

dont try and run before you can walk! you ran well for a week and moved from 2/4c to 5 c/10c and now the only thing you are worried about is getting action if you get to 5/10 and 10/20$ nl? Just hope that you get there and worry about it if and when it happens.

Play a lot of hands, dont be results orientated, regardless of whether you won or lost, and always be honest in your assesment of your own game.

good luck in your quest!

[FuglyBaz]

lol

dont try and run before you can walk! you ran well for a week and moved from 2/4c to 5 c/10c and now the only thing you are worried about is getting action if you get to 5/10 and 10/20$ nl? Just hope that you get there and worry about it if and when it happens.

Play a lot of hands, dont be results orientated, regardless of whether you won or lost, and always be honest in your assesment of your own game.

good luck in your quest!

LOL I set this goal last week before I deposited any money. I wanted to check I had the discipline to manage my bankroll before I posted this.

I was too arrogant to think about BR management before and it cost me dearly a lot of times. Setting a goal like this is probably the only way I can stay focused.

Trying to inject light humour with the $10/$20 I dont even know if I'll reach $1/$2!

One thing I dont wanna do is run before I can walk. I wanna take my time. I ran before I could walk in darts and it cost me dearly because I wasnt good enough.

[byronkincaid]

1) 20x Buyin for cash games (standard really for recreational players)

i had a 20 BI downswing last month, it may have been standard 2 years ago but the games are much tougher now

[Ismene]

Well - I wish you luck and hope you run like a god for the next 42 months.

Love the idea - will you be posting the trials and tribulations? i think it would make interesting reading... and GL

[Horneris]

EDIT: Is it okay with the moderators if I use this thread as a kind of diary to update my progress?

Sounds Good.

We probs need another diary

In all srsness tho, its impossible, but Good Luck!!!

[mondatoo]

Firstly the very best of luck with this baz m8

However what you're suggesting is that as a recreational player you hope to earn $250,000 a year(even more than this seen as you have set it at 42 months cant be arsed to work it out though) as your second salary.Do you not think that you're maybe setting your goals a bit high ? I would say making $100,000 in this time period would be a good achievement as a rec player

GL 

[lucky_scrote]

I think posting this in BBV would be a good idea.

[Woodsey]

All the best mate.

However, I think I've probably lost count of the number of these types of blogs that have failed miserably or just fallen by the wayside. My advice would be to set some shorter term targets that are realistic and give you something to focus on. Maybe something along the lines of to getting up to $400 in the next week and say $1500 by end of the month.

GL anway.

[lucky_scrote]

Ok anyway I just remembered something OP. If you read the poker mindset you should have known you have set yourself a bad goal.

Setting yourself long term goals like win x amount in x time is a bad target. You need to set yourself a number of hands to play each week and hopefully move up when you reach a certain win rate.

As for bankroll management, 20 BI rule does not exist anymore. Once you start hitting 50NL you really need 40+ buyins to move up. I think that once you hit 25/50nl though the reverse implies as you are often playing less than 4 tables which lowers variance.

[FuglyBaz]

Okay I've scouted the other forum where I found the original posters idea to do this. turns out he turned 55c won from a freeroll into 55k after 18 months. He has set himself 2 1/2 years from there to try and get into 7 figures, so scrap what I've said. if it has to be changed change it to December 2012 but if games are getting tougher then I realise this will be impossible.

Also I should stay away from monetary terms as someone else said. Perhaps just sticking to playing x amount of hours and posting x amount of hands etc is the best thing. The money will take care of itself if I make the right decisions

i had a 20 BI downswing last month, it may have been standard 2 years ago but the games are much tougher now

Wowzers! How many buyins would I need in this day and age (time moves fast online doesn't it?)

Would you say about double the amount, say 40x max buyin?

Well - I wish you luck and hope you run like a god for the next 42 months.

Love the idea - will you be posting the trials and tribulations? i think it would make interesting reading... and GL

I'll certainly keep people updated about my failure attempt at this silly thing.

Firstly the very best of luck with this baz m8

However what you're suggesting is that as a recreational player you hope to earn $250,000 a year(even more than this seen as you have set it at 42 months cant be arsed to work it out though) as your second salary.Do you not think that you're maybe setting your goals a bit high ? I would say making $100,000 in this time period would be a good achievement as a rec player

GL up

I'm too embarassed to say that I do not have a job at the moment though Ive been looking hard. Personal situation so please don't ask This just kills some time for me and keeps me focused on something.

Changing the goal over a four year span still makes this impossible I guess. Say I reach the same point as the other guy and hit $55k, would it be realistic to hit 7 figures in 2 1/2 years from there? I'm awaiting for him to tell me how he's calculated getting to the magic 7 because I thought it was impossible myself.

Ok anyway I just remembered something OP. If you read the poker mindset you should have known you have set yourself a bad goal.

Setting yourself long term goals like win x amount in x time is a bad target. You need to set yourself a number of hands to play each week and hopefully move up when you reach a certain win rate.

As for bankroll management, 20 BI rule does not exist anymore. Once you start hitting 50NL you really need 40+ buyins to move up. I think that once you hit 25/50nl though the reverse implies as you are often playing less than 4 tables which lowers variance.

I will change my goals accordingly. I'll consider the goals once tomorrow is out the way, and evaluate what I'm going to do for the next 7 days. You get about 45 hands an hour at PKR so I need to consider how long I want to play for.

I wanted to check regarding the buyins. Does more than 20BI apply if you are playing one table only? I'm not multitabling at the moment. If I could use pokertracker then perhaps I would but since as I can't follow everything, then its best to stick to one table.



Would another reasonable goal be to watch about 5 hours of poker without playing, so I can take notes on other players before I sit down with them?

[mondatoo]

Being out of work is nothing to be embarrassed about Baz it happens, i was out of work for couple of years ago for nearly 6 months and it wasn't for the lack of trying.

I think it's a good idea that you're going to re-assess what your goals are in poker.It's good that you should set yourselves goals for playing but maybe lowering your expectations(as you seem to be doing) is a good idea.I've set myself two goals for the next year.The 1st is to make a profit of £5000 to have a roll to go to vegas for the series nexr year.The second is to sat into a £1k event.

Good Luck in achieving your goals 

[Grier78]

Good luck in your quest.

The way inflation is getting everyone will have $1m bankrolls by christmas.

[ifm]

Set realistic goals FFS!
Look to make a decent living first, 20k tax free per annum is cool, sustain that and then set daft, unachievable goals.
You've got no track record that suggests you can win over 4.2 months let alone 42 in fact i doubt there are more than 20 regular posters that are long term winners over 2 years!

[maldini32]

[  ] This will happen