Thanks for that link Shellback, it works great. Poker: I love poker! My $100 is up to about $400, it would be more but I have dropped a couple hundred playing in multi table tournaments, where I have had some incredibly bad beats. I'm mainly playing single table limit holdem tournies as it seems to cut back on the luck factor a bit. I place 75% of the time, but first only 10% so I think I need to improve my 1-on-1 play. Omaha cuts back on luck too, but it can be pretty boring. At this point I feel I am still only a marginally good player and am really enjoying learning more all the time. Currencies: I am making a conscious effort to spend more time at this because I still think I have the potential to be quite succesful at it. Currently short Aud/USD. Will short Eur/USd below last weeks low. Same for GBP/USD and EUR/CAD. Long USD/CHF above last weeks high. A nice DB could be setting up on the USD/CAD, but it will take this a while to complete. Will short EUR/JPY below it's low of a few weeks ago(look on a chart, you will see it). GBP/CHF could be setting up for an explosive move up.
I think you're probably already doing this but I found with the single table tournaments if you play ultra conservative in the first part of the tournament you can almost always make it to the final five which cuts your odds in half. This should put you in the money most of the time. ps. not paying attention. you say your in the money 75% of the time. I should be asking you for advice.
Actually I have a different idea on it. Before the stakes go up I will play all kinds of drawing hands, like 8,9 Kx suited, because if I hit I will get paid and only play them if they are cheap. Later on when the stakes go up then I tighten up and only play the best hands, with a bluff here and there. I usually double up early on playing aggresive and then slowly build. I've find making the final 5 doesn't do much good if you only have enough for 5 blinds. The games where I don't hit anything early on are the 25% I don't place in.
Wow. If you catch good cards early in 75% of your games I would like to have half your action. Im not that lucky. I can usually make it to the final five with most of my stake intact. Seems like there are always two or three that blow out early on.
Its not so much that I catch good cards, its that my bad cards make big hands every now and then. I'll play J 8 offsuit all the time, and you would be suprised how often that wins. I do my share of bluffing also. The best part is that the other players usually think I am bad when I win with my J8 so when I do get KK they will bet into it all day long. I play a lot of no limit tournies too and it works even better in those, but I get tired of having to go all in so I play limit more often. I guess the main thing is you have cards that people think you shouldn't be playing so you can get payed off big when you hit.
Forgot to say, I only play this way at loose tables, which these tournies usually are. If there are only 3 people seeing the flop I play tight too. Also, I play the $10 buy in and if you play higher I'm sure the players are better. I'm still enjoying playing against the worst but might try some higher ones soon.
Well, its official, I have retired from trading. I just closed my currency account, up about 6% over the last month or so. I am so into poker now there is no reason to even bother with trading. I am primarily playing 5/10 stud hi/lo now, and making way more at it than I do at work. I'm actually starting to consider quitting my job and playing full time. I can't remember the last time that I made less than $20 an hour, and that beats what I get at work. Now that this journal has absolutely nothing to do with trading I guess it is about time to stop posting in it. I have enjoyed talking with y'all very much, thanks for all the discussion, and I would especially like to thank whoever it was that turned me on to poker, although I don't remember who it was. OK thats it I guess, good luck in your trading and if you ever want to try something a little safer give poker a look.
Is this something your playing online? A friend of mine who lives England does this for a living now for over 4 years. He used to go to the live tournaments now he goes to the online poker rooms. He scratches a living together. He has averaged about 50 grand per year 3 years running from it. However he is not playing poker with 500 dollars in his total pot, that would be insane. So are you playing online?
I see some 100/200 limit games online now. growing at an awesome rate. best thing that ever happened to poker.