OT: INTRO (please read)

[DonkNitUP]

Hey,

I have actually been around these forums for 5 months or so but I created a new account (not for any reasons of people hating me, as I never posted that much)
I am 22 and a senior at UGA although I am graduating in December. I am doing an internship this summer in Rochester, New York so I will not get to play alot however I am so itching to get back into it now. (I would really just like to make a few dollars before I graduate bc it is really needed)
About my poker: I started playing poker around october of 2004. I never played that much and was only a small time gambler (although I gambled on golf my whole life growing up). IN Decenber 2004, I won the worlds largest poker tournament put on by royal vegas. It was a 100K freeroll and i took $23,500 for first. After that I thought that i was on top of everything, gambling like crazy.. winning $14,000 in a week then losing $10,000 in a day. Over the last year and a half I havent worked while I was in college because of this money and meanwhile I have lost some of it back. I did not understand variance or anything. I just thought I was the best (which obviously is nowhere close to true).
Anyway, I am leaving for my internship May 15th after the College Poker Champ. Regional Finals but I would REALLY like to play poker bc i miss it so much.
I have played around 200 SNGs with a very good ROI however I just keep jumping up stakes(in limit poker) and have no bankroll management skills(yes i know 200 sngs is nothing). I would like to start posting here and get myself back into the game and do it the right way.
Yea I know I was just talking about money management.. but as of now I would only like to put in $220 for 20- $11 SNG as money is pretty tight before my internship.
I know I could hit a downswing at the very beginning but do you think I have a GOOD chance to make this into something, or should I go to like $5.50 on stars?

Ok enough rambling, i just wanted to introduce myself and see what i should do about this?
Also... I have read the FAQ and have read here alot (as i know alot of people introduce themselves and are never heard from again) I would really like to make a go of this though so any help would be appreciated. (I do not have SNGPT or PT though as I thought I would be done with poker.. and I only have 220 that I want to put in at this time.. (more after summer internship but hopefully not needed)so i really dont have any money to spend on it at this time unfortunately
Thanks for yor help (sry about typos if any)

[ChoicestHops]

This should be enough even for the speeds.

[ItalianFX]

I think you have a better chance at the 11s on PartyPoker rather than the 5.50 at Stars.

[DonkNitUP]

im just so worried about swings and variance after what happened winning that money. I mean I would just go crazy with how much i would play for (and sports betting).. i just wanted to introduce myself and see if this was ok.. im not a complete noob to poker or SNGS but i wanted to see if i was on the right track this time around. Thanks for your reply

[ItalianFX]

Tell yourself that you are going to do it right this time. Don't worry about your results, think about making the right plays.

You could take $500 and go to PartyPoker at the 11's and build up from there.

If you still have a considerable amount of money, don't just dump it on Poker just because you have it.

Start fresh and grind away.

[AmazingErvin]

It's pretty difficult to rate your abilities since your whole bankroll just came from one big score. Since you only want to play with $220 at this time, I would start with the $5.50's. Since you probably do have a good idea of what you're doing you should be able to move up to the $11's in no time, I would say when your bankroll hits $400 or so. Keep your bankroll healthy and move up when you have a number of buy-ins you feel comfortable with and the opponents you are against. The number of buy-ins is very different for everyone, just make sure it's a number where you're not playing scared. You don't seem super conservative and you're not broke if you lose it so 35-40 should be good enough. Don't be afraid to take occassional shots at the higher levels when you're thinking about moving up. Anyway, good luck and I hope to see you more on the forums!

[splashpot]

Sounds like your only problem will be keeping yourself under control. If you can do that, you should be fine.

[DonkNitUP]

[ QUOTE ]
Tell yourself that you are going to do it right this time. Don't worry about your results, think about making the right plays.

You could take $500 and go to PartyPoker at the 11's and build up from there.

If you still have a considerable amount of money, don't just dump it on Poker just because you have it.

Start fresh and grind away.

[/ QUOTE ]

thanks, and im not just dumping it on poker because i have it.. i put aside some for bills and everything else but only 220 and not 500 that i have for the 11's. Also, it would be GREATLY appreciated if someone that knows ALOT about rakeback could PM me so I can ask a question. I had this before but something happened and i dont know what to do? thanks again for the reply.

[VK_Rick]

I'll echo what others have said. I recently built a decent bankroll at the PP $11s, starting with $135. That said, I got lucky, and it was not my entire bankroll (just what I happened to have sitting in PP after moving most of my money to PS), and I think if $220 is your limit, $11s are too high.

There is no doubt that even if you are a winning player, you could burn through 20 buy-ins at the $11s and be out very quickly. I'll leave the exact math to others, but you'll see various analyses like this on here, and dropping 20 buyins is a pretty common occurrence, even for very successful players. On the other hand, assuming you're a winning player, your chances of success with 40 buyins at the $5.50's is probably very high (again, I'll leave the specific math to others).

Try to work your way up to $350 or so and start mixing $5.50's with $11s. Once you have $450-$550 (depending on how risk adverse you are), play the $11s exclusively.

As your bankroll grows, start adding in $22s, and so on, and so on. . . . Just always keep in mind that it's easy to drop 20 buyins, a drop of 30 will also happen occassionally, and 40 is not completely out of the question. Manage your bankroll accordingly (moving down as necessary to maintain a safe roll) and you should succeed.

Good luck!

[Prodigy54321]

I would recommend playing the $5.50s with just 220, but I I play with 200+ buyins so maybe I'm a puss [img]/images/graemlins/smile.gif[/img]

anyway, good luck..

BTW have you considered bonus whoring up to about $500 or so?? then start at the $11s..that's probably what I would do