Sunday, October 12, 2008

0 to 1,000,000 - 2nd Update (Daily Strategy Guide)

I've written about my 0 to 1,000,000 challenge 5 months ago and I've never forgotten about it. I've only just began building my bankroll and now I can start working towards my goal. The challenge is to get to Php 1,000,000 by May 26, 2009. I was supposed to start from $0 and work my way up but it was taking forever to build so I had to deposit $23 last month. I wasn't cheating. The money I deposited came from the money I earned from selling my poker chip set. It was sort of still related to poker anyway. I was supposed to use the money from ads to fund this challenge but that too is taking forever.

Anyway, now that I have a bankroll, this is my planned strategy. Each day I play, I'll just aim for a net profit of 3% of the current bankroll. 3% is nearly nothing and it'll be (theoretically) easy to get that 3% without risking a lot. I also need to limit playing ring games with a BB that's 0.5% of my total bankroll. I'll only limit myself to buying in 30x BB for that ring game in order not to risk too much. If I'll play an STT, the buyin should not exceed 5% of my bankroll. For an MTT, buyin should not exceed 2.5%.

I currently have $85.25. I need to earn $2.56 for the first day through playing a ring game with BB not more than $0.43. As the days progress, I'll be playing on the bigger table but still trying to win only 3% of my bankroll. It's estimated that I reach $22,085 (Php 1,000,000+) by the 189th day or April 18 if I play daily and I always reach the 3% target.

Sounds simple enough. Now I just have to play. Wish me luck.


Dan aka Nardong Putik said...

Goodluck Ross, hey SuitedACes here, I hope you dont mind, I put a link of your blog to my blog, thanks.

Ross said...

Thanks. I also linked you here. :)

Mark said...
This comment has been removed by the author.
mags said...

You have to consider variance: there's no way you can have a steady win rate every day even if you play 10 tables for 10 hours.

And it's unlikely that you'll have a constant increase as if it's compound interest because unless you move up in stakes or increase your play, your chances of winning will be static day to day.

I suggest having monthly goals instead so that your progress is more realistic and you won't be chasing your losses every session.

Ross said...

I will move up in stakes. It's the only way to meet the 3% when the principal increases. :)