Here is this year's list of poker goals for the year 2010. As a fairly recreational player, I am not full-time... Heck I'm not even part time at this point:
1) End this year with a net profit of $9,500. I ended 2009 with a net profit of $5,829 logging in 392 hours in the 1/2 cash game setting. This equates to roughly $14.86/hr. At one point, I was just above 15 dollars an hour before i ended the year on a negative note (In my last 3 sessions I logged 13 hours with a loss of $225 in a mini-downswing). I was disapointed in the way I ended the year, but this year equates to a brand new slate. It would be very nice to grind up to 9,500 for 2010. However, if my hours become 600-700 for the year, I expect this mathematical figure to be $11,400-13,300 for the year.
2) End this year with an hourly rate of $19/hour. If I would have ended 2009 stronger (The last 3 sessions introduced above), I would have had an hourly rate of nearly $16. As I continue to read through quality Texas Holdem material, I should be able to clean up a few flaws in my game.
3) Log in 500 hours minimally for 2010. Yes, being the numbers kind of guy I am, I figured out what my first two goals would be by making a goal to log in 500 hours. If I log in 500 hours and make 19 dollars an hour, I will make $9500 for the year.
4) Read 5 new poker books this year. I am currently reading Daniel Negreanu's Power Holdem Strategy and I am about to read Mike Caro's Most Profitable Holdem Advice. I hope to purchase one of the great Dan Harrington's tournament style books on Texas Holdem shortly as well.
5) Begin competing in tournaments. In 2009, I did purely 1/2 cash games at predominately local charity pokerrooms along with the occasional casino stop. Now that I am 21 in May, I can begin to play at the casinos downtown. I plan to sprinkle in a few tournaments here and there to expand my poker game. I really enjoy the cash games, but to spice things up I think its important to compete in 1-2 tournaments a month for roughly 15 tournaments a year. This will at least give me a small sample space to see what how my rates compare with that of the cash game.
6) Place in at least 4 tournaments. This is not the greatest profit, but I believe need to start off attainable and basic before expanding my goal on this one. In tournaments, this year is more a year of experience. I think of myself as a skilled low-limit cash game player, but I am still a beginner in tournaments. Rome was not built in one day.
7) Have the Bankroll to be able to play in a few VERY JUICY $2/5 cash games. Yes, I certainly don't have the bankroll today to play in 2/5 on a regular basis, and I plan to be a regular $1/2 cash game player even at the end of the year. However, by the second half of 2010, I would like to have the flexibility to be able to introduce the idea of $2/5. I will have to continue to have a solid hourly rate. The problem with $2/5 is that you can WIN a lot more, but you will have to take larger swings. The reason I say problem is because I don't quite have the bankroll for it. For example, in $1/2 NL, I bring $200 to play with. (usually 2 $100 buy ins if need be). If I play $2/5, I will probably have to buy in with $250 (2 buy ins equate to being willing to loose $500 on horrid nights). I cannot handle these swings, so I will likely not participate in this limit much or at all for 2010.
8) Continue to achieve great poker habits with my personal Bankroll. I have kept this rule of thumb since day 1: For each poker session, in $1/2 cash games I will bring 2 $100 buy ins, making my worst case scenario a $200 loser. This is a very sound strategy because I will not be overstressed on losing nights when I am relaxing at home. If I am in $2/5, I have to be willing to use this rule of thumb: Bring 2 $250 buy ins making my worst case scenario a $500 loser. This is why I am not quite ready for $2/5. I am very proud of myself because I see this. I believe I have the skill level to compete and profit at this level, but I always prepare for the worst. I will be ready for a downswing, and my bankroll must be able to weather the storm.
Another rule of thumb for myself before moving up in limits for the cash game is this: Have a minimal of 10 buy in SESSIONS for the level you are playing at. If you don't have that minimal requirement, you must lower your level. It's always ok to do this. For example, I need to have minimally 2,000 dollars in my bankroll to play $1/2. ($200 willing to loose each night) In order to move up to 2/5, it has to be minimally $5,000. This is another example of why my bankroll is not ready. I may have the yearly profit to play $2/5 and even $3/6, but I am continuing to make payments on college classes, along with everyday expenses, so obviously I dont have that money in my name.
9) Continue to make a log of my winnings and losings for each session. This is probably the easiest and most basic goal I have for myself. Without this goal, all the other goals are impossible to factually know. Each year I have a notebook that contains the date/ Number of hours logged in that session/ +-$ that day. I am very true to myself, because if I don't do this, I am cheating myself. The only way you can truley figure out how your really doing is to be exact and consistent on your personal log. This is how I find out my hourly rate and net profit for the year.
10) Make sure I write about each session for the entire year. This is pretty self explanatory.
I know this was a pretty long list of goals, but I believe this is attainable with hard work. If I don't conquer at least 8 of the 10 goals, I will consider this year as somewhat of a failure. Wish me luck!
For the vast majority of journal entries, I will conclude with a quote from a poker professional or a life quote that is related to my poker session: "If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspires your hopes." -Andrew Carnegie