Q&a With Steve7stud

[Zach6668 513]

How important is BR management?

Read page 1.

[mjd 0]

Steve,A non-numbers, Poker vs Life question:I'm a successful computer professional making 6-ish digits a year in a salary job-totally stable. I play poker as a hobby and I enjoy it. I like to punish people who are 'bad at math' for fun. But, I only really get to play after a long day's work or on weekends or after a drive to vegas (5 hours from Phoenix).Is there a realistic way to take my poker game to the next level while holding a full-time 9-5? And, given a stable, good 9-5 how do I evaluate the cost/benefit of spending time on my poker game? ie. how likely am I to exceed my salary significantly and how do I determine that?Thanks,-M

[hblask 1]

How important is BR management?

Steve,Can we ban this guy?hblask

[mase_gotsem 0]

where can we find this book ? the full tilt one

[Actuary 3]

Thanks a lot for doing this steve. Very nice of you.Can you please name drop for us? Tell us about playing heads up with Ivey. I am interested in your stories...

there was a place for this but here you just look like a clown and common*************************************************************Steve, Zach, Checky,This will turn into a Strategy Forum All-in-One Thread if everyone comes in with their thoughts.Trust me, it will get garbaged up fast.MY thought:Have a thread for Questions only. NO Answers (and delete any discussion within the thread)Then Steve can Copy a Question from there to answer and write his response in a thread only he can write inSo we'll end up with a Steve Answers Questions thread...like a manuscriptOther threads can be created like if I want to dispute his ideas with AK in micro, etc. We do not need another Community Thread for strategy, which this one is about to become.

[bdc30 0]

Have a thread for Questions only. NO Answers (and delete any discussion withi the tread)Then Steve can Copy a Question from there to answer and write his response in a thread only he can write in

I this idea. Will be easier on Steve and much more coherent to read.

[mjd 0]

I this idea. Will be easier on Steve and much more coherent to read.

QFT

[MikeJohnson724 0]

there was a place for this but here you just look like a clown and common*************************************************************Steve, Zach, Checky,This will turn into a Strategy Forum All-in-One Thread if everyone comes in with their thoughts.Trust me, it will get garbaged up fast.MY thought:Have a thread for Questions only. NO Answers (and delete any discussion within the thread)Then Steve can Copy a Question from there to answer and write his response in a thread only he can write inSo we'll end up with a Steve Answers Questions thread...like a manuscriptOther threads can be created like if I want to dispute his ideas with AK in micro, etc. We do not need another Community Thread for strategy, which this one is about to become.

Actually, I was not trying to be a dick. I am really interested in hearing stories about some of his experiences. Maybe 1 story a day or something, I think it would be interesting.

[Actuary 3]

Actually, I was not trying to be a dick. I am really interested in hearing stories about some of his experiences. Maybe 1 story a day or something, I think it would be interesting.

Have you always trolled here, or just now?so transparentand thanks for lending value to my idea....

[MikeJohnson724 0]

I am new here. I just started trolling. Sorry I have a life and don't have 17k posts. If you have a problem with me can PM me and we can talk about it. I don't think we should hijack his thread.

[bdc30 0]

Too late. Bring on Zach and the mod-stick

[Actuary 3]

MY thought:Have a thread for Questions only. NO Answers (and delete any discussion within the thread)Then Steve can Copy a Question from there to answer and write his response in a thread only he can write inSo we'll end up with a Steve Answers Questions thread...like a manuscriptOther threads can be created like if I want to dispute his ideas with AK in micro, etc. We do not need another Community Thread for strategy, which this one is about to become.

Make it Happen ?

[CobaltBlue 662]

Steve, Zach, Checky,This will turn into a Strategy Forum All-in-One Thread if everyone comes in with their thoughts.Trust me, it will get garbaged up fast.MY thought:Have a thread for Questions only. NO Answers (and delete any discussion within the thread)Then Steve can Copy a Question from there to answer and write his response in a thread only he can write inSo we'll end up with a Steve Answers Questions thread...like a manuscriptOther threads can be created like if I want to dispute his ideas with AK in micro, etc. We do not need another Community Thread for strategy, which this one is about to become.

I almost chimed in here with some of my thoughts, but I asked Steve first whether he minded. He said that he didn't. I think it'll be a lot of work for Steve if he doesn't get a little support. Obviously, people are coming here for Steve's answers, so there's hesitancy to dilute that, but more discussion never hurts. I think it'd get a little crowded to start a new discussion for every question/answer, but I could be wrong.My feeling is that this can potentially be an excellent thread, quite unlike any of the others on the forum. While the challenge and goals threads have a community strategy tinge to them, they're not entirely strategy-focused. They're more like update blogs with the occasional strat discussion thrown in.I don't think this thread should be one that gets filled with hand histories (though certainly they might be used to illustrate a concept). There are plenty of other areas around here for that. I view this as a good spot for people to ask general poker lifestyle questions and more "approach" style questions...particularly for the less popular games. So far, I think that's been the direction it's been taking. Perhaps some guidelines for questions can be set, but I'm guessing Steve's taking a pretty flexible/open approach here in the beginning. This thread should evolve into "General Strat" with a qualified host/speaker and occasional guest speakers. I think it'll end up making this section of the forums a lot more popular and helpful.

[Actuary 3]

I almost chimed in here with some of my thoughts, but I asked Steve first whether he minded. He said that he didn't. I think it'll be a lot of work for Steve if he doesn't get a little support.

no, it's more work this way, where he committ to addressing any question not addressed or should feel compelled to add on to any other answer given, since it has his name on itPulling out, maybe 5 questions per day to answer or however many, would make it easier, cleaner and more pure Stevewe;re not making this thread to see how I play the hand or Checky, really (unless Steve wants to designate some of his former students/others whom he knows know their stuff)I'll follow whatever Steve decides because obv, I'm clogging it up telling everyone it will get clogged up this way.Some structure at least is necessary, guar it will deteriorate

[steve7stud 0]

About your o8 theory, What are your thoughts on the following -- At a passive table where there are a lot of preflop callers (>60%) and very little raising preflop, I'll often limp in with high-only hands (TJKQ, big pairs, suited connectors, etc) looking to get in for the high half. Theory being, if there are that many limpers (taking position in to account too) there have to be a lot of low cards out. The hands are easy to get away from when you whiff, and SO often when I play this style, I end up quartering or even 1/6thing donks in with ragged low hands where I have the nut high hand locked up.

High hands can obviously be quite profitable. One of the keys is to understand their value. A hand like AAKQ certainly has more value in plo vs o8. But without the presence of a low on an o8 flop, the AAKQ can become a monster. Ideally you want to see a high hand for as cheaply as possible. AAKQ is a raising in most situations, but four broadway cards are limping hands. The goal with a high hand is to lock up the flop as quickly as you can. Without the presence of low cards is clearly the best way to do this. The one thing I fear about hight hands for newer players is not understanding their value with the presence of low cards. Somtimes it is correct to bet, sometimes it is correct to call, raise, fold, etc. In essence they are more complicated and take more experience to play. You are not going to always flop the nuts, so you need to know when to stay in, and when to get out.Ironically a high hand in o8 is something that you usually want to play against multiple opponents cheaply. In stud8, you want to get heads up with your high hand.

[steve7stud 0]

Hey Steve, Thanks for doing this type of Q&A format...I have 2 questions pertaining to tournament play... I find myself building a great lead in the beginning and rocketing off to first within 15 min.... then I run into marginal hands... but I still continue to build... Then I am moved to another table and its with other big stacks.... I have noticed that these big stacks got there by playing donkey-ish style of poker. I have tried to continue to play tight aggressive, but they call more or just play over all more aggressive.... So I changed, and when I got to this stage again I tried to play small ball.... but I am unable to play small ball with such aggressive set of players.... and it always seems that one of these ( donkeys ) takes out all the others... then if I am not moved, I am left there trying to play against a donkey with a 4 to 1 chip stack...How do I get pass this stage?I also seem to go deep but fizzle out towards the end... either near the bubble or just shortly afterwards....The other question I had was... I would like your thoughts on something I heard about the way Stu Ungar played tourneys....I have heard that Stu never played until the antes kicked in... Can you give any insight of that type of style and could it be used in today’s online poker tourneys.... Thanks Steve...

Small ball is tough to play online. I stated in another thread that you usually won't have a lot of chips to play with. JC did an article for cardplayer which I thought was good discussing some of the differences between live tourneys and online.If you are at a table with a lag player, or several lag players you really have 3 options. Gamble with them, trap them, or wait it out. Keep in mind that quite often a lag player will not have what they are representing. Just because you have a medium pair and an ace flops, you don't always have to give that player credit for an ace. Sure you will be wrong on occassion, but a lot of lag players will apply a ton of pressure with no hand at all. They will do this with position and bets. I tell people all the time to remove the fear of busting out of a tournament. We all want to be there at the end to receive 1st place money. But you never want to be their with no chips. You will have to gamble, bluff, play position, trap, value bet, etc.There is no quick fix to your problem. I have given a set of solutions, but you need to experiment a bit more. Once you truly start to understand that you are playing for the win, your fear of busting will be removed. That is my take on it.A lot of people certainly change their style of play when antes kick in. There is more money to be won in the pot with steals. Without antes you are stealing just the blinds. People are also looking to defend more when antes are present because they often "feel" like they can win that money that was in the pot as well.As far as how this translates for online tourneys, it will often depend on how many chips you have. When Stuey was doing this, he was playing deep stack poker. Most online tournaments do not offer you that luxury.

[steve7stud 0]

How important is BR management?

Regardless of what the intention was behind this question, the question itself is one of the most important components in poker.If it is a serious question, I am glad that I have a chance to answer it.At two different times in my poker career I got great advice regarding br management.The first person simply said, "The most important thing is to stay in action"The second person and I had a talk about my ability as a poker player.I went on to explain that I believed I was truly talented, but had a hard time managing my losses, and my br fluctuated obviously. Despite that, I felt that I was a great player. He explained to me that I was wrong. No matter how much talent I thought I had, ability itself was only 50% of poker. The other 50% was br management.Most people think that they have a good grasp of br management. If they are fortunate they do. Sadly, I have found that most people don't.People never play poker to lose. Nobody wants to lose money. Furthermore, people want to have fun. And folding is never fun. In order to truly be successful as a poker player, you have to treat it as a business. For some who have a hard time with their finances, tournaments are a great option. You can only lose a certain amount on any given day. For others, cash games are the way to go.Regardless of which path you choose, and quite often you should mix the two together, you have to have a good business plan. That plan revolves around your bank roll. The money that you have dictates the limit that you can play.I routinely tell people that 300bb's is what you should have for recreational play, and 500+bb's for a pro.If you are a good player, with discipline, this will keep you in action.

[steve7stud 0]

Thanks a lot for doing this steve. Very nice of you.Can you please name drop for us? Tell us about playing heads up with Ivey. I am interested in your stories...

I was going to skip this one, but I feel it's important to answer all questions.I've played with Phil several times. The bottom line is, he is insanely talented. And is a much better player than I am.I am not interested in name dropping.

[bdc30 0]

Here's something I've been wondering about and have never seen a "solid" answer. Can you talk a little bit about staking - specifically what the "usual" terms and conditions are, what benefit the staker gets out of the deal, and how the arrangements are usually worked out? I'm insanely underrolled for even low limit plo, and have been considering a backer or some kind of stake deal, but two things I don't want to see end up happening are a.) Putting in tons and tons of hours for relatively little benefit of my own OR b.) Needlessly losing someone ELSE'S money that was good enough to believe in me.

[steve7stud 0]

Steve,A non-numbers, Poker vs Life question:I'm a successful computer professional making 6-ish digits a year in a salary job-totally stable. I play poker as a hobby and I enjoy it. I like to punish people who are 'bad at math' for fun. But, I only really get to play after a long day's work or on weekends or after a drive to vegas (5 hours from Phoenix).Is there a realistic way to take my poker game to the next level while holding a full-time 9-5? And, given a stable, good 9-5 how do I evaluate the cost/benefit of spending time on my poker game? ie. how likely am I to exceed my salary significantly and how do I determine that?Thanks,-M

As a numbers guy it should be really easy for you to track your progress. One of the greatest feelings in the world is to NOT have to depend on poker for an actual income. I have found that people who are good at the game, but still have another viable source of income are a huge threat IF they want to be. They don't have the same pressures that pro's do.Casino Arizona is one place that you can play, Vegas is an option, a weekend in LA is a better option vs. Vegas imo, and online is an option. One of the problems with these options during the week is that you will be taking time away from family, friends and other obligations. You will also be playing with time constraints. If you are the type of individual who can walk away from a session win, lose or draw because you have to get up for work the next day, I am all for it. The fact that you are a numbers guy will help. But once you reach mid to higher limits, everyone has an understanding of the basic math of the game, and other factors become much more important.Realistically it will take you awhile to get to a place where you are doing better financially in poker vs. your current job. In fact it might never happen. This is nothing against you, I just don't know you well enough, and don't know where your talents lie. I can tell you that only 5% of people who play poker are winning players in the long run. 3% show a decent profit, and only 1% are making over 6 figures a year.Having said all of this. If you love playing poker you can make a lot of money doing it if you are disciplined. I would take some time and track your progress. Keep very accurate records. See how much you are winning on an hourly basis. Look for a large sample size.Let me know how it works out.

[Abbaddabba 0]

Staking arrangements are almost always screw over the person putting up the money...primarily it's because people who need to be staked arent winning players.but even when they are, the terms are generally unbalanced.splitting winnings half/half requires the stakee to have a +100% ROI just for hte staker to break even.I personally think that loans work infinitely better than stakes unless you have extemely intimate knowledge of how well they play, and how well the field of players they'll be facing play.

[steve7stud 0]

Here's something I've been wondering about and have never seen a "solid" answer. Can you talk a little bit about staking - specifically what the "usual" terms and conditions are, what benefit the staker gets out of the deal, and how the arrangements are usually worked out? I'm insanely underrolled for even low limit plo, and have been considering a backer or some kind of stake deal, but two things I don't want to see end up happening are a.) Putting in tons and tons of hours for relatively little benefit of my own OR b.) Needlessly losing someone ELSE'S money that was good enough to believe in me.

Typically a stake is done where one party puts up 100% of the money to play with, and the other player uses that money for the purpose of playing a cash game or tournament. A standard deal would be a split of 50-50.If the player is winning he would get to keep 50% of the profit, and the backer would keep the other 50% of the profit. The stake itself would be the bankroll.When a player loses, they have a make up figure. This is a negative balance. They need to win x amount of dollars before they are in the profit zone. For a tournament the backer will put up the buy in, and the player will play. If the player wins. The buy in should be returned to the backer and the profits are split 50-50.If the player loses, assuming they have an ongoing agreement, the make up figure will apply for future events.Quite often the "staker" will lose money in any relationship. It takes a great amount of trust to stake someone. A persons best bet for success is to stake somene in cash games. But that takes two people who have a lot of trust in one another.In your case in particular, I would reccomend not being staked. I would deposit a small amount of money and work it up. If you can't win on your own, it is tough to win for someone else.The reason that people stake others is because they believe they will win money. This is obvious. Usually they are doing it as a favor, or because they are action junkies. Staking can work, but "usually" it is a failure.

[Zach6668 513]

Here's something I've been wondering about and have never seen a "solid" answer. Can you talk a little bit about staking - specifically what the "usual" terms and conditions are, what benefit the staker gets out of the deal, and how the arrangements are usually worked out? I'm insanely underrolled for even low limit plo, and have been considering a backer or some kind of stake deal, but two things I don't want to see end up happening are a.) Putting in tons and tons of hours for relatively little benefit of my own OR b.) Needlessly losing someone ELSE'S money that was good enough to believe in me.

Steve, he's hinting at you for a stake.

Staking arrangements are almost always screw over the person putting up the money...primarily it's because people who need to be staked arent winning players.but even when they are, the terms are generally unbalanced.splitting winnings half/half requires the stakee to have a +100% ROI just for hte staker to break even.I personally think that loans work infinitely better than stakes unless you have extemely intimate knowledge of how well they play, and how well the field of players they'll be facing play.

Incorrect.

[bdc30 0]

Steve, he's hinting at you for a stake.

Nah, he's honestly not.

[PrtyPSux 0]

Thanks for the Q&A forum, Steve!I play almost exclusively NLHE large MTTs and 45 man SNGs at the micro-limit levels ($1-2). I'm your typical bonus-whorer, trying to turn $50 into a brazillion. I run real well in the micro Razz and Horse tourneys, but with the lack of tourney and (especially) SNG options at micro stakes, I'm stuck in hold 'em hell until I clear bonus.That said, my question is this: I have two leaks in my game that I have identified. #1 : I play entirely too aggressively once I am ITM in NLHE MTTs in order to accumulate chips. Although it depends highly on read, M, stack size, and FIV, do you have some general guidelines for chip accumulation once you are in the last 10% of the field of a large field? It is much more difficult (bordering on suicide) to wait for legitimate hands late, but any more than one "steal" an orbit seems to bring the wrath of the doomswitch. Do you put any stock in stealing from the blind-stealers, or is that play best left until the FT, where the prize jumps really make even the marginal players put on the brakes with KJsooooted?#2 : The first hour of NLHE MTTs. Holy god. I don't even know where to begin. Sometimes I feel any money put into any pot pre- or post-flop before the blinds hit 25/50 can be classified as a dark tunnel bet. How do you advocate approaching the first hour? I think in 80% of my last 20 MTTs I've sat at the end of the first hour comparing my stack size to the field and realizing I was better off sitting out. There's the basic thoughts of staying away from connectors except in late position in unraised pots, not getting too involved with A-rag up through AQ PF. Playing small pairs for set mining only. I don't even worry about playing too tight that I do not get big hands paid off, because absolutely *no one* notices. They are too busy being the 6th cold caller of a large UTG raise, or the 4th post-flop all-in where no one has either an overpair, or the straight or flush draw. It truly is insane getting anyone to lay anything down postflop in these donkfests. Can we truly decide to be as tight as to play only top 10-type hands until at least 25/50 or 50/100 blinds? It's almost criminal to stay out of pots with all the dead money being tossed around, but reducing yourself to getting into so many marginal spots against calling stations has got to be -EV in the long run. I almost feel better about calling raises with suited connectors in position as opposed to calling in unraised pots, because its actually rather difficult to get substantially paid off in unraised pots with connector-friendly flops. At least when we call raises with the connectors, we can play them much similar to set-mining a small pair, so it takes a lot of pressure off us to make a hard decision post-flop. But once again, risking much more than 5% of our chips on connectors has got to be a big no-no, right?OK, I think I provided enough content before I started to ramble. Thanks in advance, Steve.

Steve told me to answer this, I'll give it a shot although what I say might not apply as much to micro MTT's.#1. I dont think you should be worried about accumulating after the bubble, you should have already done the accumulating pre bubble. After that play solid and let the short stack survivors give you their chips. #2. You can play a lot of different styles in the first 5 levels or so imo... in small stake tourneys I'd probably say TAG is the best, and getting into reraise wars preflop is probably a bad play. About the suited connectors, play them whenever you feel you can stack someone postflop, and fold if your table is reraising a lot preflop and you have people to act behind you.