Wednesday, January 19, 2011

Thoughts on micro-stakes.

I'ts Just been a few days now into this new career. Its really fullfilling to work on something I really enjoy.
As far as my strategy for beating these micro limit stakes, my approach is to follow a pro's logic. He's "baluga whale" from deuces cracked.  His "Coaching Kristy" training series and his posts are really helpful.
strategy can be summed up by the following;
"raise until they fold"
by default your player types are loose, passive, or tight as rocks.
and the number 1 strategy to beat them is "value bet, value bet, value bet.
never bluff, too many calling stations.. and dont outlevel your thinking.. they are only thinking about their own cards.. so fancy play syndrome will only get you in trouble here. Also key concepts to burn into ones brain are..
reasons to bet?
1. pot equity
2. fold equity
3. get dead money
If you are betting and dont know why, see if its one of these reasons.. if not, you are a donkey and not ready to play poker.. your emotions are controlling you. The following is a post from John "nicolak" Kim.
typical analysis from one of the best midstakes players in the world..


pca analysis of a hand
So I was watching the PCA main event final table on tv the other night when this very cool hand went down. Before I get to it, I thought it was cool to see the entire final table broadcast on tv (w/ a 1 hr delay) and James Hartigan and Daniel Negreanu did a good job covering the action. Anyway I copied and pasted the hand from another site and I give my thoughts on it.

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Galen Hall entered heads-up play in the 2011 PCA Main Event with 66 big blinds to Chris Oliver’s 167 big blinds, and in one of the first hands he made an epic lay-down that saved his tournament life and propelled him to victory.
Hall opened to 450,000 on the button with {8-Clubs}{4-Hearts} and Oliver defended in the big blind with {a-Diamonds}{2-Spades}. The flop came {5-Diamonds}{3-Diamonds}{2-Clubs}, giving Hall an open-ended straight draw and Oliver a pair of deuces. Oliver check-called 575,000 from Hall and the turn brought the {2-Hearts} giving Oliver trips and removing Hall’s ace outs. Both players checked. The river was the {a-Spades}, giving Oliver a full house and Hall the wheel, and Oliver sneakily checked to Hall who bet 2 million. Oliver thought for a moment before check-raising all-in for around 9 million and Hall went deep into the tank. To the astonishment of all, Hall mucked his straight.
“We have a lot of history online,” Hall said about the hand after the tournament. “His shove looked like it was for value.”
Hall never gave up despite being short-stacked, and four hours after the lay-down he found himself with the chip lead and eventually the title. His river-fold will go in the history books as one of the best of all time, especially considering the circumstances and results.
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When I was watching it I wasn't sure if Hall was going to call or fold the river but I knew it was a super tough decision, especially w/ what was on the line (PCA ME title + $2.3 mil). Anyway after I saw it I thought it'd be an interesting hand to talk about but when I saw Hall talk about the hand after he won the tournament, I thought he provided a lot of valuable insight that would help other poker players (that I could share).

First let me express my thoughts on the hand. I think the hand was well played by both guys except for the river overshove by Oliver, but I didn't think the overshove was that bad. I know he was hoping to end it right there and if Hall had a straight (which he did), there's a good chance he calls all in. I think, given what I was sensing on the table at the time, that Oliver should just make a standard value raise to about 5-6 mil (I think he overshoved for 11mil total) and get a call from Hall and have a commanding 45mil to 4mil lead. Instead Hall folded and Oliver had a 40mil to 9mil lead and w/ blinds at 100k-200k there was plenty of play for Hall to try to get back in the match. That was one of those times where one got too greedy, and it ended up costing him (granted Hall might've won even down 10-1 in chips but that seems like a much bigger mountain to climb than being down 4-1 in chips).

Anyway I think Hall's hand is more interesting and brings up a lot of good poker concepts to talk about, notably the river fold. Everything up to the river was "standard" (I guess he could fire the turn as well, but in mtts chips are very valuable so you don't want to be barreling off like in cash games...you need to be a lot more selective in mtts). So Hall talks about his river fold and explains why (w/ lots of good poker stuff in it directly and indirectly).

He says he bet 2million because he felt like Oliver had an inelastic calling range, meaning Oliver was going to fold or call regardless of any bet amount. There is some truth in that, in that Oliver probably has trips or Ax a lot there and will call any bet amount (or fold to any bet if he had bp or a missed draw) but he could've held a 5 or a mid pp where Oliver would've had an elastic range. So I don't mind Hall's near pot bet at the river given his read.

Now what really impressed me was not only Hall's laydown but why he laid it down. When Oliver shoves the river his range is polarized to nut straight, boats or air (he'll just call w/ the same straight, doing anything else would be dumb). Hall knew this and even though a straight is a huge hand in hu play (absolute strength is strong as well), he realized the relative strength of his hand was weak given the river overshove. How did he realize this? Well he says when he bets big at the river, Oliver should know that he has a polarized betting range as well...to straights, boats, or air. So if Hall has a polarized range, then Oliver only needs to raise small to get Hall to fold the air portion of his range because Hall will probably call almost any raise w/ a straight. Yet Oliver goes for the massive overshove. So the thinking from Hall goes something like this, "well he should know my range is polarized w/ my big river bet so any raise will get me to fold air so he should raise small if he was bluffing, yet he's overshoving all in, and since any raise will get me to fold my air hands, he must think I have a straight and might be willing to call all in to his overshove, therefore he is overshoving for value w/ the nut straight or a boat so I must fold". Now that was some really impressive deduction on Hall's part and it all makes sense.

As you can see what seems like a tough spot can actually be broken down and the correct decision can be made if you really think about it, like Hall did. One thing he never talked about, which I think is critical in times like these, is the pressure or lack of focus that happens in such a big spot like this. I bet most poker players call off here either because they don't break it down correctly like Hall did, or they just feel tired or get antsy to try to double up (and bust). So that was impressive that Hall didn't succumb to the pressure or the moment (of trying to double up because he has such a huge hand himself).

The reason I bring this hand up is for a lot of educational reasons. Besides applying elasticity, inelasticity (not sure if that's a word really), polarization, betsizing, and reads, this hand shows how vital it is to stay in the moment and not get caught up trying to double up (or some other mistake). Imagine if we all took a step back when it was our turn in a hand and broke down the hand as best as we could (and ignored all the impulses to do something irrational), we'd win a lot more money.

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