You have probably heard stories about how Chris "Jesus" Ferguson turned $1 into $20,000, and how he is trying to do it again.
If you log into Full Tilt Poker and search for some of your favorite professional players, you may wonder why you see Chris Ferguson playing freerolls or slumming it at the .01 / .02 No Limit tables. Surely someone as successful as Chris Ferguson could hold his own at the $300 / $600 No Limit Hold'em games, and have the bankroll to do so?
Without a doubt. Ferguson's bankroll would swallow many of the "top" player's bankrolls. But that is not why he plays at these low levels. To understand why he is doing this, you need to know Chris Ferguson. You need to know that he is extremely analytical and adverse to risk. So he developed this challenge for himself, to turn $1 into $20,000, and he succeeded. Here is how.
It all started with $1. The first time he tried it, Ferguson immediately lost his dollar playing Omaha Hi/Lo. But then he started again with $1, then time focusing on No Limit Hold'em. This time around, he started to see success, and he did this by sticking to a strict bankroll policy.
He never allowed himself to buy into a cash game with more than 5% of his bankroll. If, during that game, his stack was more than 10% of his bankroll, then he had to leave the table, immediately. He also never allowed himself to buy into a MTT for more than 2% of his bankroll. If he busted his account, then he would play freerolls in order to try and get some real cash in his account, so he could start over.
Was he successful? Yes. It took about 6 months total, but Ferguson turned $1 into $20,000, following strict bankroll rules that he had put in place. People often will play above their bankrolls, which is the reason that so many people will bust. I mean, if you have a $500 bankroll, can you really afford to be playing $1 / $2 No Limit Hold'em? The answer is obviously no. Strict bankroll management and a solid game will get you far; it might even get you $20,000 in six months.
Filed Under: Random Poker News