Welcome to the second installment of the pathways series. For an explanation of what this series of articles is about please refer to my blog, Fox's Diary of an Online Pro, here on pocketfives and look for the entries with "Pathways" in the title. In this installment, we'll be discussing no-limit cash games and providing you with all the tools you need to get started on the right path to making a living playing them. <READMORE>

You will notice many similarities between this Pathway and the Limit Hold ‘Em Pathway. They are, after all, the same game, and many of the tools you’ll need are the same. But the one difference—the betting limits—is sizeable, and makes for some major adjustments in style, play, and bankroll requirements.
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The Pathways

Before you get serious about playing poker professionally it is suggested that you read Fox's blog entitled "Taking the Plunge" and read Mark Blade's book, Professional Poker Vol. 1.

Done with those? Still interested? Okay.

Playing no-limit Hold em is a great way to make a living playing poker, especially now, with such a huge leap in interest in the game. It is far and away the most popular version of poker running today, and on any site, at any time of day, you will find numerous tables of various size games running. Those who are easily bored or highly competitive may find it easier stay focused on no-limit than grinding out a profit playing limit poker all day long. The potential winnings are nearly uncountable as well, with some of the best players making over a million dollars a year sitting in front of a computer and working whatever hours are convenient for them. You'll need some talent and a great deal of self-control to make that kind of money, but with good study habits almost anyone can make a living playing no-limit.

You will need -

No Limit Texas Hold Em by Brad Daugherty and Tom McEvoy - A great beginners introduction to No-Limit play. While we don't agree with every play they recommend we do like the majority of the answers to the problems they present. This book will give you some good ideas on how to think about the game.

Bob Ciaffone's No-Limit and Pot-Limit Hold Em - There has actually been very little written on no-limit cash games compared to the tremendous amount of material that is available for no-limit tournament play. This book is probably the best thing we have found.

Super/System 2 by Doyle Brunson and friends - The no-limit section of this book could get you in trouble in the lower levels if you're not careful so adopt Doyle's advice slowly, and by the time you reach the higher levels where his style really shines, you will have it down cold.

PokerTracker (PT) - PokerTracker is a program that allows you to track your opponent's play as well as your own, and even display your opponent’s statistics. You can get the program at www.pokertracker.com and we highly recommend an add-on program called PAHUD, which you can download for free at www.pokeracesoftware.com. PokerOffice is also a very good program that performs the same functions as PokerTracker.

A subscription to at least one poker-coaching website - No-Limit is not as easy to learn from a book as limit poker, and having some personal help will move you along much more quickly. We, of course, recommend our site at www.pokerfox.net as a good inexpensive way to get started in your no-limit education. A membership to www.realpokertraining.com will also be a big help, and visual learners will find that the videos on no-limit cash games get them up to speed very quickly. A new site at www.cardrunners.com looks very promising as well, and one of their instructors (Taylor Caby aka Green Plastic) is one of the biggest no-limit cash game winners online. Money spent at any of these sites will be a great investment in your future play, and joining all three should increase your winnings dramatically in a very short period of time.

You might also want -

Inside the Poker Mind by John Feeney - This is the best book we have found on dealing with the psychological side of poker. If you find yourself stressed out and on tilt this book should help.

A few lessons - Looking around the forums should yield a good number of solid players who offer one-on-one lessons. Some names we recommend are Fox, Seal, JSBYUN, GotSkillz and NSXT2, but there are many other excellent teachers here on pocketfives. Bob Ciaffone himself also offers private lessons and is regarded as one of the very best poker coaches in the world.

A subscription to Poker-Edge - This program is of questionable legality with the sites it tracks, so use it at your own risk. PokerTracker can be used to the same effect and without risking the wrath of the poker room where you are playing, but Poker-Edge is a nice shortcut.

Poki's Poker Academy. This nice little piece of software won't make you an expert, but it will get you up to the intermediate level very quickly.

Getting Started -

Your first step is to hit the books. It doesn't hurt to take notes in a notebook reserved especially for poker knowledge, and after you read each book thoroughly make sure to review them frequently. You'll want to start very small, as no-limit really takes experience and the knowledge in the books will take some time to sink in.

While you develop your game you can get used to the software. Spend a day or two learning how to use PokerTracker. The tutorials and forums at pokertracker.com should provide all the information you need, and feel free to ask questions on the forums; someone usually drops by to answer them pretty quickly. Play for a few hours while you get used to using PAHUD and make sure everything is running smoothly.

When you go to bed or to work, really any time that you are away from the computer for a significant amount of time, you can leave PT running and importing observed hands. Now when you sit down at a table there will be a good chance that you already have some statistics on some of the players. Sitting down with a player when you already have a large sample of hands on them is a big advantage, especially in no-limit

You may want to play multiple tables, but for no-limit play it isn't necessary, and at the higher levels most players stick to one table so that they can study their opponents and stay focused on the game. At the lower levels playing very tight preflop should yield a nice profit as you develop the skills you need to move up. It's also good to remember that bluffing should be done very carefully. The books will teach you how to make the decision as to whether a bluff will be profitable or not, take that knowledge and use it wisely so you don't bluff off your bankroll.

Avoiding Tilt -

While going on tilt or simply playing less than your best game can be detrimental to your bankroll in any form of poker, it is in no-limit where the most damage can be done. The importance of every decision is multiplied in no-limit poker, and a few bad decisions can cost you a great deal of money. If you are prone to mood swings or have a problem dealing with your anger then you'll need to find ways to keep your emotions under control while playing or no-limit poker will simply frustrate you instead of paying your bills.

Moving up -

The changes in level will be fairly dramatic compared to other forms of poker and you'll need to be well prepared for each one to avoid losing money. At the lower levels your opponents will be so weak that simply playing tight solid poker will win the money. Once you move up to the $200 buy-in games and above you will find tighter and more aggressive players which you need to watch carefully. At the mid levels you will find that solid play isn't enough, and you'll want to pay close attention to your opponents to exploit any weakness they have.

At the highest levels the game becomes an art form, and most of those who attempt to play in the biggest games quickly go broke. Remind yourself that a very nice income can be made at the $1,000 buy-in games and taking a shot at the bigger games should only be done when you are certain you can beat them and your bankroll is big enough for the game.

Bankroll considerations -

No-Limit Hold Em requires a significant bankroll, and more players go broke through bad bankroll management in no-limit cash games than any other form of poker. We recommend a bankroll of at least 25 maximum buy-ins for the games you are playing to avoid going broke during prolonged bad streaks. Serious pros often maintain a larger bankroll than this because of the increased variance at the highest levels and if you are playing for a living 50 buy-ins is not unreasonable.

Feel free to drop down a level if you need to. The competition may be better than you think at your current level and there is no shame in moving down and working on your game a little before you move back up.

Income -

A likely income range is very hard to predict in no-limit cash games, especially with such a large difference in the quality of play from one level to the next. In a $25 buy-in game it is not hard for a good player to make fifteen big blinds per hour or more. In a $10,000 buy-in game however, two big blinds per hour may be tough to achieve. There is a great deal of money to be made playing no-limit poker, and a quality player who works hard on his game will make a very nice income.

Continuing study -

You must continue to study. The game changes every hand and there are a near infinite number of nuances to master. There are at least fifteen excellent books that can help you immensely as you move up in levels. Most of the recommended reading for no-limit involves controlling yourself emotionally and understanding your opponents. We think John Vorhaus's Killer Hold Em Handbook, Sklansky's Theory of Poker, and Mason Malmuth's essays collections are all very good places to start.

Having a friend who is on a similar journey is always helpful as well. Neither one of us would be where we are without having the other around to talk to and share knowledge with. If you and your poker buddy can spend an hour a week watching each other play and critiquing each other you will find your game continues to improve at a swift pace.

You will also want to review your hands in PokerTracker every few weeks to find the leaks in your game and plug them. It's always interesting to suddenly discover that you are losing money with AQo in early position and start playing it differently. This is the best function of PokerTracker, and it will help you whip your game into tiptop shape.

We urge you to treat poker (especially no-limit poker) as a very serious thing. Those who work hard on their game can literally earn millions while sitting at home sipping on iced tea and listening to their favorite songs. Those who read a book halfheartedly and pay little attention to bankroll management will pay for the yachts of those who study hard.

Feel free to contact us at Fox@pokerfox.net or Hatfield@pokerfox.net and we'll try to answer any questions you may have. Don't forget that the forums here on pocketfives can be a very good source of information as well, with some of the best players in the world answering questions frequently.

Keep an eye out for upcoming Pathways articles on tournament poker, sit and go tournaments, Omaha, propping, and bonus programs.

Thanks for reading, now get back to the tables!

Fox and Hatfield
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