As a starting point, NoahSD's article is something I will refer to extensively. I'd highly recommend reading it: http://www.nsdpoker.com/2011/01/mtt-pros/ . The follow-up also has more vital information: http://www.nsdpoker.com/2011/02/mtt_pros_2/
Second, a compilation by TT_Fold of the Pokerstars usernames of 40+ players ranked in the top 50 on Pocketfives only for turbos with a buyin of $44+ and with $1,000 or fewer entrants.
http://i40.tinypic.com/15e8ye8.jpg
There's no denying MTT Variance is brutal. One of the best players I know is a low edge, high volume grinder. He's probably the guy I respect the most in poker; his work ethic for both playing and studying is incred. He's now a well-deserved coach on a top training site. He still managed to have a 3 month downswing, grinding full time with more volume than nearly any other MTT reg out there. Eventually, it ended, but it's still obvious on his graph and I can remember the difference in his attitude at the end of the first month to the end of the third month. He bounced back, because that's what MTT players do - shrugged it off, moved on, back to the grind. Variance is an accepted and common problem, amplified by the riches found in large field Sunday tournaments and turbos.
As NoahSD says,I'll admit to loving tournaments. It's probably not a popular thing to say, but it is. People have told me I could make more money playing high stakes cash, or Sit N Gos, if I put my mind to it. But I don't want to, for so many reasons. I love the buzz you get when you get deep in the tournament. I love going deep in the same massive $11r 3 nights in a row and coming 10th, 11th and 18th just for the determination and drive it gives me to get there. I love watching new tables pop up, and playing on sites no one has ever heard of - Winamax. I love my stable chat, the banter about other regs and railing my friends taking down festival events.Quote:
Some people are definitely better off playing large-field MTTs than other games. I’ll make an argument below that almost no small/mid-stakes players fit into this category in the current climate. For mid/high-stakes player: If you’re insanely good at MTTs and you’re down to put in lots of volume, then play them. If you really enjoy large-field MTTs and you’re willing and able to deal with their ridiculous variance, then play them. If you’ve got a really sweet backing deal, then play them. If for whatever other reason you think you’d like to play them, I won’t pretend to know what’s best for you. But, make sure you seriously consider the extreme variance that’s involved
All that said, the variance is brutal. Personally, I've found the best way to think about it is your earnt dollars per game. If you have a 20% ROI, and you play a $10 ABI, you earn $2 a game in the long run. Keep clicking buttons to that level and get your volume in, and you'll make your $2 a game. Churn it out and enjoy your hourly. Working on your game, and improving your thought processes, will increase your edge which will increase your ROI, lower your variance and increase your hourly. Game selection - playing across 6 or 7 sites - will increase your ROI and hourly dramatically. Some sites are great, some sites are awful. Some you'll find you can't stand because of the software, and it's just not worth playing there. I've played on pretty much every site out there and have an opinion on the software, games and tournaments.
One last thing - tournaments are like video games. You play, you practice, you get better, you level up. You unlock the next tournaments above you. Repeat. The difference is, poker makes you cash. It's like a video game, for cash. The ups and downs, the high points and the low points, the experiences and social side of it are all part of the fun, and if you can't take the downs then you don't deserve to enjoy the ups.
