I've dropped about $10k from my peak bankroll about two months ago. I've always been a little bit skeptical of the people who talk about 20 buyin downswings like they're just part of poker, but I ain't no more. Some thoughts I have and lessons I've learned...

1) 2/4 and 3/6 6max at FT are tough games. El dee oh, but worth reiterating. There are very few big fish in the game right now. To make money you need to play disciplined poker, get good reads and be able to exploit them. My edge (and yes, I believe I still have one) comes in small and medium pots. It's VERY hard to win stacks right now unless you cooler someone or it's a 60/40ish situation.

2) The biggest leak in the midstakes player pool is loose calls. Again this is obvious (and probably true in most games), but worth mentioning because everyone thinks they need to start bluffing like crazy when they move up past 1/2. Bluffing is important against tight regulars who haven't seen you do anything spewy, but without a read or a good image, value betting is >>>.

3) Light 3betting may be overrated. I'll get some shit for this one, but I'm honestly starting to believe it. And it's for one of the same reasons sauce gives FOR 3betting in his post-uigea strategy post: there's no 3betting hud stat yet. Since there's no hud stat, and 3betting is so common at these stakes, everyone assumes that every other regular is a light 3bettor (even ones with "tight" 18/16 stats). This means they 4bet lighter, call lighter and float and c/r more flops. What's the obvious compensation? Tighten up your 3betting range. I guarantee they're not going to notice without a hud stat. Plus, calling with some hands you might 3bet allows you to take advantage of another common leak: c-betting too often. And the fish that do exist are usually weak loose/passive players, and by calling pfr's you keep them in the pot for post-flop trips to valuetown. I think sauce's guide is theoretically sound and puts a lot of pressure on your opponents, but it creates a lot of difficult, marginal decisions when you don't immediately win the pot.

4) I play too impulsively. It's amazing that the same leaks I identified 6 months ago at 0.50/1 and 1/2 haunt me today. I make bluffs and calls that I INSTANTLY know are bad, but I don't take the time to talk myself out of them. Last night I was having a solid session, playing really well and undid all that good work with two bad push semibluffs. I'm working on some solutions, but advice is appreciated.

5) I'm really glad I don't play poker for a living. I've never seriously entertained thoughts of going of pro, but of course I've fantasized, especially when I moved up to midstakes and ran sick hot for a couple of months. It's hard enough losing $10k when you've told yourself you have it to lose, but if my poker bankroll was my liferoll, wow, that would suck.