After busting out of two big Sunday tournaments yesterday, I decided to register in a late tournament —  a very, very late tournament.

Because it’s so late, and I was on the end of a 12-hour poker session, I decided to play it fast and loose in the first few levels — thinking that I didn’t want to grind it out for three more hours just to bubble. So naturally, as I was drifting off to sleep, I was timing out but winning huge pots.

Down to the money, I was the chip leader by a huge margin and it looked like I was going to book a solid tournament win until … I fell asleep.

I woke up about three hours later and looked at my computer, but all that was there was an empty final table.

Though I booked a solid third-place finish, I could have earned the $20,000 first-place prize had I stayed awake — or at least brokered a deal, due to my tired state.

But I wasn’t thinking clearly, and I didn’t budget myself enough time to play well in the tournament.

Let this be a lesson: Always give yourself enough time to play a tournament. The big ones can last up to nine hours. Don’t register in a tournament that you know you’ll have to sit out from when it’s time to go out to eat with friends and family. Don’t register in a tournament at 3 o’clock in the morning when you have to work at 9.

Think of each tournament as an investment in time and money and I think you’ll see the results.