For those that are members of twoplustwo, this name here is the same name there. I read every reply and put everything everyone said in consideration. I won't post here as much until I save up at least $200,000. Reason being is I want to save at least $120,000 to have a bankroll to play in the $25/$50 No-Limit Hold'em(NLHE) with $5000 max-buyin. $120,000 is 25 buy-in's (25*$5000). For those that play poker, and are winnning players, the general rule for proper bankroll requirements in No-Limit Hold'em cash games is 20 buy-in's. I want err on the side of caution which is why I chose to stick with 25 Buy-in's. If I were to lose 5 buy-ins ($20,000) below the 25 Buy-in requirement($120,000), I will drop below that level (which would be the 10/20 max-buy-in 2000 NLHE) until I build the 25 buy-in requirement back for the 5000 max-buyin, no if's ands or buts. $50,000 would be used for stock trading and the remaining $20,000 would just be left in cash. P.S. I've been getting a lot fo encouraging PM's and I'm thankful for that. And for those that are interested, my hourly rate fell to $200/hr and I currently have $40,000 saved up. Here are my poker results for 1000 max-buyin NLHE results since March 25, 2005(which is also the day I began playing 1000 max NLHE)till April 12, 2005. $16,656.14 18,542 hands 80 hours 23 minutes $207/hr. $0.89/hand Once again thank you everyone and may everyone make millions trading.
If your a stock broker you probably have one up on of the people that are here giving you advice. If you plan to make millions you probably will have to risk more than $5,000. I suggest you trade futures contracts instead of stocks, you will find you can have a bigger upside. Try the 30 yr bond or S&P500. Being a winning poker player might mean you will have a high aptitude for trading.
The few months I spent learning to play online poker, and eventually achieving profitability, have got to be the most boring few months of my 25 years adult working life. I could have happily shoved railroad spikes into my eyes playing that game online. I'm way happier trading. My point is, I think it's a good move you're planning.
Very Very true, online poker is sickly boring.. Live games with a good group though, that can be a lot fun.
I'm 22 and currently live with my father (my mother passed away in '91) so i have no expenses. Both my younger brother and sister are in college. I'm proud to say my sister had a 4.0 GPA in her first semester of college. I have no debts, I decided to drop college and devote my time fully to poker. It's funny that I'm dropping college while my younger brother and sister are persuing their college degree. I see the bigger picture. As soon as I save up $200,000, which I'm estimating to save before the end of this year, I'll use $50,000 to start trading right away. So until then, I'll be lurking around the message boards and asking questions from time to time.
interesting thread. i too play the NL $1000 tables at party, though i play the shorthanded tables 95% of the time. i'm up $23k in under 4 weeks, and could be up maybe twice as much if i didn't throw money away so often. there are people making much more than me as i see them cleaning up. chetwins (believe rebirth renamed), nitemare, and gaskiello (sp?) all make 15-25k a week. rebirth said he made 100k last month, without a down day, and i beleive it, as i played with him the entire time. he plays 4 shorthanded tables at a time. there are several others that are making 5-10k a week. they only opened these tables a month ago, and it's too small a sample size to project any number out for any length of time. if i can average 2-4k a week (currently 6k), i'll be happy. i play 2 tables usually, sometimes more, sometimes just 1. i trade stocks as well, and am up 225-230k so far this year. hopefully i can make 500k this year trading, and 100k from poker. again, too early to tell and this may not happen, but that is the goal. the other thing is that this is the golden age of poker. is it here to stay? will there be a consistent flow of new players, losers, to fund the winners. or will these $1000 tables become much tougher, like they are on pokerstars. they are already tough sometimes, and i often know very well every person on a given table is profitable. table selection is key. if you are interested in even higher stakes, royal poker (a prima skin) has $100-200 NL poker. average pot size was a ridiculous 4500. people make or lose $25k-50k in a night. obviously, ultimate bet has $25-50 NL.
Glad to see your still kicking ass. Because of posts like this & the "Poker and the Beginning Trader" thread. I finally gave in & took a look at this poker thing. Glad I did! Oh by the way, you should think about selling your old trading journal from MSN. If I was a new trader I would pay to read about someone starting out trading a few hundred shares a day, & in less then a year, one of your last posts you had traded 170k shares in a day.
This is really very simple. There are plenty of people making a lot of money trading and there are plenty of people making a lot of money playing online poker. The key difference is online poker claims can be verified quite easily with no inconvenience to the person other than posting their (PartyPoker or skin) screen name on this thread or PMing it to me. That will solve all doubt. I play online poker, profitably. None of you big dogs need to worry about me, I hang out at 50 and 100 NL. However, I profile relentlessly in order to find the attributes (statistics) of the top earners at the top levels. I have tracked over 50,000 players. I track 12 tables at a time. As you know, there just aren't that many 1000 level tables, and even fewer shorthanded ones. If what you claim is true, it is almost impossible that I don't have history on your play. If somehow I don't, I can track you live to verify. I'll be waiting.
I'm a winning Poker player and avid 2+2 poster also. I've been unable to make money trading. I became interested in trading way before Poker and I've been grinding down my reading account slowly for several years. One thing that Poker offers right now is the ability to learn very cheaply. I started at the micro-limits (.05/.10), really learned the game and built my bankroll slowly (I play 2/4 & 3/6 Limit HE now). I'm wondering if any of you see that opportunity anywhere in the trading universe. I'm interested in the tradersgames concept and will look into that. Does anyone know of any similar sites?