Post: #51

(07-27-2017 07:49 PM)RatInTheWoods Wrote:  Don't buy into the bullshit that you are what you own.

Money is not your self worth.

You had money before, you can get it again.

Focus on who you are, your values and get back to hard work to make your way in the world.

Thanks Rat, my buddy said the same thing. He offered a few books to read on financial mindset and the like. It's just like girls or weightlifting or anything else, mindset is the foundation which you build upon.

It's not that I feel unworthy or have low self-esteem, but I do not believe I can make money, or become rich. It's probably years of feedback, but I must break this cycle.

(07-30-2017 08:28 AM)renotime Wrote:  Poker players go broke all the time. I had a buddy that built up his roll to 2MM at Commerce, lost it all, borrowed from a friend and built it back up to 2MM, lost 1.5 of it back and then quit.

If I were in your shoes I'd try to borrow from a poker friend and build my roll back up. If the games are still good in your area you should be able to build your roll back up.

You can lose a or make a lot of money quickly in PLO, as I'm sure you know. Stick to playing in good games and practicing proper bankroll management.

If you play poker and do FBA on the side you won't have to take any money out of the amazon business and it will grow a lot faster.

Games are okay, not great not bad. I am not the type of sick degenerate who can go on huge swings because of my play style. I play a fairly low variance style so these types of swings shouldn't happen that often.

Good bankroll management would be borrowing 25k from a friend and praying to God I run good at PLO. This is not a sustainable long term strategy, I am not good enough or bold enough to put myself or my friend at that kind of risk.

I am mentally exhausted from the swings and want to build something more solid going forward. I don't think I want to be a professional degenerate hedonist well into my 30's. A dealer told me about a house game he dealt at, 90k on the table he got called in after they had played for 28 hours. He dealt for 9 hours and they still continued. A lot of these regulars have families and stuff, and some of them just younger guys like me. But even if I got to the level of skill/bankroll I think I'd be happier doing other things.

All in all, I really appreciate everyone's input on these threads. It's given me a lot to think about and I can see a few paths I could realistically take going forward.

Post: #52

I get where you're coming from, but it might be a blessing in disguise. Being a professional gambler is for very few people. It's like that film Rounders, which I'm sure you've seen. There's the main character, chasing the one big payout, and then there's the family father grinding home to pay the bills at low stakes, low risk poker, night after night. Does the second scenario sound appealing? If not, probably give up poker. The problem with poker is that it requires your presence at all times. You might escape the 9-5, but you get another restrictive lifestyle. You're still not making money while you're not working. And it becomes work, quickly, as you probably learned. Then what is that work? Staring into a screen, doing low level math and clicking a mouse.

It's fairly simple to me. You either go all in for the big money, big tourneys only, or you do something else. The "grinders" tend to be autists with zero emotion, people who are completely able to separate the chips from the money. The kind of people, who even if they won a cool million would still be pimply faced nerds with unwashed clothes and perhaps hiring an escort once in a while.

Let's recap what you have learned from playing poker, that isn't poker:

- Ability to calculate odds and look at statistics
- An ability and willingness to exploit same "economics of scale" through levelling up
- Understanding simple primal trigger psychology
- Ability to grind out as a noob knowing you will get better, even when you lose money

I could tell you go into trading, but that's not for you. I think you'd be better served in online advertising. Namely buying display ads and search traffic. It's not that different. You crunch the numbers, instead of obsessing over "do I raise my 33s in early position, how often", you obsess over "do I need to tweak this word to that in the headline". Then you split test and scale. Like in poker, except you didn't have to be at the table, but it happened while you slept.

You're going to lose money, probably at least 1-2K USD before you become profitable if at all, but it something which fits your skills. I would recommend you StackThatMoney forum, not gonna link it, so you don't need to fear I'm trying to set you up for a commission. Good luck!

Post: #53

Bro, the best thing about crumbling, it's that you start all over again. Crashing in life hurts BUT YOU LEARN A LOT and when you build yourself up again you're in WAY BETTER SHAPE!

Post: #54

Thanks all for your sincere + positive feedback. I am playing at the casino getting my bankroll back up (just Hold 'Em) and will reevaluate in the next couple weeks assuming I get above the poverty line.

Post: #55

(08-03-2017 05:12 PM)RustyShackleford Wrote:  Thanks all for your sincere + positive feedback. I am playing at the casino getting my bankroll back up (just Hold 'Em) and will reevaluate in the next couple weeks assuming I get above the poverty line.

That's my man taking my advice!

Just for good luck, you get a rep point from me.

Aloha!

Post: #56

(07-26-2017 06:21 PM)Il Bersagliere Wrote:  

(07-26-2017 06:15 PM)Sebastian Wrote:  $25 is not a lot of money at all. Think of as you totaled Camry with no insurance.

Are you going to let Camry get in the way of your life?

He said 25k, silly billy.

Great advice, i just lost around $60K on the spec end of the market. I'm kicking myself as there were some tell tale signs (director selling!), but one can always rationalise these things after the event.

Like OP my confidence is shot. I like the analogy of the camry, but in my case it's a more of a Merc. Ok, Im not gonna let a totalled uninsured Merc define my life....

Post: #57

(08-03-2017 05:12 PM)RustyShackleford Wrote:  Thanks all for your sincere + positive feedback. I am playing at the casino getting my bankroll back up (just Hold 'Em) and will reevaluate in the next couple weeks assuming I get above the poverty line.

Good luck, have fun, run good bro!

A lot of solid advice has already been covered here, but one thing someone briefly mentioned and I forgot was starting your own social media marketing agency for small local brick and mortar businesses (IE restaurants, laundry mats, family doctor's / dental offices, etc etc) (IE running their FB / Insta accounts).

Although I have no direct experience with it, from what I've read the start up costs are super low, no overhead, it's a portable skill you can take anywhere, and generates cash-flow pretty quickly if you're willing to hustle to learn the skill set and then cold approach businesses to offer your services or at least a free trial. Once you show that you produce results / ROI they will be more than willing to cut cheques to you every month. It also is still early for this business model and the marketplace doesn't not seem to be saturated yet which means a first-mover advantage.

There are courses online that teach this, including Tai Lopez's social media marketing course...He posts testimonials and screenshots of his students' results on Insta all the time. There are probably solid courses on Udemy or Teachable as well...seems to be worth looking into.