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#51
11-01-2007, 02:46 AM
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Re: What`s all part of being a pro?
Matt,
I think that is an excellent post. I couldn't imagine being a full time poker player for more than 5-10 years max for quite a few reasons and its surely isin't the most +EV thing to do. 
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#52
11-01-2007, 04:23 PM
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Re: What`s all part of being a pro?
[ QUOTE ]
[ QUOTE ] The simple definition of a pro in poker in my opinion is one who derives his income, and pays his living expenses with poker. [/ QUOTE ] so Phil Hellmuth, Daniel Negreanu, and any number of "pros" aren't pros. they don't derive a major portion of their incomes from playing poker. [/ QUOTE ] I think these guys are the exception to the rule, and the passive income they recieve is probably mostly all related to poker, even if it's not from playing. At one point, the majority of their income came from playing poker. Once poker became popular and they became icons in the poker world, well, they're going to make a lot of money because of it obviously.
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#53
11-01-2007, 04:56 PM
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Re: What`s all part of being a pro?
There is no such thing as a free lunch.
What's that? I should just get into real estate/stock market/small business and make millions? Positive cash flow real estate is hard to find right now (should be better in a couple years). A decent return on a portfolio is around 7-8 percent not adjusted for inflation, and can be acheived very passivley through cash, bonds, EFTs. Should take a couple hours a YEAR to do this. Without any inside information you will only beat the market by pure luck. Any small business takes a lot of time and commitment. Through some analysis and some guesswork with a solid business plan you could work out your EV and various scenarios and their probabilities. However, if you can make $500+ an hour playing poker right now and invest all non-working capital, odds are really against finding a better opportunity. Best off riding the poker train as long as you can and worrying about what you want to do in retirement in a couple years.
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#57
11-02-2007, 02:19 PM
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Re: What`s all part of being a pro?
you can make 10s of millions a year with stocks... traders are looking for greater then 200% a year
check out elitetrader.com.. there are daily log posted of daily profits and people are posting 100k a day [img]/images/graemlins/blush.gif[/img]
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#58
11-02-2007, 02:23 PM
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Re: What`s all part of being a pro?
to answer the OP on preparation:
- when you feel sick to your stomach because of a downswing, take a couple days off without the internet - ritual exercise or meditation prior to play - even if just thinking about a player who gave your trouble last time or an opponent flaw and your plan to exploit it - get daily exercise and sunshine
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#59
11-02-2007, 03:55 PM
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Re: What`s all part of being a pro?
Does anyone else find it ridiculous that there's some auto assumption that all online players play so over their head that a bad run could be disastrous or even that we are all capable of going broke?
Limon, u are from another time. We are not a crowd iresponsible degenerates anymore. Most high stakes nl players are very smart
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#60
11-02-2007, 06:26 PM
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Re: What`s all part of being a pro?
[ QUOTE ]
Does anyone else find it ridiculous that there's some auto assumption that all online players play so over their head that a bad run could be disastrous or even that we are all capable of going broke? Limon, u are from another time. We are not a crowd iresponsible degenerates anymore. Most high stakes nl players are very smart [/ QUOTE ] does anyone find it ridiculous theres a whole forum (or two)dedicated to online players who play so far over their head that a bad run is disasterous and results in them going broke? yes i am from another time but i live play and prosper in this era as well...
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