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30K Bankroll Busto

Papabear Posts: 1Subscriber
edited February 2018 in Beats, Brags, and Variance
Hello all, first post here.

This is sort of a brag and a beat all at once. My most humbling financial life experience, to say the least.


I have been a full time 2/5 pro for 5 years. I had logged about 5k hours or so with a 55/hr winrate. Also around 5k hours of 1/2 with a 35/hr winrate. For January of this year I had been running so hot I've been averaging 105/hr I haven't felt the need to put volume in so I've just been playing maybe 20 hours a week.


January of 2017 I decided to become a part time trader and started making investments with my bankroll. I made huge mistakes and lost 10k the first two months, which I ended up slowly winning back and breaking even around Christmas. Recently I had put my bankroll + margin into SVXY (Short Volatility ETF) and on Feb 5th it made history when it lost nearly 90% in 1 or 2 trading days.

Needless to say, that was a huge mistake and I've since decided to quit trading entirely and to get back to what I know I can do: play poker. Unfortunately I'm starting with no bankroll and 4k in debt.

Luckily for me, my significant other is willing to support me (to an extent) to rebuild. I've found a way to lower my living expenses and plan to be extremely conservative while grinding my way back to being able to play 2/5 in the future. But for now, I will be a 1/2 player until I have my 4k debt cleared and 8k to my roll.

Don't take what you have for granted. Sometimes life hits you with some really shitty variance.



  • Jesse_The_Suit Posts: 493SubscriberProfessional
    That's a rough spot Mike. Thankfully, you have a supportive partner and a great win-rate. Good luck man!
  • FuzzypupFuzzypup Posts: 2,491Subscriber
    Day time trading is a LOSING proposition. You want to invest open up an IRA in your and wifes name. Dump the winnings in there. Then research solid stocks and invest for the long term.

    I usually go for solid dividend winners along with some higher dividend risking REIT stocks. So far so good.
  • Jesse_The_Suit Posts: 493SubscriberProfessional
    @fuzzypop you need to get on slack, there is s gentlemen here with whom you need to talk about day trading.
  • FuzzypupFuzzypup Posts: 2,491Subscriber
    Not my cup of tea. I am financially conservative.
  • Dragon-Ash Posts: 203Subscriber
    edited May 2019
    There is literally zero reason to buy individual stocks.

    Three things matter when it comes to personal finance investing: fees, taxes and time.

    Thankfully, you have a lot of control over those three factors. Invest 10% (or whatever you can afford) each month, in low-cost ETFs or mutual funds, ideally in a tax-efficient way - 401(k)s, IRAs etc. I'd find four low-cost ETFs from Vanguard - US equities, overseas equities, emerging market equities and then the fourth of your choice - maybe commodities, maybe bonds, maybe gold or metals etc. The younger you are, the more you should have in equities (especially emerging market equities). Set up an automatic deposit each month. Set it up, then forget the password for your brokerage account. Spend an hour or two reviewing things once or twice a year.

    For 99.99% of people, spending any more than a few hours a year on investing is almost always a losing proposition.

    I can't stress enough how important it is to keep costs down. Think of a fee of anything over 0.2% like a $1/2 poker table with a $7+1 rake - it's not beatable in the long run.

    Invest each month, in low-cost, diversified ETFs, consistently for 20-30 years, and it will be very very hard to not end up a millionaire.

    Much like poker, the key is time and discipline. It's ridiculously easy to end up a millionaire if you take your time, it's the 'Real Soon Now' part that's hard.
    by 1Oback2
  • BartBart Posts: 6,048AdministratorLeadPro
    @dragon-Ash do you ever frequent the low content section of Discord :) ?
  • Dragon-Ash Posts: 203Subscriber
    Just started using Discord for another hobby - will check it out. Txs.
  • FuzzypupFuzzypup Posts: 2,491Subscriber
    Vanguard S&P500 index fund. Low cost index fund. I believe no one can beat the return.

    Buffet put out a $1m bet, one hedge fund manager took it and lost over the 10 years bet.
  • BartBart Posts: 6,048AdministratorLeadPro
    Fuzzypup said:
    Vanguard S&P500 index fund. Low cost index fund. I believe no one can beat the return.

    Buffet put out a $1m bet, one hedge fund manager took it and lost over the 10 years bet.
    I prefer the total stock market index that a lot of these firms have. Its just a slight difference but gives you more exposure than just the large caps. And firms like Fidelity now have 0% expense ration funds.
  • FuzzypupFuzzypup Posts: 2,491Subscriber
    I'll check it out
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