What it actually means to be a full time poker player? It sounds pretty good - you've got no boss, you can work whenever you want, it is possible to make loads of cash in short time. But is it that simple? What should one consider before going "all in" poker and why you (probably) shouldn't do it.
First, you lose job experience EV which might or might not be very high depending your country and your abilities. You can earn shit in first 5 years or so, but in 15 years you can become really good at what you do and even aim for CEO and fat paycheck. Can't do that in poker. Especially when you're college dropout to play full time.
This is a big reason why "living comfortably of poker" does not really work. I can make 2x what my friends make, but at the end of the race I'll be fucked. Simple.
Therefore, one MUST make it BIG. If you can make 4-5x your alternative 8-5 and you can save up relatively large sum, well, then poker can be +EV decision. This is why I'm eager to leave NL50 asap. NL100-200 is threshold where it becomes BIG for me. Note 850 eur post tax avg salary here in Latvia (now run the numbers in your head for your country..)
How long will you play poker? If you're playing full time 5+ years and still grinding same micro/low stakes, well, you might want to reconsider your life decisions.
I don't get social benefits, health insurance. No payments for my pension fund. Reason why poker will work out for me is combination of my country, my family background (read - no inherited wealthiness) and my IQ. I'm no genius, but my intelligence is way wayyyy above average. I went through school, gymnasium and even Uni (while I was attending it) as top of my class without a sweat and any effort.
Also, you need a plan what to do after poker. SNAP worldwide Black Friday. What now? Do you have exit plan what to do after poker? What I hope to achieve is roll of 50k-100k, end move to trading. Even if I BE first year, 15% ROI 2nd year, I will become really good and achieve 50-100% ROI in 5 years time just because I'm good. And then I'm set for life before I'm 30. This is my plan and I will achieve it.
So, keeping this all in mind, If you live in 1st world country, why would one ever gamble in poker world? If you come from East block or 3rd world country, then yes, poker can be +EV decision. You can say that guy like Fedor made millions in poker and he's Austrian, but he'd make the same and much more in private business or finance marked just because he's extraordinary smart. If you can make it to NL200+, you probably have skill set to get a very well paid job in 1st world country where you make more than from poker.
I want to add that there is nothing wrong living paycheck to paycheck. We sleep in different beds but the sleep is the same. Just that poker will never miraculously bring the monies that one could imagine.
I've learnt so much from playing poker full time. I don't mean game theory. I mean mental game, risk taking, coping with all the beats, managing my bank roll, managing my time, balancing poker / life, creating sustainable daily routine etc etc. I would never get that much practical knowledge in any business school and I'm grateful for that.
I hope someone will find this useful. I probably missed / skipped a lot as I think faster than I write.
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September goals1) Nl100 shot(s);
2) Start studying again. I just ground my way back from near busto, but now I need to work to sustain (create) edge over regs. Especially my HU game has gotten weak. I haven't decided on specifics, but I think I'll spend like 30 min each day or 1h every 2nd day. I'll start by going deep in Russian bot ring analysis. Atm I'm afraid of them but I want to own them.
3) WAKE UP 8AM, START WORK 9AM --- MUST ACHIEVE!!!!!!
4) As there is no tracking in Chinese site, keeping up with volume goals will become hard. 50k+ again.
5) PLO?
GOGOGOO