trading & poker

I started out trading this year and managed to achieve a 83% ROI annualised (38% in 191 days).

My next step will be to get together a good trading stake so that I can trade fulltime. I think I can beat the market big time. I think I have a good feel for it and the skills required (analysing a situation, thinking in a broad perspective, etc).

I'm getting serious about poker and figured that would the best way to make some money to get together my trading stake. I worked as an IT-consultant last year and taxes & rent ate my earnings alive.

I started out this august and beat 1$/2$ Limit from the start. Unfortunately I lost my earnings to NL games. This week I'm taking another shot at Limit, including using PT, bonus-whoring etc. I want to move up to 3$/6$ by the end of the year.

Q1) What do think of the idea in general?
Q2) At the moment I'm out of work. Should I get a job again for some non-variant income? I'm getting unemployment benefit, which is quite a lot. (~150-200$/month)
Q3) When should I shift from my poker BR to my trading account? I guess I want to have at least 10G$ before cashing out.

I'm 24, got a B.Sc. and would like to do a M.Sc./Ph.D. but I don't have the money.

[Paluka]

For the love of god, get a job.

[zerosum]

[ QUOTE ]
For the love of god, get a job.

[/ QUOTE ]

For the love of god, post if have to say something and stay away otherwise.

My salary when I would get a job again, would be ~45G$. tax is about 18G$. So my net salary is about 27G$ for which I would have to work 45h/week 46weeks/year =~2000h/year. I have to substract extra expenses (car etc) ~3G$.
That would be an hourly rate of 12$.

This about the bottom end, what I can think I can achive playing Low Stakes LHE, not including moving up to mid/high stakes.

More importantly is the growthrate of possible earnings. In a standard average career I would guess that would be max 5%/year. This is the absolute bottom end of what I think I could achive playing poker.

Another benefit would be more free time to study the markets. My performance would improve perhaps 15-25%. That would be an extra of 1.5G$. The dole is an extra of 1.2G$.

To sum it up:
1.year:
day-job: 24G$
poker: 4 tables x 2$ (1bb/h)=8$x50h=400$x46weeks=18G$
+dole 1.2G$
+trading 1.5G$
=20.7G$

2.year:
day-job: 26G$
poker: 4 tables x 4$ (1bb/h)=16$x50h=400$x46weeks=36G$
+trading 3G$
=39G$

I the extra $$$ pays off the negative effects:
-> not much contact with people
-> parents won't be very happy

Any substantied critism will be greatly appreciated.

[MrBlue]

Are you day trading?

What products are you trading?

How are you getting past the PDT rule without 25k if you are trading equities?

1. No, longterm investing & a few shortterm trades.
2. European Stocks 1:1
3. I don't live in the US.

[Paluka]

The idea that you can beat the market, but you somehow aren't smart enough to get a better job than the one you describe makes zero sense to me. If you are such a master of trading and poker, you shoud be able to get a great job. From your posts, I don't think you know the first thing about poker or trading.

[ QUOTE ]
If you are such a master of trading and poker, you shoud be able to get a great job. From your posts, I don't think you know the first thing about poker or trading.

[/ QUOTE ]
1. Not in the country I live in.
2. How do you tell?

[zerosum]

[ QUOTE ]
For the love of god, post if have to say something and stay away otherwise.

[/ QUOTE ]

OK. You have asked for advice from strangers. You have thereby demonstrated that you are NOT ready to undertake your propoposed course of action.

Right. Anyone who has a clue doesn't use this forum! How about contributing something meaningful, proving a line of argumentation, instead of just spamming the thread.