Started with a $1/$2nl challenge, now we're here. - Page 310 - Poker Blogs and Goals -- Two Plus Two Poker Forums

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Started with a $1/$2nl challenge, now we're here.

View Poll Results: SO WHAT DO YOU THINK IS A REALISTIC ANNUAL EARNING OF AN "A" PLAYER GRINDING $1/$2NLHE?

LESS THAN $22K

392 12.64%

$22K TO $28K

453 14.61%

$28K TO $34K

505 16.29%

$34K TO $40K

528 17.03%

$40K TO $46K

295 9.51%

MORE THAN $46K

928 29.93%

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02-13-2019 , 11:23 PM

#7726

Alpha Fish

Pooh-Bah

Join Date: Aug 2008 Posts: 3,829

so $45K loss was not enough? this is throwing good money after bad

Quote

02-14-2019 , 12:22 PM

#7727

tswpoker1

old hand

Join Date: Aug 2008 Posts: 1,979

^ don't think the loss was that big was it? Did the shares split?

Quote

02-14-2019 , 12:55 PM

#7728

bahbahmickey

Carpal \'Tunnel

Join Date: Mar 2011 Posts: 15,264

Quote:

Originally Posted by Alpha Fish

so $45K loss was not enough? this is throwing good money after bad

There is no such thing as good money when it is in BS's hands unless that money is in the form of chips.

Spoiler:

Quote

02-14-2019 , 01:26 PM

#7729

Alpha Fish

Pooh-Bah

Join Date: Aug 2008 Posts: 3,829

Quote:

Originally Posted by tswpoker1

^ don't think the loss was that big was it? Did the shares split?

$1.80 x 25K shares, unless he bought more on the way down which he loves to do. wouldn't be surprised if the whole account was wiped out

Quote

02-14-2019 , 01:59 PM

#7730

seamsaclean

centurion

Join Date: May 2013 Posts: 149

It can’t be good. He has no clue.

Quote

02-15-2019 , 12:01 PM

#7731

sleepyguy

enthusiast

Join Date: Feb 2019 Posts: 66

He posted most recent position at about 30k... which is down by now as MNGA is down to $0.86 currently.

Quote:

Originally Posted by tswpoker1

^ don't think the loss was that big was it? Did the shares split?

Quote

02-15-2019 , 12:57 PM

#7732

weswag

banned

Join Date: Sep 2015 Posts: 107

RIP Butterfly

Quote

02-15-2019 , 02:00 PM

#7733

CallyGal

centurion

Join Date: Dec 2012 Posts: 170

What am I missing here?

Quote

02-15-2019 , 04:00 PM

#7734

BigSoonerFan

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 11,214

Quote:

Originally Posted by CallyGal

What am I missing here?

Just losing more money on MNGA.

Quote

02-15-2019 , 04:03 PM

#7735

ohsnapzbrah

Pooh-Bah

Join Date: May 2012 Posts: 3,936

Quote:

Originally Posted by BigSoonerFan

Just losing more money on MNGA.

??? Looked like he bought at under $1. 7% drop on the day, unless I'm missing something, doesn't seem terrible.

Quote

02-15-2019 , 04:26 PM

#7736

Franchise5

adept

Join Date: May 2013 Posts: 753

Quote:

Originally Posted by ohsnapzbrah

??? Looked like he bought at under $1. 7% drop on the day, unless I'm missing something, doesn't seem terrible.

7% of 30k is a 2k loss after. After losing somewhere from 20k-40k last week it's not good.

Quote

02-15-2019 , 04:28 PM

#7737

iTzLifestyle

Carpal \'Tunnel

Join Date: Jul 2011 Posts: 8,081

In b4 manga is at $4

Quote

02-16-2019 , 12:25 PM

#7738

ButterflySymmetry

Pooh-Bah

Join Date: Dec 2012 Posts: 5,172

Quote:

Originally Posted by iTzLifestyle

In b4 manga is at $4

Chuckle.

Quote

02-16-2019 , 12:29 PM

#7739

ButterflySymmetry

Pooh-Bah

Join Date: Dec 2012 Posts: 5,172

At a crossroads and been thinking about the next steps. Do I believe in MNGA? Am I willing to lose stacks? Shd I go to cash...Wait on a better NIO entry?
No. We stick w MNGA at least another week. This coming week will lay the road for me.
#wegamble

Oh we’re in a 12$k margin call too.
Anyone know how long I have to settle this? I realize I can’t buy stocks during margin call, but can I hold steady for a while? Options r selling stocks or deposits to cover call. I don’t wanna sell anything right now, but how long before they auto sell it for me?

Quote

02-16-2019 , 12:44 PM

#7740

icanadd

centurion

Join Date: Aug 2007 Posts: 120

Quote:

Originally Posted by ButterflySymmetry

Depends on the terms in the account but usually they sell your stock to cover the call if you don’t act before the market open or close depending on the account.

Some have a set number of hours but usually you can’t just wait it out. Should be in RH terms how long you have

Sent from my iPhone using Tapatalk

Quote

02-16-2019 , 12:45 PM

#7741

BigSoonerFan

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 11,214

on a side note, when does HSI open back up?

Quote

02-16-2019 , 12:50 PM

#7742

GatorXP

old hand

Join Date: Apr 2005 Posts: 1,887

Wsop event in Hammond next week $500k guarantee flights start on Thursday.

Quote

02-16-2019 , 01:39 PM

#7743

ZippyThePinhead

adept

Join Date: Jun 2014 Posts: 948

Quote:

Originally Posted by ButterflySymmetry

Jesus christ man! You are ****ing around with 6 figures day trading and you don't even know how your margin account works?

Sent from my SM-G955U1 using Tapatalk

Quote

02-16-2019 , 02:42 PM

#7744

Hellmuth was right

Pooh-Bah

Join Date: Aug 2016 Posts: 5,799

Ray, read this article

https://www.marketwatch.com/story/tr...000-2019-01-22

Quote:

“He bought 4 different types of options that gave him a $300k credit. At the end of expiration, like 2 years from now, he would’ve collected $40k or $50k. The way he bought it was set up like a hedge, so it didn’t matter if the stock went up or down because he had options that covered him no matter what. But then 283 of those options were exercised by the guy on the other end of his trade meaning he had to come up with 28,300 shares of that stock which he didn’t have. I guess then Robinhood took the liberty of exercising his call options to pay for the options that got exercised from him and then it was just a whole ****show after that.”

Robinhood is going to sell the shares for you if you don't cover the call

Quote

02-16-2019 , 04:39 PM

#7745

ButterflySymmetry

Pooh-Bah

Join Date: Dec 2012 Posts: 5,172

Quote:

Originally Posted by Hellmuth was right

Robinhood is going to sell the shares for you if you don't cover the call

I realize that, but when will they execute?
I can’t seem to find anywhere on RH.
I’m hoping they give it some time, but prob not. It’s a bad formula when I lose $ w margin then hv to cover a call before I can see a run up w margin. The run up now will come w $12k less of shares.

Quote

02-16-2019 , 08:04 PM

#7746

Duffman08

adept

Join Date: Nov 2008 Posts: 1,011

They will cover it the moment they think they have any potential to take a loss on their end.
Not good because if this thing wicks down Monday or Tuesday you could get forced to sell and then not participate in the bounce back up.
You had plenty of cash to trade with man...no reason to use MARGIN!
The guys I know who used margin with their BTC trading / investing are now broke/quit crypto and those who refuse to touch margin have stuck around for the most part to learn/adapt.

Quote

02-17-2019 , 06:01 PM

#7747

Alpha Fish

Pooh-Bah

Join Date: Aug 2008 Posts: 3,829

Quote:

Originally Posted by sleepyguy

He posted most recent position at about 30k... which is down by now as MNGA is down to $0.86 currently.

his entire prior position in MNGA was liquidated - just compare the average price before and after. probably took out another HEL to fund his gambling habit, let's set some more money he doesn't have on fire!

Quote

02-18-2019 , 02:26 AM

#7748

bahbahmickey

Carpal \'Tunnel

Join Date: Mar 2011 Posts: 15,264

BS, do you actually think you are better off trading yourself compared to an index fund or letting a pro handle it or is this all for funsies or just to gamble?

Quote

02-19-2019 , 02:12 PM

#7749

sddunes

centurion

Join Date: Jan 2011 Posts: 111

Quote:

Originally Posted by bahbahmickey

BS, do you actually think you are better off trading yourself compared to an index fund or letting a pro handle it or is this all for funsies or just to gamble?

Index funds are the safer investment but take a lot longer to see significant gains. I liken it playing poker where single stocks are like playing pit games. He’s looking to make much more than the $5-10k you may get in an index fund with what he’s investing.

Quote

02-19-2019 , 07:39 PM

#7750

ButterflySymmetry

Pooh-Bah

Join Date: Dec 2012 Posts: 5,172

Quote:

Originally Posted by bahbahmickey

BS, do you actually think you are better off trading yourself compared to an index fund or letting a pro handle it or is this all for funsies or just to gamble?

Yes yes yes

Quote

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