Quote:
Originally Posted by JasonInDallas
It's quite possible that it could be seriously crippled or even erradicated as a viable way to make a living for Americans.
The main reaso I ask is perspective, namely that there are a lot of young people here who seem to think that making a thousand or more dollars a week for easy (not simple) work on their own schedule is a given. In fact I see a lot of people with the attitude that such a level of income is pretty meager.
I've always been working on the next thing whenever I'm in a job or business. When in telecom Igot my real estate license, when a real estate agent I got a brokers license, and now I'm suplementing real estate with poker and working on building a new kind of real estate business.
How many of you poker pros are working on something as backup, or do you feel safe enough that this opportunity os here to stay? My guess is that online poker as a viable way for many thousands of people to make a living is a brief temporal anomaly, and it'll be largely gone within a decade if not much sooner. I hope not, though.
Yeah I'm gearing up for a possible 2-month deadline and all is gone. Waking up to Epassporte leaving the market I remember that day. It felt the same as 9/11 ... strikes you by surprise and you feel its the end. I even said that out loud, doomsday has happened, and I spent the entire day wondering, what comes next!
So if I have this 2-month warning when UIGEA regulations are finally set (banks have until December 1st, 2009 to comply so Im sure we'll have a few more months) I plan on getting back into trading currencies. I did so before poker and it yields the same results. You can hit big, you can lose big. Its just another form of gambling ... but legalized! And it takes skill just the same as poker. Analyzing the charts, paying attention to news feeds (the fundamentals), in poker this would be related to gathering information from the other players then analyzing the flop and how it has been played. When you make your bet ... you intialize your trade. Trading is also a game of patience.
However a larger bankroll is required for trading (but you can trade with as little as $50), and some knowledge is needed. You can receive free courses, or pay a small fee the same as you would purchasing a book on poker. With poker you can turn $50 into a few hundred getting lucky in a MTT, with trading it would take longer. I can double a large poker bankroll in 1 week (100% ROI). With currency trading, between 10% and 100% of bankroll. Risk is the same in both. But trading takes up much less of your time which is a benefit. You can get in a trade after 2 hours of analyzing and let it sit for a few days. Or you can be glued to the computer watching every move it makes and make a few trades a day. And of course, you'll go through the same frustrations lol. Not as bad though.
So that can be a back up option for any of you making a living online with poker. My sister is paralyzed so not able to work, poker helps supplement her income. A friend of mine is on disability cause of health reasons and plays poker for a little money as well. Im sure some of you may be in the same predicament, not able to find work, especially with all these lay offs and business failures. If you make an income with poker ... find a back up plan much like the questioner is asking for. I read the first page of this thread and lol Im not gonna comment. Its a really good question looking for serious answers.