Trading Three Figures to Seven
This site just launched, and it's already tagged for deletion. In x days, I will trade $500 to $1M using my experience with financial markets, poker and variance psychology. Concurrently, I will build a blog. Then, I will write a book and manage money for clients.
“Wait,” you say. “You think you can beat Dan Zanger who turned $11k into $18M in eighteen months, a 167,000% return?” Well, I don't have 80 years to compound average market returns to hit my mark (see: something no one wants to read about), but only a fool would expect those results in that time frame.
Projecting outsized returns is one thing (see table below), going through the process is another. It's a huge ask of time, energy, study, research, skill, patience, fortitude, trading, not trading, opportunity cost and luck. Many of those scarce resources are also committed to paying bills, something I currently do on the felt.
“And you make money playing poker?” Last year to now, my win rate is nearly $24/hr playing 1/2 no limit hold’em cash games at a poker room in Cincinnati. Upside would come from study, a deeper bankroll, playing higher stakes and travel.
This is not my first time setting big goals. Experience tells me that self-belief isn’t nearly enough to achieve them. At twenty-one, just before Lower Manhattan’s catastrophe opened Ground Zero, I cold-called from Louisville, Kentucky’s white pages as a new Financial Consultant. For a recent college grad without clients, qualified leads or a bull market ahead, outperforming half of the new broker class was great but not sustaining. A few years later, I was Alaska bound with a one-way ticket, a backpack and a long-held notion to work in commercial fishing. While I never cast a net, I enjoyed a few great summers in tourism. During those years, I started my MBA and took a shot at skeleton. The 2010 Winter Olympics was my holy grail, and I achieved U.S. Development Team level. 2007 was busy. Sliding in winter. Guiding in summer. Graduate school in fall turned my focus back to Wall Street. I recall thinking, “The culture at Bear Stearns looks like it could embrace an ‘alternative resume’ like mine.” You probably know that, by March, NYC was no longer taking applications. In 2013, I transitioned from a paycheck to a startup, for the second time. Before steam was lost in the grant/funding phase, most of my financial resources were gone, and poker became my next challenge. Becoming a competent player is an achievement, but the game isn’t a long-term career plan for me. As the days tick by, I am eager to focus more on the financial markets, blogging and (one day) call myself author, money manager and former poker pro.
For this blog’s readers, I will:
Keep it simple - Concise. Accurate. Timely. Organized. Plentiful reference links.
Constantly improve - I have learned the practicality of this cliche over the years. Read. Listen. Practice. Learn. General awareness is everything; tactically add depth.
Be compelling - Prudent transparency. Thoughtful, well-written posts. Engaging with readers.
Deliver value - May my experiences hasten your progress to the point in life where chasing resources takes far less mind share than what matters most to you and your loved ones.
Get results - I feel like I’ve spent an inordinate amount of time learning how to win but not doing so. The time is now.
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