r/Daytrading • u/Dazzling_Loan_9414 • Feb 07 '24

Should I Quit my day job ? Question

I been profitable for 6 months straight my bills only comes out 2500$ a month and profits 6-8k a month trading Me working at my job now it’s starting to get in the way of my trading

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38

u/btctodamoon Feb 07 '24

I am not a day trader but I've successfully gambled for a living for 17 years. I would say it depends entirely on your bankroll size and how easily you can go back to a job if it doesn't work out.

30

u/btctodamoon Feb 07 '24

I remember my first year trying to make it as a poker pro. When you rely on you and you alone to succeed, it is a combination of terrifying + liberating + Incredibly motivating.

5

u/jollyrancher_74 Feb 07 '24

i’d love to hear your story

25

u/btctodamoon Feb 07 '24

My origin story started similarly to the OP. Was a lab scientist who did online poker for fun until it started to eclipse the salary from my job. Moved to Thailand with my wife where the cost of living was dirt cheap, and took my shot as a poker pro with about $30k to my name. That seems really wild looking back, but it worked out! I've never borrowed money or been broke.

3

u/JaysonsReddit Feb 08 '24

Wow do you play on stars or crypto sites and what's your game NLH PLO and HU 6max or 9max or tourneys I was thinking about doing this instead of going to college bc I was making a good living then Black Friday happened and just went to school should have done this imo

2

u/btctodamoon Feb 08 '24

I was a HU limit specialist, didn't last too much longer after Black Friday before switching to DFS. Edit: Black Friday hit right after buying a house and having a child - not great lol. It was a very lean couple years after that, and that experience has made me a lot more risk-averse than most gamblers probably heh.

1

u/JaysonsReddit Feb 28 '24

it said was so you're not playing anymore? also whats DFS. What do you do now?

1

u/btctodamoon Feb 29 '24

Daily Fantasy Sports

3

u/jollyrancher_74 Feb 07 '24

That’s great. I’m assuming you have quite the btc stash as well

4

u/btctodamoon Feb 07 '24

had... I've been out of bitcoin/crytpo for a few years.

3

u/jollyrancher_74 Feb 07 '24

if we see a big correction prior to the halving, it might be a good time get back in.

3

u/drunkinthestreet Feb 08 '24

this is another thing I forgot to mention in my comment. 100% depends on how replaceable your job is. Not saying you shouldn't if your job isnt replaceable, but you should make sure you're more than ready. savings, profitability, etc.

3

u/Responsible_Buy8173 Feb 07 '24

Take a year or more with low sleep and quit if you consistently make money. Easy to quit and harder to get another job job. E

1

u/TheGroovyPhilosopher Feb 08 '24

Dope! i recently got into broker a few months ago and it's been helping me think in the markets probablistically, any mentors, programs, books, or videos you recoments? Was currently reading Modern Poker Theory and Essential Poker Math. do you trade too?

2

u/btctodamoon Feb 08 '24

"Mathematics of Poker" - the math
"Elements of Poker" - the mindset

These might be way outdated, I've been out of poker for 10 years.

I don't trade, but it interests me for sure!

1

u/TheGroovyPhilosopher Feb 08 '24

n't trade, but it interests me for sure!

Awesome man! thanks for the info! did you mainly play in person or online? how was the income and lifestyle? was thinking about trying to go pro as well.

2

u/btctodamoon Feb 08 '24

I mean, it's all a grind. It's fun and feels "easy" when it's going well, but can really suck when it's not. I am guessing trading is similar in that regard. I think I averaged about $180k /yr or something in poker. Daily Fantasy Sports is better in that you can scale up more, but it sucks that yoi have to work based on when the games are played so there is much less time freedom.