Trying to go back to topic after all the drama... starting with red chips or straight to black chips is nothing more than “psyche management” when you have enough practice... you can’t predict how your early career will go, you only know your commitment and mental fortitude regardless of bankroll.
I have a 6 figure salary in which I could definitely have started at double green chips off the bat with a “replenishable bankroll” but I was afraid of ASMs/ wary of bad variance at first. I started with $10k to red chips that I did have in the bank, and was willing to lose. So with crappy red chip rules I lost down to $3K (30%) of my bankroll but then the tide turned. Lifetime balance went from -$3K turned to $6.5k (plus my real job savings) so I resized to green chips, $6.5K became $16.5K so I increased to double green, $16.5K became $50K and I decided to do one last high risk push to black chips... right now I’m sitting at $66K and will take a bit of a break. And yeah I have $150K in the bank including those $66K earnings so ROR is well below 1%. All after 2 years.
My point is in hindsight I should’ve gone straight to black chips, I’d be far lower than 1% ROR by now and deeper than $100K in the green... but if your friend is a dead beat reneging on his debt I hope he is the 1% that loses it all. He could also catch an insane run like me but ohh well... do tell how it goes.
P.S.: I’m fully aware it’s not the same heat you’ll experience with black chips and the psychological aspect can be tough with huge swings... but I wanted to exemplify what I “missed”.
