I played on PKR
last night in a freeroll (one of the free tickets they give you to enter a 500 point freeroll) and after a few hands I lost a shed load of chips to a fish who chased a straight to the river.
I was left with 100 chips and there were 542 entrants. I probably would have been 400 and something had I gone out then.
After picking the right hands to "all in", I managed to get myself back up to 3k.
The blinds and ante were crippling me and I had a small pocket pair - 6s and decided it was time to chance my hand. Everybody had folded except the Small Blind (I was big blind) so I took a chance and raised him all in. He called straight away and my worst fears were realised. He flat called with pocket Qs - first time he had a good hand and didnt raise. Typical!
Needless to say I lost and ended up finishing 46th.
So even at an early stage if you lose most of your chips - just remember that a chip and a chair still has value if you play your cards right (and have a bit of luck).