落魄江湖載酒行，

A down-and-out loafer wandered with nothing but drinks, 

楚腰纖細掌中輕。

indulging himself in slim and supple dancing girls of sinuous grace.

十年一覺揚州夢，

Now he stopped sowing his wild oats after ten years in Yangzhou,

贏得青樓薄倖名。

without winning any fame except man of brief flings among courtesans.

PS I learned this poem in high school when our teacher of Chinese language cited it as a salutary warning that we young fellows had better not put a foot wrong into "江湖".