A sideshow performer flees to the Danube after a misunderstanding with a deceitful gambler and finds refuge with two Bohemian men, one of whom is a handsome painter she falls for.

In New York, boxer Eddie Steele has a promising career ahead of him. But this makes him reckless, and he prefers nightclubs to training. Eventually, his reckless lifestyle becomes his downfall. After some reflection, he emigrates to Germany, opens a sports school in Berlin, and allows his favorite student to benefit from his own experience.