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Failed Trading. Poker Success.
- Thread starter lundy
- Start date
It really hits home to me. Today, January 25th I did my day trades and then went to Foxwoods. My goal was $220 profit ($20 to cover gas). I got to Foxwoods at 12:19 and by 3:00 was up $254 and got something to eat and headed home.
I got home and saw I lost .48 points on my daytrades but overall had a very solid week of trading.
I have a very unique way of daytrading that is very profitable over the long run. Interesting to read your post that you couldn't make it daytrading, I feel your pain. I have zigged and zagged too trying to outsmart the market and got my head handed to me over and over again. My success is based on all the hard work, thought and dedication I do before and after the market is open. My trading is strictly on my homework and not on my 'gut' feelings.
Poker is very often based on 'gut' feelings and not homework (i.e. I have A-A so I have to call the allin bet on the flop).
I have learned to trust my 'gut' in poker. As many pro's attest to, it often is correct.
One person mentioned reading the player to maximize profits in poker. So very true. Here is one that came to mind. The other day in the $1/$2 NL game a guy raised to $17 preflop, I called with 8-8 (yes not a great call you may say). One other caller. Flop came 6-8-6. The first caller bets $25, the original raiser goes to $75. My first thought was how do I keep the first better in the pot, but then opted to go after the guy who just put $75 in the pot with his overpair. I reraised to $300 (12 green chips I put in) and the first better folded fast. The guy with the QQ thought for a minute, asked what I had left ($65) and then just called me! ( he had to know it was going in on the turn!). The turn was the 4d. He checked, I went allin, he called. River was the 2c. He held his cards, I knew he didn't have 6-6 at that point, and showed my hand. He showed the QQ like he was stuck and had to donk off his money.
Anyways, love reading these posts on here.
p.s. check me out- Olivia3435 on Pokerstars. I am a winning player online (according to sharkscope.com) but honestly cannot grind out much online, I have to play live to do well for some reason. Guess its the reading skills that help me live.
Rich L.
I got home and saw I lost .48 points on my daytrades but overall had a very solid week of trading.
I have a very unique way of daytrading that is very profitable over the long run. Interesting to read your post that you couldn't make it daytrading, I feel your pain. I have zigged and zagged too trying to outsmart the market and got my head handed to me over and over again. My success is based on all the hard work, thought and dedication I do before and after the market is open. My trading is strictly on my homework and not on my 'gut' feelings.
Poker is very often based on 'gut' feelings and not homework (i.e. I have A-A so I have to call the allin bet on the flop).
I have learned to trust my 'gut' in poker. As many pro's attest to, it often is correct.
One person mentioned reading the player to maximize profits in poker. So very true. Here is one that came to mind. The other day in the $1/$2 NL game a guy raised to $17 preflop, I called with 8-8 (yes not a great call you may say). One other caller. Flop came 6-8-6. The first caller bets $25, the original raiser goes to $75. My first thought was how do I keep the first better in the pot, but then opted to go after the guy who just put $75 in the pot with his overpair. I reraised to $300 (12 green chips I put in) and the first better folded fast. The guy with the QQ thought for a minute, asked what I had left ($65) and then just called me! ( he had to know it was going in on the turn!). The turn was the 4d. He checked, I went allin, he called. River was the 2c. He held his cards, I knew he didn't have 6-6 at that point, and showed my hand. He showed the QQ like he was stuck and had to donk off his money.
Anyways, love reading these posts on here.
p.s. check me out- Olivia3435 on Pokerstars. I am a winning player online (according to sharkscope.com) but honestly cannot grind out much online, I have to play live to do well for some reason. Guess its the reading skills that help me live.
Rich L.
Okay comparing poker to trading is so overrated. Anyone can learn to beat low stakes poker online. You can probably learn to make a decent living at 1/2 or 2/4 no limit. But please, most poker players cannot trade for shit and probably will never learn to trade properly. You don't require any sophisticated math in poker for most hands. It's simple shit. Odds, equity, etc etc is baby math. Figuring out what percentage of times to bluff profitably, sizing your bets, putting your opponents on ranges, can all be learned in a matter of months. I've figured out how to play short handed NL but still struggle to trade profitably. Can someone please teach me? I'll give you 50% of what I make my first year.
Personally, I would have flat called to keep the other guy in and then made my move on the turn.
Quote from traderich:
The other day in the $1/$2 NL game a guy raised to $17 preflop, I called with 8-8 (yes not a great call you may say). One other caller. Flop came 6-8-6. The first caller bets $25, the original raiser goes to $75. My first thought was how do I keep the first better in the pot, but then opted to go after the guy who just put $75 in the pot with his overpair. I reraised to $300 (12 green chips I put in) and the first better folded fast. The guy with the QQ thought for a minute, asked what I had left ($65) and then just called me! ( he had to know it was going in on the turn!). The turn was the 4d. He checked, I went allin, he called. River was the 2c. He held his cards, I knew he didn't have 6-6 at that point, and showed my hand. He showed the QQ like he was stuck and had to donk off his money.
your profile says "New User of Wise Trade'? do you?