Quote from Scataphagos:
In a younger life, I play lots of poker. And after many years of trading, my view is that poker and trading are not very much alike.
Trading IS, however, much like card counting in Black Jack. That is, you need to be observant, keep up-to-date with the data, and be analytical... then when it appears the odds of a play are in your favor, get the money out.
In BJ card counting, you'll know when the deck is in your favor. It's more complex and less certain in trading.
Yes, this is absolutely correct.
Also, the risk managment oppurtunities are different.
In poker, when your money is in the pot, it isnt yours anymore, you only can win or lose the pot.
But in trading, the money is always yours and you decide when to get out and with how much you get out.
For example, you might not be correct with your overall bet about the price move, but you were right a little bit and it pushed you into profits and you have taken out your risk, and might been stopped out with no loss or have takin a small profit, when you have seen the odds changed against you.
Also, for longer time trades and position switching trade managment, you can everytime go in and out of a position when you want, and the price is allright, so long you expect the big move will come soon, while you use your money to work is some quicker trade, until this move will probably start.......
So you are much more flexible in riskmanagment in trading.
In poker you are not flexible at all in riskmanagment.
Poker have the badest risk managment opportunities i know.
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But Poker and Trading are both strategy games.
But Trading havent any luck involved, if you know what you do.
So, that means if you have 2 Aces in trading in your starting hand, you can bet your ass on it, that it will make you money, how much, will show the time, but at least you wont lose anything.
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But to be a good trader, you must be a master analyst, so as a good poker player, you have already a good sense for analysing and patterns reading, so it might be the right career for you.
Good luck
