Good at poker bad at trading, how could that be?

The difference between poker and trading is vast and cruel.
When playing 1/2 NL poker, you truly need minimal basic skills and self control to win long term and probably a fraction of the skill required to win at 100/200 NL poker.

In trading, Micro NQ or even Mini NQ require the same skill level. You're either a winner or a loser and unlike poker you can't move down in limits to weaker opponents. However, overall I tend to notice poker players have a quicker grasp of the skills required to profit in trading than new traders without such a background.
 
TripleJs said:
It is like two extreme of me. Sometimes I feel like I have Multiple Personality Disorder. I guess that's something to do with not knowing the odds in trading? I always thought poker is gambling and trading is buisness but I act the reversed. I am mentally fXXXed up.
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It's similar to poker where you really need to know which group of players/traders your specific trade expects to pick off; and if you don't know whose money you're gonna take, you're the fish.

By now you've probably realized, via experience, that price bar patterns alone don't really give you any information edge against anyone.
 
tayte said:
......By now you've probably realized, via experience, that price bar patterns alone don't really give you any information edge against anyone.
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Not exactly true. :)
An experienced trader already has an edge, called experience.
Depending on the instrument one is trading, one can gleen information from price bar patterns which other lesser mortals cannot detect.
But price 'bar patterns alone' with no other support is a tough gig admittedly, an experienced trader has an edge not just from experience, but over many years will have gathered many handy little tools to help him/her along.
 
themickey said:
Not exactly true. :)
An experienced trader already has an edge, called experience.
Depending on the instrument one is trading, one can gleen information from price bar patterns which other lesser mortals cannot detect...
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OK, I guess what I said before only applies to "lesser mortals" lol
 
metraded said:
Poker and trading are two different games. It's like saying: "I'm good at football so I should be good at ice hockey".
In poker you can bluff... good luck bluffing in trading LOL
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LOL funny but mostly true......................................................................NOT that luck or gambling has anything to do with business or trading/investing/LOL.
WE used to gamble in pool halls for quarters.Also too dumb to check for silVer quarters.
The way the small sample crowd looks @ gambling + trading;
since the kids used quarters/thats why all the elephants + polar bears use .25 + quarter levels//// \\\\ LOL.
[ I do like what a heavy drinker/gambler friend told me once= when a bum on the street asks you for a handouit\ tell him ';'thats ok buddy, you work this side of the street + i'll work the other!!!!!]
 
It happens, you are not the only one in this situation. Believe, it could be worse because there are a lot of people that are bad at both. One of my friends tried his luck some month ago on the forex market, Well, he started trading on real money without a preparatory course or a bit of practice on a demo account. And of course, he lost his investment, after that he tried to recover that money by playing poker. He took a loan from a local bank, and guess what, he lost everything. Well, be careful because gambling and trading are dangerous hobbies. I also gamble sometimes on แทงบอล, but I don’t bet more than 50$, and I know how to control myself.
 
As for the differences from gambling, the impact on the chart through a broker that provides the trader with access to options trading is reduced to zero. The cost of the asset, and accordingly, the chart is built by the analytical agency Thomson Reuters (or Leverate). The strategies used by traders when making transactions have their own history and norms, and are definitely far from analogs in the gambling business.
 
Scataphagos said:
Ditto. Virtually ZERO correlation between poker and trading. Separate skill sets.

If one learns to trade well, it's virtually impossible to lose unless you do something stupid.
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How many years did it take for u to reach this conclusion?
 
7out said:
The difference between poker and trading is vast and cruel.
When playing 1/2 NL poker, you truly need minimal basic skills and self control to win long term and probably a fraction of the skill required to win at 100/200 NL poker.

In trading, Micro NQ or even Mini NQ require the same skill level. You're either a winner or a loser and unlike poker you can't move down in limits to weaker opponents. However, overall I tend to notice poker players have a quicker grasp of the skills required to profit in trading than new traders without such a background.
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Also, online poker is the toughest kind, most 1/2NL live players will hardly be able to beat 0.25NL online.

I was a professional online player a few years ago and moved to trading, some skills do help a lot:

- Embrace variance
- Know the art of taking losses
- Always seek continuous improvement and keep learning
- etc
 
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