Which one? Poker is not like trading or if you trade well it's nearly impossible to lose.?
Good at poker bad at trading, how could that be?
- Thread starter TripleJs
- Start date
Which one? Poker is not like trading or if you trade well it's nearly impossible to lose.?
I played poker up to 7 days per week for about 5 years. In the end I realized all was really happening is that we are exchanging $$ back and forth between players. HMM, sounds like the market doesn't it? and then there is the house rake, just like fees and commissions. I stoped playing cause I grew to dislike the lifestyle of the long hours in card rooms and casinos. At least by trading options I am limited to 6.5 hours per day.
For successful trading, it is not enough just to develop a trading system and start putting it into practice, as is the case in poker. In fact, not everything is so simple. Professional traders are constantly developing certain qualities in order to effectively use trading methods in different market conditions. Coming into trading, beginners are unlikely to have all the necessary personality traits. Successful trading involves a rare collection of human qualities, the development of which must be constantly worked on. And then I remember my poker game visit link and in fact, it was according to the scheme: no bluff and tight.
It seems to me that successful traders are not born; they become, thanks to hard work with an emphasis on the development of important qualities.
Briefly highlight these
It seems to me that successful traders are not born; they become, thanks to hard work with an emphasis on the development of important qualities.
Briefly highlight these
- Discipline
- Patience
- Flexibility
- Stress resistance
- Independence
- Ability to predict
The second. Hard to lose at poker also when u are at elite level and multi table.
Seems overly optimistic.
While certain players make it to the cashing position most often, there are also many big-name players who don't.
Have never seen any stats on how often players cash in tournaments... would be curious to know.
As for trading... success of nearly 100% assured if you know proper TA, take only trades with good correlation, and protect capital with stops.
As a poker player, I'm sure you understand the strategy of card counting in black jack. That is, "don't bet until the deck is in your favor, then get your money out". Same is true in trading the market.
While certain players make it to the cashing position most often, there are also many big-name players who don't.
Have never seen any stats on how often players cash in tournaments... would be curious to know.
As for trading... success of nearly 100% assured if you know proper TA, take only trades with good correlation, and protect capital with stops.
As a poker player, I'm sure you understand the strategy of card counting in black jack. That is, "don't bet until the deck is in your favor, then get your money out". Same is true in trading the market.
Different game. Different rules. Different strategy.
There are some takeaways from poker, obviously. Like risk and money management. Learning to keep your emotions out of the game. Recognizing when the game has turned against you, and getting out instead of trying to fight it. Knowing whether you are the champ or the chump at the table, and usually it is the latter, and if you don't know which one you are, it is always the latter. Knowing that you have to learn the game, and the learning can be expensive. Knowing it is a bad idea to play with scared money. Knowing that playing on credit multiplies your risk. Understanding that you shouldn't keep throwing good money after bad. Being okay with giving up the game forever, if you see that it just isn't for you.
There are some takeaways from poker, obviously. Like risk and money management. Learning to keep your emotions out of the game. Recognizing when the game has turned against you, and getting out instead of trying to fight it. Knowing whether you are the champ or the chump at the table, and usually it is the latter, and if you don't know which one you are, it is always the latter. Knowing that you have to learn the game, and the learning can be expensive. Knowing it is a bad idea to play with scared money. Knowing that playing on credit multiplies your risk. Understanding that you shouldn't keep throwing good money after bad. Being okay with giving up the game forever, if you see that it just isn't for you.
It's so weird when you go from one side of this quote to the other side, but I completely agree.
Low stakes poker are filled with recreational players so it's easy money.
Try moving up stakes and see if you can still win comfortably.
Online $200 USD buyin+ NLHE cash games are very tough too, in general.
On the contrary, trading is tough regardless of your trading size.
You're still competing against banks / funds / HFT firms even when trading micro sizes.
Try moving up stakes and see if you can still win comfortably.
Online $200 USD buyin+ NLHE cash games are very tough too, in general.
On the contrary, trading is tough regardless of your trading size.
You're still competing against banks / funds / HFT firms even when trading micro sizes.
Not only that... but in poker there are HUGE factors of "reading the other player", intimidation/bluffing, and luck. None of which apply to good trading.