Good poker player = good trader?

[fletch2]

Quote from Joab:

No matter the skill or experience level, even a newbie can win the WSOP and be concidered the worlds best.

Haven't seen too many top 10 hedge fund managers with less then 10 yrs. experience, concidered the best of the best.

It doesn't surprise me you couldn't win at poker, if this is an example of your ability to reason.

Only someone who knows nothing about the game would think a single tournament win qualifies anybody for "the world's best" at poker.

Similarly, someone who knows nothing about trading might think that a guy who turns his $10k futures account into $100k in three months is a world class trader, while anybody who knows anything knows it could be and likely was pure luck.

Somedbody said once that playing poker is like playing chess for $1 and then flipping a coin for $100. You can quibble with the exact numbers but it's a good description for someone like yourself who has zero understanding of how to understand luck vs. skill in poker.

Fletch

 

[TheActionKid]

Quote from Rearden Metal:

<i>Reardon,

I think that the media has done a fantastic job of hyping poker as an any mans game and road to riches but it reminds me of the stock market 95-2000.</i>

---> I've made that comparison too. (Although the Golden Age/easy money in poker ended over a year ago.)


<i>I lived in Vegas for 3 years and made my living counting cards and playing poker.</i>

----> I call shenanigans on that statement. No serious poker pro ever sounds like you do, only the fish.

You're claiming you've 'made your living' playing poker, but yet poker is 90% luck? In other words; without believing you had any kind of +EV edge, you were able to grind out a living at the poker tables off pure blind luck? It doesn't add up. You're not being honest here, and everyone can see that.


<i>I've been trading fulltime for 3 years now ( a student of the markets for 10 yrs.) and I can say with some authority that trading is a far better lifestyle and the skill sets involved to be profitable are truly skill.</i>

---> Of course trading is a better lifestyle. It's also a better game. Poker=checkers/Trading=chess.

So Joab, is backgammon mostly a game of luck as well?

Check and mate!

 

[Joab]

Quote from fletch2:

someone like yourself who has zero understanding of how to understand luck vs. skill in poker.

Fletch

TraderNik / Fletch


Who said I have not won at poker ?

I have just not won online and that's what my whole arguement is about.

Online poker is a SCAM in my opinion.

I never doubted that tournament players could not do well after all it only takes 2-3 final tables to make a career these days.



I lived in Vegas for 2 years and made a decent income while I was there!

How long have you been playing for ?

Talk to me after 10 yrs of experience NOT while the bubble is expanding and the pickings are easy.

 

[gunslinger]

Quote from frank grimes:

Gunslinger, props to finishing in the money, when I did it in '01 (omaha hi/lo no less) it was sooo much easier. As we speak i'm playing on full tilt (20/40) and the kids own these games. I still hold my own, but I know beta testers for ft that refuse to play online anymore! crazy.. congrats again.

I appreciate it. U check out those PL omaha games on Fulltilt, absolutlely sick. Amazing to see 18-19 yr olds playing high stakes against Phi Ivey

 

[gunslinger]

Quote from Joab:

TraderNik / Fletch


Who said I have not won at poker ?

I have just not won online and that's what my whole arguement is about.

Online poker is a SCAM in my opinion.

I never doubted that tournament players could not do well after all it only takes 2-3 final tables to make a career these days.



I lived in Vegas for 2 years and made a decent income while I was there!

How long have you been playing for ?

Talk to me after 10 yrs of experience NOT while the bubble is expanding and the pickings are easy.

Cmon joab, u think its a scam b/c obv. u lost. I assure u there is no scam, just winners and losers. If u fall into the latter dont blame the game.

 

[Joab]

Well duh ....

Of course I'm upset but not because I lost money but HOW I lost the money.

The cards can not come out that much different online !

http://www.cryptologic.com/ the company that makes the software has openly admitted that "It's up to the vendor to program it too their own levels.

Which suggests to me that each vendor can design the software to do whatever they like.

This company is rumored to have mob ties and has consistently been reported for unscrupulous activity.

Do a little homework and find out for yourselves.

 

[SammySOESa]

unbelievable. hahaha!


http://sportsillustrated.cnn.com/2006/more/08/24/wsop.money.ap/index.html

 

[Dr. Zhivodka]

I've found that most good quick traders play a good game of Omaha HI-LO no limit.

Texas Hold'em (especially online) is about the most boring elementary game there is.

Quote from a529612:

I know nothing about poker. Why do most top traders have a solid history in poker playing? Does the game keep your mind sharp or it has more to do with good money management to keep you in the game?

 

[trader3]

Quote from Dr. Zhivodka:

I've found that most good quick traders play a good game of Omaha HI-LO no limit.

Texas Hold'em (especially online) is about the most boring elementary game there is.

For the sake of the poster I hope this post is a joke. First of all, there is no "Omaha HI-LO no limit" and secondly, either No Limit or Limit hold-em, online or otherwise, is anything but elementary.

If the original poster is serious, he has no clue.

 

[Renegen]

Probably the biggest thing traders and poker players have in common is that they must live off their profits and they also both have to use risk management for their money. It's not something minor because at the core the trader and poker player try to do the same thing.