Is Trading Right for Me or Should I Stick with Poker?
- Thread starter The Tripster
- Start date
Invest the same number of hours learning to trade, that you invested learning to play poker. Then when you know how, you'll also have an appreciation of your own personal +EV as a trader. You'll be in a good position to decide which you like better, at that time and place in your life: trading or poker.
Quote from richrf:
Stick with poker. It is a more honest game.
yeah definitely stick with something you're good at. why risk into stock mkt when already making a good living out of what you like. the chances are you'll fail at stocks and in worst case scenario, it'll drag down your poker psyche along with it. You don't wanna be one of those thousands of young college kids taking a chance at poker b/c you can't find a decent job(I couldn't believe how so many college students want to become a professional poker player......hilarious)
I don't think anyone told you this, but you need to rent the DVD "Casino." I actually know Lefty Rosenthall well (Robert Deniro played his part), and he will tell you in the beginning of the movie that Vegas is for suckers. The odds are ALWAYS in the house's favor. If you win on a consistent basis, they'll get rid of you before you can blink.
If you want to "gamble," there's better ways to do it... Best of "luck" to you.
If you want to "gamble," there's better ways to do it... Best of "luck" to you.
You stick with poker and you'll be broke sooner than later. It's a sucker's game especially when you go to Vegas. If you win in Vegas get out fast. I mean fast! It won't last. I know. I have a family member who cannot go into ANY casino in Vegas because he KNOWS how to break the roulette wheel. He's also a Ph.D who teaches probabilities. He was "asked" not to come back... You're better off with penny stocks imo. It would better for your health to trade stocks... Good luck!
LEAPup, you couldnt be more wrong!!! If he's good at making money at poker then he obviously knows his stuff...... With poker, its mostly money mgmt and psychology, very much like trading.
If your good at something and making real good money at it, why change???
If it isnt broke....dont fix it !!!!!
This is key. I know there is no way I would ever be content just playing poker for the rest of my life. I would have to go into other opprotunities later on in life. Most likely real estate or other investments. I enjoy finance so I could never really leave the field as a whole.
Also, I play almost exclusively online. The political environment is a factor in what my winrate is. If McCain won the election, I would go into trading in a heartbeat because of the policies he wants to put in place. Obama is at least not against poker. Realistically, I could see myself playing poker for a max of 10 years before getting really bored of it.
Also, I know most people will call bs on me, and I really don't care. The responses I get on here are vastly different compared to responses on poker forums. Ironically, I know 2 people that made around 600K-800K playing poker a year that pretty much completely quit to go into trading at top firms and most people on the forums believed they did the right thing by switching into trading.
I think this is partially because top traders tend to hang ouch with each other to learn more stuff from each other. I know a group of hedge fund owners/prop firm owners that have a poker game every so often just to converse about the markets and their upcoming plans for their own firms.
Same is true for poker players. Most that I know talk with each other about strategy all the time.
Part of this problem is that I would take a job at a top tier trading firm. Most people would agree that by taking this type of job, I would be able to learn things alot quicker vs. by myself. I've heard on hear that people would give their left nut to work at some of these firms, and I feel like it would be a waste to just go on my own vs. taking a job at one of those firms.
The problem with this is that I think it would take alot more hours of learning trading compared to what I did in poker to come out with the same hourly rate. I think there is a steeper learning curve in trading than in poker. Maybe I am wrong as the Turtle traders only had 2 weeks of training and some of them did exceptionally well that could follow the systems to a tee. The same is true in poker. I could teach anyone to make $15-25 an hour in 2 weeks if they actually listened to me completely.