Tripster
I used to be a regluar on Elitetrader, but have been playing poker successfully for a few years now.
To those who say its a grind I will agree with them if all they are doing is multi-tabling a bunch of no limit cash game 6 max tables. But the idea is to make poker viable over the long run (i.e. make it interesting) and the way to do it is to diversify into limit. SNGs, MTTs, live play etc etc
I am making less as a poker player than I was at my height as a trader, but here are the upsides of you sticking with poker
1) adapting to changing market conditions is much tougher than adapting, say, to an increasier LAG'ier style of play
2) my equity curve for trading was very volatile, but my equity curve for poker is smooth
3) poker is about table selection to play the right kind of opponents, but in trading you are at the mercy of market conditions which may not be kind to your set of strategies for prolonged periods of time
In terms of trading, the key upside is leverage
1) in poker the same strategy cannot be easily leveraged up to higher buy-in tables, meaning that the upside for poker is limited to less than 7 figures for all but the best
2) in trading, you have the ability to
a) leverage up a successful strategy to large size
b) benefit from OPM
My view:
Overall its a decision between stability in income (poker) and potential massive upside couple with high variability in income (trading). In other words, it boils down to what motivates you as an individual.
I used to be a regluar on Elitetrader, but have been playing poker successfully for a few years now.
To those who say its a grind I will agree with them if all they are doing is multi-tabling a bunch of no limit cash game 6 max tables. But the idea is to make poker viable over the long run (i.e. make it interesting) and the way to do it is to diversify into limit. SNGs, MTTs, live play etc etc
I am making less as a poker player than I was at my height as a trader, but here are the upsides of you sticking with poker
1) adapting to changing market conditions is much tougher than adapting, say, to an increasier LAG'ier style of play
2) my equity curve for trading was very volatile, but my equity curve for poker is smooth
3) poker is about table selection to play the right kind of opponents, but in trading you are at the mercy of market conditions which may not be kind to your set of strategies for prolonged periods of time
In terms of trading, the key upside is leverage
1) in poker the same strategy cannot be easily leveraged up to higher buy-in tables, meaning that the upside for poker is limited to less than 7 figures for all but the best
2) in trading, you have the ability to
a) leverage up a successful strategy to large size
b) benefit from OPM
My view:
Overall its a decision between stability in income (poker) and potential massive upside couple with high variability in income (trading). In other words, it boils down to what motivates you as an individual.