Poker and the Beginning Trader

Quote from traderNik:

And another thing - I KNOW when I have made a mistake IMMEDIATELY
More...

Just one more comment regarding my original intention. At this point I was just learning the game and I was still making technical errors - limping when I should have been raising, failing to take into account my position, failing to measure the stacks that were yet to act when I raised, etc. That is what I meant by making mistakes.

However, this does not change my feelings about Redman's contention that 'if you win, you are correct and if you lose, you are incorrect'.
 
Quote from Rearden Metal:

While this point is not without merit, that's also how many fish commonly justify (to themselves), staying in hands which should be folded.

"I'm not foolishly drawing to a 2-outer, I'm <i>mixing up my play.</i>" :D

P.S. Regarding your aggressive comments toward TraderNik, you should back up your words with your cash. Play him in a series of medium/high stakes freezeouts, and see how you do...
More...


My point has merit (and you misunderstood it)...
Because it's focus was reading/playing your opponents...
As opposed to playing purely mathematically correct poker.

You would play a (A) bad weak/tight player very differently...
Than (B) a bad calling station or bad hyper-aggressive player...
Than someone you have sized up as a (C) strong player.

Classic strategy goes out the window against A and B...
While you would revert to classic strategy against C.

You guys all know this...
But say against A... you would steal blinds a lot with nothing...
Plays that might be viewed as "incorrect" by a computer...
But "correct" in context and ** only ** if you win.

So in poker context is everything...
But poker context is too complex with too many unknown variables...
For today's Bots to manage and adapt to as well as an experienced pro.

rm+

:cool: :cool: :cool:

The main difference that I have found between poker and trading:

It took me only 3-4 months to learn how to beat online poker via 2+2...
(Play aggressive push strategy in $22-$33 level SNGs...
With a strong focus on bubble and end play using a variation of ICM (Independent Chip Model).
There is a lot of mathematical/strategic clarity among the top poker players and in poker forums.

In contrast...
As someone who has successfully managed a 7-figure hedge fund for over 10 years...
99% of the information online I see about "beating the stock market" is total bullsh*t.
 
Sounds like the key difference "philosophically" between a systematic approach vs discretionary approach to trading -- that is, playing the percentages vs taking each trade independently. In the former case the "correct" play is assumed and acted upon beforehand; in the latter, the trade is only "correct" in retrospect for that unique trade.
 
Quote from RedManPlus:

My point has merit (and you misunderstood it)...
More...

I noticed you didn't bother to reply to my post, but that's ok. What you said in your original post is not the above. What you said was this:

"If you win, you were right. If you lose, you were wrong'.

This is misleading and untrue.

My comments had nothing to do with making adjustments for texturally different games. Again, that is Poker 101.

Since you manage a 7-figure hedge fund and felt the need to tell us all that, I'll end my comments there. None of the small group of true heavyweights here have ever revealed the size of their accounts, as far as I can remember.
 
Now we're talking some fun stuff here....thought you guys might like this..

POKER STADIUM LV'S NEW DRAW

Some dream of full house at Neonopolis
FOX Sports Net is turning the televised poker tournament experience into a live spectator sport in downtown Las Vegas.

Three of the movie theaters at Neonopolis are being converted into the Pokerdome, where about 200 people will be able to watch weekly tournaments. Players' cards will be revealed live on televisions in the arena, and the players will sit behind a soundproof, one-way glass, so they can't see or hear fans' reactions, said George Greenberg, executive vice president of programming and production for FOX Sports Net.

Advertisement

"We're creating the first-ever poker arena, with all the bells and whistles," Greenberg said. "This is going to be NASCAR for poker."

Full Story here:


www.stocktrading.com/pokerstadium.htm


Don
 
Craziest thing I've ever seen on a poker table!

I'm in Vegas a week or so ago. Playing some 2-4 hold'em while my wife spends all my money at the spa. I'm dealt Ac 9h.

Flop => 10h Jh Kh

I've got a stright flush draw or an Ace high stright draw. So I stay in for the turn.

Turn => Qh

Made my straight flush baby! And at a 10 handed table I can guarantee two or three other player made a straight or a flush. So, I'm jamming the pot.

River => Ah

Royal flush on the board! Split pot 4 ways and I come away from the hand making a measly 5 bucks.
 
Quote from traderNik:

I noticed you didn't bother to reply to my post, but that's ok. What you said in your original post is not the above. What you said was this:

"If you win, you were right. If you lose, you were wrong'.

This is misleading and untrue.

My comments had nothing to do with making adjustments for texturally different games. Again, that is Poker 101.

Since you manage a 7-figure hedge fund and felt the need to tell us all that, I'll end my comments there. None of the small group of true heavyweights here have ever revealed the size of their accounts, as far as I can remember.
More...

No reason for the quoting, just want to direct this comment to you. Sounds like u have a good fundamental understanding of the game ( by the way I %100 agree that pros have draticly dif styles). If youre interested in tournies I strongly suggest you read Dan H. book H on holdem. By far the best tourney book out there. Best o luck to ya
 
Quote from gunslinger:

No reason for the quoting, just want to direct this comment to you. Sounds like u have a good fundamental understanding of the game ( by the way I %100 agree that pros have draticly dif styles). If youre interested in tournies I strongly suggest you read Dan H. book H on holdem. By far the best tourney book out there. Best o luck to ya
More...

thanks, gunslinger. I read both Volumes 1 and 2 and they are the best poker books I have read. The Sklansky books are great but the Harrington books had, for me, more practical content.
 
Tournament strategy is interesting. I have read all the books except Harringtons. I'll have to get it. I do a number of things differently than most of these guys recommend mostly in handling small and medium pairs and AK and I make it to the money quite a bit, so Im curious to see what he has to say.
 
You must log in or register to reply here.
Back
Top