Poker and the Beginning Trader

mogul · Sep 10, 2004

I actually started playing poker from reading this thread and now I'm hooked...

It's uncanny what it will teach you about trading: money management, playing probabilities, betting, control of emotions, folding, the list goes on and on

I suggest for anyone just getting into trading to FIRST learn to be a decent poker player

harrytrader · Sep 10, 2004

I agree but what annoys me is that I can't predict the cards whereas I can predict stock market with my model

So for fun I prefer roulette, the simplest form black and red and I'm playing with martingales which mathematically cannot give any edge but it's fun psychologically to try to beat the chance

.

Quote from mogul:

I actually started playing poker from reading this thread and now I'm hooked...

It's uncanny what it will teach you about trading: money management, playing probabilities, betting, control of emotions, folding, the list goes on and on

I suggest for anyone just getting into trading to FIRST learn to be a decent poker player

MTrader3173 · Sep 10, 2004

Excellent Post. Thanks. =)

FanOfFridays · Sep 10, 2004

Quote from mogul:

I actually started playing poker from reading this thread and now I'm hooked...

It's uncanny what it will teach you about trading: money management, playing probabilities, betting, control of emotions, folding, the list goes on and on

I suggest for anyone just getting into trading to FIRST learn to be a decent poker player

Nice to see this thread is still being subscribed to.

I was about to do a Google search for poker videos - that is, video or DVD of tournaments, like the espn broadcasts we were getting for the WSOP 2003. And speaking of the WSOP, I have yet to see Greg Raymer's win at the WSOP this year - has it been aired yet? Up here in Toronto, the sports channels buy certain espn programming, but I don't get ESPN2 (different cable package - I might consider an upgrade if I thought there was going to be significant poker coverage).

Anyway, I'm off to do the Google search just because I am craving some tournament action. Has anyone found any such videos and are they recommended?

TonySanDiego · Sep 10, 2004

Quote from mogul:

I actually started playing poker from reading this thread and now I'm hooked...

My story too.

I am not exactly hooked though, haven't played for several weeks. Just got a $50 bonus from Paradise though, so I will be back at it soon.

Interestingly enough, I am net positive by a few hundred playing poker, and net negative by many thousands trading.

easyrider · Sep 11, 2004

Quite easy now for a person to start playing poker with no money whatsoever and, remote as the possibility is, could end up at WSOP.

wdbaker · Sep 13, 2004

Quote from ig0r:

just curious if anyone has played their tables yet, how do they compare to party?

If you've ever been to party, you know that nothing can compare to that zoo.

I play there exclusively, no reason to ever leave, although I am reaching the top of the No Limit games so may have to look then.

wdbaker
Denver, Co

wdbaker · Sep 13, 2004

Hi All,
All the years of studying trading and here I am a year later playing poker, variance is very small and people just keep giving me money, its like your own little FX deal, people come from all different countries of the world and trade money with you based on their knowledge or need for entertainment of the game.

I would have never even tried it without having discovered this thread so thank you, thankyou all.

Now if some could just take all this and teach me to trade, that would be grade, might have to work out a swap with somebody

wdbaker
Denver, Co

FanOfFridays · Sep 13, 2004

Quote from wdbaker:

Hi All,
All the years of studying trading and here I am a year later playing poker, variance is very small and people just keep giving me money, its like your own little FX deal, people come from all different countries of the world and trade money with you based on their knowledge or need for entertainment of the game.

I would have never even tried it without having discovered this thread so thank you, thankyou all.

Now if some could just take all this and teach me to trade, that would be grade, might have to work out a swap with somebody

wdbaker
Denver, Co

lol... fantastic, wd

I remember you were around here at the beginning of this thread.

You said you're reaching the top of the NL levels - have you played any of the high buy-in SNGs? Any intention to do so?

ig0r · Sep 13, 2004

Quote from traderNik:

lol... fantastic, wd

I remember you were around here at the beginning of this thread.

You said you're reaching the top of the NL levels - have you played any of the high buy-in SNGs? Any intention to do so?

I'll throw in my 2c here. SNGs are a totally different world, in an SNG your main goal is to survive and to place (thereby making money). In a NL game it doesn't matter how much time you spend at the table, your money will come from taking bad bets/raises from other players and letting the odds play out. Each can be beaten consistently, but they require different skills. I personally just stick to medium-blind limit, monster starting hands include AXs and suited gaps/connectors (low cards play surprisingly better than high cards). The edge comes from the fact that even with a bet in front of you on most pots, you can call with a decent draw and still have the pot/bet odds in your favor. When you hit the straight or flush, you make a tidy sum.