Poker -- Has your knowledge of poker improved your trading profits?
- Thread starter MACD
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TOTAL HOGWASH! The two are so materially different that there is no correlation.
GS may hope there is an edge and it's transferable, but no.
GS may hope there is an edge and it's transferable, but no.
read 'Zen and the Art of Poker'
there are many similarities...
- price action is comparable to the flops and the bets - what is actually happening in a hand (in a chart)
- the news, eco/geo/political events are comparable to the 'tells' in poker... examples in my 'trading is easy' thread.
there are many similarities...
- price action is comparable to the flops and the bets - what is actually happening in a hand (in a chart)
- the news, eco/geo/political events are comparable to the 'tells' in poker... examples in my 'trading is easy' thread.
Thanks for your comment
Are you what one might call an "expert poker player"?
Sort of. For about 10 years I made my living as a scuffler/hustler. Poker, pool, bowling for money. My best game was bowling.
Since giving all that up, I've been a financial markets player.
(In my hustler days, I "made a living" and it was fun. I was in my 20's then and lots of things were fun. In my financial markets player days, I've made $$Millions... giddy highs when I've made a lot, but overall not as much fun.)
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Thanks @dozu888 will definitely check out yor "trading is easy thread" thanks again
Agree with your point of static vs "moving target" -- yet during the course of play in a hand or series of hands their is information that is applicable and of value in both the trading and poker "arena".
ex sit and go pro here
Well, playing poker makes you question more about your edge. What is your goddamn edge?
Besides that it is easier for you to swallow the swings. I had -50k swings last year and this year.
ICM models and game theory is not very useful for trading, perhaps I just don't know how to use it.
Having to do risk management and knowing concept like Kelly criterion certainly helps.
(not trying to trade knowing I have no edge, mostly investing leveraged)
Well, playing poker makes you question more about your edge. What is your goddamn edge?
Besides that it is easier for you to swallow the swings. I had -50k swings last year and this year.
ICM models and game theory is not very useful for trading, perhaps I just don't know how to use it.
Having to do risk management and knowing concept like Kelly criterion certainly helps.
(not trying to trade knowing I have no edge, mostly investing leveraged)
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Disagree. In trading the best you can do is "trade what you know"... and what you KNOW is what's in the charts. In poker you can't KNOW because you don't know the hole cards of others. Poker is very much about being in position and intimidating other players to making a mistake... call/fold when they shouldn't. There is nothing in the markets where you as a retail screen jockey can intimidate anybody into anything.
No correlation between poker and trading the financial markets.
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