Poker -- Has your knowledge of poker improved your trading profits?

[Scataphagos]

So what are the dynamics of poker about? Winning the most hands?

No. The most important dynamics of poker are about intimidating opposing players to making a mistake. That is, "betting in position" and/or intimidating with your big stack if you've got it. That is.... you try to bluff opponents off of a winning hand or suck them into calling/raising when they have the loser. (And then there's the play when you bluff while stepping into the lion's den.)

Sometimes it ends up being all about 50-50, but none of which translates to the financial markets.

Any trader who hopes to gain some insight into the markets via poker knowledge is fish'n in a dry hole.

 

[bone]

No. The most important dynamics of poker are about intimidating opposing players to making a mistake.

IMO a great many traders get intimidated into making mistakes.

Having said that - I’ll repeat my stance that being a good Poker player doesn’t preordain that person’s prowess in trading financial markets.

 

[Option_Attack]

Good thing you quit. Don't want to get your hand cut off like Roy! (Sorry, someone had to do a "Kingpin" reference )

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.)

 

[ElCubano]

Absolutely meaningless. Poker moves in the same way as the markets. If anything trading is more static - you don't have to watch your face now that the pits are gone!

Poker is played one deal/hand at a time. No player can come in the middle of the hand from another table with 5 times your stack and bluff you out. That’s what I meant by static.

Playing poker for me is Position, stack size, opponents and cards you are dealt in the order of importance at least for me.

Peace

 

[nooby_mcnoob]

According to the Quants book, quants masturbate over who is a better poker player. Maybe the whole bluff thing is more important for big 'Q' quants?

 

[bone]

According to the Quants book, quants masturbate over who is a better poker player. Maybe the whole bluff thing is more important for big 'Q' quants?

Only for the Spoofers.

 

[Scataphagos]

Good thing you quit. Don't want to get your hand cut off like Roy! (Sorry, someone had to do a "Kingpin" reference )

At some point, I gave it some thought.

The best bowlers I knew had no money. Those who did owned bowing centers. Wasn't likely I was going to do that, so I had to shift gears. (Starting from ground zero, I had to borrow money to eat before my first pay check... and that wasn't even the 1st time I was that flat broke.) The reason I bring this up is to remind all the wannabes... there's no assurance of success, but it's doable. Keep working.

 

[MACD]

thanks for this.... I read a few pages..yeah definitely a lot of similarities...

@dozu888 , thanks for your comment -- Yes lots of similarities.

 

[MACD]

Yes, you can criticize me for what I am about to post here. No, personal aggrandisement intended -- no possible benefit from posting in ET -- except to be a conscientious appreciative member of ET. Here is the Controversial Statement, which the "Scat" member will love to jab at -- : This may be the Most Important Thread posted here today or maybe even back some many days. Why? Because, if a trader, Master or Wannabe, grasps the important of this Thread and applies the principles and Theory -- their Profits would Soar. Yes controlled losses, Higher Probabilities, or as I was taught by my Poker Expert friend, "Only take the Winning Trades!" So, please try and really understand what is being offered (and it is Free). Really? OK so don't read, don't try to understand why this statement -- just might be true.

OK, here comes the Scats...

 

[dozu888]

Yes, you can criticize me for what I am about to post here. No, personal aggrandisement intended -- no possible benefit from posting in ET -- except to be a conscientious appreciative member of ET. Here is the Controversial Statement, which the "Scat" member will love to jab at -- : This may be the Most Important Thread posted here today or maybe even back some many days. Why? Because, if a trader, Master or Wannabe, grasps the important of this Thread and applies the principles and Theory -- their Profits would Soar. Yes controlled losses, Higher Probabilities, or as I was taught by my Poker Expert friend, "Only take the Winning Trades!" So, please try and really understand what is being offered (and it is Free). Really? OK so don't read, don't try to understand why this statement -- just might be true.

OK, here comes the Scats...

lol... this scat dude... have put him on ignore long ago... full of anger but short on knowledge.. guy's trading skill is still at the 'head and shoulder' level lol...

darn I am reading too many Trump tweets... kinda weird the way I write now..