https://www.bbc.co.uk/iplayer/episode/p07hjnl6/can-you-beat-the-bookies. the globalism, implications and assumptions are as high as you will find anywhere on this show. the idea that people need help from gambling 'addiciton' the suggested methods for beating the bookie, that to beat a bookie would need more than the ability to stake more than 10 pounds for a 20% return.
Poker -- Has your knowledge of poker improved your trading profits?
- Thread starter MACD
- Start date
I've heard this by others about chess (times), competitive sports, military combat ready, certain video games (gaming), autism, bipolar and many other online tales about "transferable edge".
wrbtrader
I have played poker. It does not mean that I am gambler, but I was drawn to it because it requires continuous thinking, some statistics involved and a lot of bluffing. I cannot draw similarities between trading and poker, but maybe some people are better in trading from me and see things differently
yeah... I am sorry man but it just pains me that you are being so rude to everyone and you clearly don't know much about poker at all. Yeah, maybe in the year 2000 this worked for you but not now haha. I have been a profitable poker player for years and I am new to trading. The more I learn, the more correlation i see with poker. I see you understand position strength and perhaps draw equity. but you clearly dont know anything about range. Range is the biggest "Indicator" that you can use but in relation to the other "indicators" such as pot odds, draw equity, fold equity, all stack sizes etc. Range takes people a lot of studying off the table to gain a adequate grasp. Range is a very complicated and vast subject but is king. So just like in trading, Its about using these indications that are not all concrete to attempt to make +EV plays opposed to -EV. So please stop acting like you know everything.
As for everyone else. yes there is a lot of correlations between the two. Going from a profitable poker playing to trading I assume will give you a leg up for many different reasons. However,if you are not a profitable poker player (in recent years) and have no desire to become one. It should be clear not to start training with poker analysis to assist with your trading. haha
Edit: Think of it like you were a great skateboarder. Transitioning to snowboarding you would have a leg up opposed to having no experience on a board. However you still need to go through a certain amount of the learning curve. So clearly you wanting to practice skateboarding only to become a better snowboarder just doesn't make sense because even tho they are similar, they're just not the same.
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HOGWASH!! What you claim as "rude", I'll claim as honesty. And I know PLENTY about poker!
ON IGNORE!
LMAO that was a great rebuttal. Proof that you do not know what you are talking about. Also, didn't know that you couldn't be honest about you opinion and considerate at the same time, calling them a dick wad was a must. learn something everyday.
Probably the only way it's helped me is by understanding that when you sit down at a table, if you can't identity the chump(s), you probably are the chump.
That was a rather key insight that helped a lot in my trading as it changed my perspective on how I engage with other traders and educate myself.
It also helps me have a certain amount of patience through draw downs, but really that's just statistics.
That was a rather key insight that helped a lot in my trading as it changed my perspective on how I engage with other traders and educate myself.
It also helps me have a certain amount of patience through draw downs, but really that's just statistics.
So when you sit down at the trading apparatus, (be it a PC or phone or terminal, whathaveyou), are you seeing the faces of every other trader in your market to find their tell, and know when they are bluffing your entry?
Sure, if you're counting the profile pick they uploaded to EliteTrader.