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

vanzandt said:
Bigot lol!? Where the f does that come from dude? Bad choice of a word there buddy in conveying the point that you are attempting to make. But that aside... I am the king of abstract ideas. I think anyone thats been here on ET long enough can attest to that. Pretty sure that's the ONLY part of my brain that works. I've done well with it. But whatever on that.

Now, here's the thing, and I apologize if I came off a bit condescending initially. All the things you said are true regarding the qualities of a good trader. But as another poster pointed out, those traits are pretty much required to rise to the top of any field. So yes... if you are going to be successful, and I hope you are... 1000%... those traits must be adhered to. So make sure you adhere. You will definitely be ahead of the game out of the gate. But that's where the similarities end.

The markets have a mind of their own, you can't go all in and bluff the S&P. You can't see the face of the cat on the trading desk that has access to millions plus leverage that's just waiting for enough suckers to go short or long a hyped up low float stock of the day so he can come in and in the matter of hours make 5% in one direction or the other, or both, gaming retail $'s. Not only can you not see him... you don't even know if he exists or not.

That covers low float stocks. Lets look at high volume stocks. Fang stocks. How will poker, aside from the discipline you described help you trade Apple intra-day? Explain that to me.

So you are right... those skills help... but you don't need 1000's of hours playing poker to learn them. You can write them on a post-it note and stick it on your monitor. Stick to them and you might have a chance... but you WILL need 1000's of hours of watching everything market-wise before you'll be consistent making money as a trader.

Like I said, welcome to the game. Keep us posted.
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"The markets are gonna eat you alive son.
But welcome to the game anyway.
Throw some more money in that RH account."
Maybe im just sensitive but i feel that was more than a little condescending haha and you are the king of abstract ideas? anyways, I am a intj and relate with you saying you feel this is mainly how your brain works. thanks for the apology. I am sorry i was rude back to you. As for the similarities most are abstract. yeah there is pot odds in relation to expected equity that relates but those examples are the minority. I don't think its as easy as a post it note. I think for most people its a frame of mind that takes time and practice to adopt. being a profitable poker player has already primed you with taking available info/indications and patiently waiting for +EV positions and executing them in a window of time etc. Poker obviously does not teach you all the steps to trade. never said it did. I simply came on here for people saying there are no similarities and if you happened to first be a profitable poker player and wanted to start getting into trading then there was really no benefit. Based off of what ived learned so far about trading. If I am going to find someone to teach poker, I would try to find a successful trader. I even clarified and said that studying poker for your trading makes no sense. but thanks for the reply and thank you for wishing me luck. Can't wait.
 
Symstep said:
I am a intj and relate with you saying you feel this is mainly how your brain works..
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INTJ... I had to look that up. "People with INTJ personalities are highly analytical, highly creative and logical."

Yep. Good call.
 
Haven't read all the pages on this topic, but my 2 cents which includes trading professionally and at times playing poker (professionally) for a living is that if you had to take 2 newbies and teach them either to trade stocks/futures or play poker profitably you would have more success with a successful trader and/or (vice versa) successful poker player than a fresh newbie.

The one true difference between trading and poker, in poker you start with the low limits and you'll find very very weak players. As you go up the limits the competition gets increasingly stronger. In trading you can start with the micros which might limit your losses, but you start at the same skill strength required at higher levels (ie, if you can turn a profit at micros, you should have no problem scaling up to 100x what you initially started at).
 
7out said:
Haven't read all the pages on this topic, but my 2 cents which includes trading professionally and at times playing poker (professionally) for a living is that if you had to take 2 newbies and teach them either to trade stocks/futures or play poker profitably you would have more success with a successful trader and/or (vice versa) successful poker player than a fresh newbie.

The one true difference between trading and poker, in poker you start with the low limits and you'll find very very weak players. As you go up the limits the competition gets increasingly stronger. In trading you can start with the micros which might limit your losses, but you start at the same skill strength required at higher levels (ie, if you can turn a profit at micros, you should have no problem scaling up to 100x what you initially started at).
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It is incredible, all these new thoughts about strategies that have come out since the micros were released, almost 14 months ago. So what was the strategy before May 2019? Nobody ever talked about MGC or the FX micros.

Odd.
 
Scataphagos said:
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.
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A number of name firms and big money backers disagree.

Susquehanna International, for one, teaches poker to its traders and has them play. Being a winning poker player is a plus on a resume, as well.

At SIG, general gambling theory is also taught and odd projects like sending blackjack teams to Vegas have been tried.

However, whoever puts up the money and training must decide for themselves.
 
The WSOP app is fun for practice vs live fishy donk players.. years ago I practiced in pokerstars sim multitabling, it was helpful
 
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