Poker player moving to trade/advise please

[syswizard]

I don't agree with those who say there's no comparison to poker. It's simple.....from Kenny Roger's song:
"You got know when to hold em, know when to fold em".
When you are in a trade, you gotta be riveted to the price action.....and if you are wrong, just get the F*ck out...
and if you are right, know how long to hold that trade and when to get out to maximize your profit.
That's the essence.

 

[Bye aces]

Strange..what are you playing? Any of the top strategies are still crushing 5/10 live for 8-12 BB/100 in holdem. Omaha has higher win rates at the same level. My friend recently took me to a dog race track in Melbourne(I think that's the name) florida. We ended up playing 10/10 PLO with truck drivers (full ring). I dont think you'll ever get those opportunities in trading.

I play sng up to 300$ and I still make a good living of that but it is just 25% i used to last years. So i need something new to motivate and give me new expectations

 

[Bye aces]

There is no true conditional probability in trading. The edges simply aren't that large outside of vol/skew-dynamics.

I thought there would be some. Thats what I am looking for

 

[Bye aces]

trading you may be interested in: scalping (multiple 'round trips' per day)

I think scalping would be more my style as I m used to 4-5 tabling for 10h+. I would like to have some action. btw thanks for the tips

 

[userque]

Among the top poker players, the vast majority of them have serious, compulsive gambling problems. Only certain older veteran players that have diversified into more stable investments, achieve any level of financial stability.

Very aggressive, well-timed gambling is required for poker success, whereas in trading one can practice various forms of arbitrage without ever taking a major risk.

Trading and poker attract a very different psychological type. You can be great at one or the other, but rarely at both. You’re either an arbitrageur that minimizes volatility or a gambler that feeds off action and chooses high volatility.

Applying poker variance to trading will always result in disaster, and applying trading discipline to poker results in a weak/tight playing style which guarantees losing. The only overlap is understanding the nature of randomness and zero-sum games.

Hedge funds put their money where their mouth was regarding poker players. All I'm asking of you are a couple of respectable links to back up your opinions? Or an explanation as to why we should believe you over the Hedge funds or Market Watch?

 

[Bye aces]

http://thepatternsite.com/chartpatterns.html

that seems very interesting. I more like a practical than theory guy. ty

 

[userque]

I think scalping would be more my style as I m used to 4-5 tabling for 10h+. I would like to have some action. btw thanks for the tips

Yes, many of us started out scalping. Follow my advice regarding books ... and let it all play out. Your particular expertise will eventually rise to the top.

 

[BaconSandwich]

Trading and poker attract a very different psychological type. You can be great at one or the other, but rarely at both

and in most instances neither...

 

[Bye aces]

I have to disagree with this. Risk management in poker is just a matter of playing pot odds divided by number of players in the hand? But trading isn't like that? There are an infinite number of players on the opposite side of a trade?

Poker nowadays is way more than that. Poker players are now calculating GTO(game theory optimal) which should be an unexploitable game and then you need study the results to find patterns and create ranges pre and post flop.

 

[userque]

that seems very interesting. I more like a practical than theory guy. ty

Ok, what are the odds of pocket kings?

Ok, what are the odds that a head and shoulders pattern will 'go your way?'

What are the odds that any of those patterns will 'work' in any given situation?

Stay true to what you know; what you've learned over the years--math.

Poker hand odds can be proven/repeated. This was your bread and butter. Don't buy into hocus pocus without evidence.

'The pattern site' may be the holy grail; but don't believe that without evidence.

That site has been around since at least 2005. Surely they've amassed some studies proving what they're 'selling;' proving the efficacy of their patterns.

Oh yeah, don't forget to donate to that holy grail--but still asking for donations--website: http://thepatternsite.com/Donate.html