Trading vs Playing poker, will it help with my trading?
- Thread starter magix3d
- Start date
Dee makes a great point BUT I believe the OP is talking about the comparison of the game of poker and trading⦠not the personality type of each.
Also have to point out Deeâs definition of âpro poker playerââ¦I donât believe there is a true professional tournament player who males a living over the years + Dee is right about that there is luck/gambling involved in tournament playâ¦which he correctly points out there is none in trading.
But I respectfully disagree that there is no similarities to the game of pokerâ¦as in a ring game-it is all skill just like the trading and one must develop the skills that require success âas pointed out by the others above + I would also add ,poker teaches that one must throw out the losers as quick as possible-a skill most of us struggle withâ¦
Overall advice to the OP: Avoid playing tournaments and learn the ring gameâ¦it will help u greatly in your tradingâ¦.
Also have to point out Deeâs definition of âpro poker playerââ¦I donât believe there is a true professional tournament player who males a living over the years + Dee is right about that there is luck/gambling involved in tournament playâ¦which he correctly points out there is none in trading.
But I respectfully disagree that there is no similarities to the game of pokerâ¦as in a ring game-it is all skill just like the trading and one must develop the skills that require success âas pointed out by the others above + I would also add ,poker teaches that one must throw out the losers as quick as possible-a skill most of us struggle withâ¦
Overall advice to the OP: Avoid playing tournaments and learn the ring gameâ¦it will help u greatly in your tradingâ¦.
I play a lot of backgammon I have found it helps a lot in teaching patience and that just because you have a 90% chance of winning doesn't mean it can't turn around and be a throw away game.
The doubling cube in BG really does make it a game of skill. I would imagine that one can learn a lot form poker, try The "poker face of wall street" its a good book on poker and wall street.
The doubling cube in BG really does make it a game of skill. I would imagine that one can learn a lot form poker, try The "poker face of wall street" its a good book on poker and wall street.
The question was whether poker can help trading. You are reversing the question now and you are asking what parts of poker are not useful to trading.
You are reversing the burden of proof, a notorious logical fallacy. If you are trying to convince me that God exists, the burden of proof is on you, it is not on me to try to prove He does not exist.
Trading: many players, open game
Poker: few players, closed game
Poker: strictly zero-sum
Trading: positive or negative sum, depending on benchmark
Poker: few opportunities to revalue probability of initial bet
Trading: many opportunities to revalue probability of a bet (most important difference)
Poker: game has fixed start and end
Trading: open start - open end
and so on,
So tell me now, do you still think poker and trading have something to share?
Susquehanna International Group only hire good poker players as traders, so they seem to think so.
First of all, although you've asked a specific question about poker...
There are hundreds of other ways to learn and apply patience during very stressful trading situations to minimize trading problems. However, none of them will work (including getting better at poker) if you're bringing garbage (personal problems) to trading.
Mark
A 5 year treading career is still a noob to me kido
As someone who has traded for 25 years and has a lifetime of trading experience and has played poker for 10 years, I guess the EXPERTS will have to agree to dis agree.
You have also missed my point though.
I have trained 10 SUCCESSFUL poker pro's NOT the run of the mill losing player.
OP Brownsfan gave you an excellent exercise to try that will help your trading and if that's truly the reason for playing poker then I highly suggest you do it.
I've played a few games of poker (and won some). Poker isn't really a game I like to play but many of my friends do so I just tag along. From my experience I can say that it's a lot easier to be patient playing poker than it is when trading. With poker, you don't have to deal with the emotional stress that comes from uncertainty.
Just my opinion - in the past few years, trading has become more difficult than Poker because of external factors like automation. Trading has become much more multi-dimensional than it used to be.
I would wager that in today's trading environment, the number of successful (positive) poker players in a sample population would be greater than the successful (positive) traders in the same population. Certainly would be a great experiment/white paper/thesis!
Just my hunch / two cents.
I would wager that in today's trading environment, the number of successful (positive) poker players in a sample population would be greater than the successful (positive) traders in the same population. Certainly would be a great experiment/white paper/thesis!
Just my hunch / two cents.