Trading and Poker - Page 2
Page 2 of 3 FirstFirst 1 2 3 LastLast
Results 11 to 20 of 29
  1. #11
    Join Date
    Aug 2010
    Location
    Cloud Cuckoo Land
    Posts
    50
    The only thing Poker and Trading has in common is that you need appropriate money mangement. Meaning spreading you load wisely. If your average skillset beats midstakes(200nl-1000nl) than it is very foolish to sit @ a 2knl table or higher if there aren´t any fish on that table(meaning you are actually the fish at this table). Even if your bankrollmangament is good and you can afford it. Thats money management in poker in general. Sitting in games that are +EV for you. Finding out if this game is +EV or not is a whole different story I´d say it takes a lot of hands and experience to know if this game is profitable and within your money/risk management.

    In trading there is a similar aspect regarding money management and risk management. You have to know in what situation you will enter according to you rules if the rules doesn´t apply you will not enter the market.

    But I would guess that if you understand risk management in poker you have an advantage over other starting traders. But it doesn´t mean you beat the game.

    I think if you want compare other aspects there is a lot more psychology in poker than in trading. I don´t want to offend anyone but if you play like 4 heads up tables at once you know what I mean.

    Conversly you don´t really know your opponent in trading. You don´t know who took the short if you are taking the long. The main difference is that in Poker you can quit and there is another day. In trading if you have your trading plan, you have to stick to it even if you have 10 losers in a row otherwise you will lose the game.

    I´m sure I could come up with other aspects regarding MM in poker and trading but I´d say it that way: My trading isn´t anywhere near to my poker game.

  2. #12
    Join Date
    Mar 2011
    Posts
    5
    Quote Originally Posted by Aerozot View Post
    Poker is ALL about human psychology. It's all about you being able to intimidate people when bluffing. It's also a little about luck and a lot about skill. Same as Forex. Lots' of skill, little luck and good discipline
    This is maybe the worst assumption about poker ever!

  3. #13
    dobro is offline Superior Master Contributor and Member
    Join Date
    May 2007
    Location
    US central time zone
    Posts
    940
    He got it somewhat right -skill and good discipline. He must watch too many of the edited poker tournaments where they emphasize the bluffing action for the tv audience.
    Quote Originally Posted by Rulersepp View Post
    This is maybe the worst assumption about poker ever!

  4. #14
    Join Date
    Mar 2011
    Posts
    5
    It was the assumption that Poker is ALL about bluffing and trapping your opponents. That's just BS

  5. #15
    Join Date
    Aug 2010
    Location
    Cloud Cuckoo Land
    Posts
    50
    I´m pretty sure this assumption is from the TV shows. It is better for entertaining purpose but it has nothing to do with the game itself. The game nowadays is in some way very technical, just like chess. There are strategies that some of your opponents are using and you have to counter those strategies. Thats all. If that counter strategies involve more bluffing so be it.

  6. #16
    Join Date
    Apr 2010
    Location
    UK
    Posts
    155
    Quote Originally Posted by Jean View Post
    If you have $5000 in you poker bankroll you can choose to only sit down at the table with $100 or 2% and it would be no different than setting a stoploss in forex
    But how often will a trader extend their stoploss when price is moving towards it? For the undisciplined trader, quite alot.

  7. #17
    Join Date
    Mar 2009
    Posts
    4,341
    At the poker table, there are certain "distractions" which you don't have to contend with in forex trading:


    Last edited by Clint; 04-05-2011 at 07:05 AM.

  8. #18
    Join Date
    Dec 2009
    Location
    reno nv
    Posts
    3,460
    Quote Originally Posted by Clint View Post
    At the poker table, there are certain "distractions" which you don't have to contend with in forex trading:


    Those chip stacks are quite impressive.

  9. #19
    Join Date
    Mar 2009
    Posts
    4,341
    Quote Originally Posted by Master Tang View Post

    Those chip stacks are quite impressive.

    You're right, Jay. They sure are stacked.

    The chips, I mean.

    I'm talking about the chips.

    (Sorry, was I getting distracted?)

  10. #20
    Join Date
    Dec 2010
    Posts
    7
    Go to poker listings website and look under blogs to see Eugene Katchalovs story of transitioning from day trading to poker

    cant post link not enough posts

    The thought processes for the two are very similar. I look to get my money in with a high probability that my hand is ahead of my opponents range of hands and sure there is a percentage of the time where I am weaker but as in trading not every signal I receive is going to be correct 100% of the time. If you played the hand correctly or planned the trade correctly the outcome will go your way more often than not which makes you profitable.

Forum Sponsors

Similar Threads

  1. How different is forex trading and stock trading?
    By dawsion in forum Newbie Island
    Replies: 10
    Last Post: 04-20-2016, 08:02 PM
  2. Replies: 12
    Last Post: 03-17-2014, 11:52 AM
  3. Swedish trading and taxes.
    By Runqen in forum Newbie Island
    Replies: 10
    Last Post: 03-17-2013, 02:46 PM
  4. Swing trading AND time frames
    By nesmithdj in forum Newbie Island
    Replies: 7
    Last Post: 05-02-2012, 12:34 PM
  5. Replies: 1
    Last Post: 01-12-2007, 01:09 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"Unless a man undertakes more than he possibly can do, he will never do all that he can."
Henry Drummond