Is FX like poker?

I am fairly new to this but i get the feel like this is like online poker.

[li]Takes lots of time and practice
[/li][li]Its not all logical
[/li][li]So much to learn
[/li][li]Only a small amount of people succeed regularly
[/li][li]sometimes the correct move can also screw you

Ive played a lot of online poker and this feels similar.

What do you guys think?

I think that description sounds a lot like [B]life[/B] to me.


I think poker and trading is similar because you eventually get a feel for probabilities and calculating your risk tolerance very quickly…

I like to play poker online myself every once in a while to keep both skills sharp :slight_smile:


I wonder why even try to make a comparison in the first place. Many things have similarities and yet they are completely different. I could make a longer list of differences between poker and forex than I could make a list of similarities. That being said, I think Forex is not like poker at all even though they may share similarities.

I don�t really know my poker but I did work briefly at a prop firm where they encouraged everyone to learn and play poker � To the point they actually had a dedicated room with table�. Without giving too much away they also had recruited to ex world champions and although they didn�t trade FX they were certainly big players.
With my limited knowledge of Poker it does seem similar as you try and make a decision based on the balance probabilities you also have the emotional side where you could find yourself backing a bet just for emotional reasons�� you can also confuse skill with luck!!!

I believe that there are a lot of things that are the same, I play a lot of online poker. It has the same concepts in that you have to keep emotion out of it, you need to calculate your risk tolerence, and you look for trends (pokertracker,poker ace hud etc).

I think that they will definately compliment each other, but don’t believe for one minute that because I am a winning online poker player that I have a right to the same success at forex trading…

both reqiure skills.

Forex is more to art as with so many indicators and system. It would let ur creative juice flow!

Poker and FOREX most certainly share many qualities.

First, to make it you need to have an understanding of probablities.

Second, in poker you can tell the amateurs based on their betting patterns, in other words money management. Novices will bet on anything, often employing martingale type bets. Experts will be very selective with their hands, cutting losses very quickly and going for the throat when the odds are in their favor. They have a methodology on deciding when and how much to bet. These aspects are very similar to experts and novices in the trading arena.

Thirdly, the psychological aspect is very similar. Novice poker players make decisions largely based on fear and greed. Experts players and traders have systems and methodologies to keep these 2 emotions at bay.

As someone who used to play online poker a lot (when it was legal in the US), I will have to say a resounding YES!

I also enjoy taking Pipcrawler’s money at the poker table. :smiley:

I’ve played some poker with my friends. I would say that it have similarities in the way that it is smart to bet when you have “the edge”.

You should know that “Ok, now I have good odds at cashing in”, “or now I don’t so I want bet, because the odds are that I will loose” The great thing about trading is that you don’t have to convince people that you are not bluffing. :stuck_out_tongue:

So the conclusion should be that when it comes to probability and risk asessment, FX and trading in general is a lot like poker.

  • Had to edit some stuff, since I was hammered when writing this yesterday. :stuck_out_tongue: