Topic: Play poker to train trading - page 4. (Read 1917 times)

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

In my opinion trading and poker are very similar. Interface is the only difference. Rules are the same.
I know that part of you will disagree with me with my very first sentence by saying that poker is game of luck and trading is based on indicators, supports, TA, FA and many more. Well you know nothing about trading and poker then

Why poker is not game based only on luck if cards you get are totally random:

Yea. Cards you get are totally random. But how to explain that we have so many professional poker players that play poker for a living? Well the only thing that they differ form those who are loosing is money management and discipline during bidding.. Bidding is the first and only moment that determines if you will lose or earn in poker. That's the hardest part that needs experience. Why?
With infinity plays you will have every possible card set. Good once, bed once. Sometimes you will lose sometimes you will earn. Key is not to lose less times. That impossible. Key is to lose less money with bed cards than you win with good cards. That's where money management and discipline comes. In poker that's especially hard because you have to say good bye to your money even with quite good card without battle if bidding is going too far and calculated probability of winning is showing you red light to bet higher. But that's the hand that makes bed player go home with 0 and good players stay and fight again.

How about trading?

In trading, you also don't know your opponents "cards". You don't know who is on market (whale are buying or bunch of fomo noobs). If whale than how much money he has left, when will he dump. TA may show various of buy signals but on the other hand that's the best moment for whale to dump (best price and best volume when everyone is sure that price can go only in one direction - f.e after breaking resistance). Will he dump or not? Is support holding for so long because someone is buying at that point or maybe whale stops to sell to don't break it to don't cause panic selling?
How about Fundamental Analysis? That's where we may be even more cheated by insider trading. When news hit market price is very often pumped by whales who new before. NEWS from which you do FA may also be faked by coin team. Even team might be faked.
It means that trading is game of luck? No. That's where money management and discipline comes. Same as with poker. Key is not to lose less times. Key is to lose less money with every bad trade. To cut looses and say good bye to your money even with "quite good card". To learn to enter only those trades with high probability of winning (TA buy signals) combined with low risk (close to support where you could set stop loss). TA indicators are easy to learn in 1-5 days. Good trader is able to earn on market for a living after few years of experience because discipline and money managements takes so much time to master in trading. That's where poker comes in. You can train those skill playing poker where every bet takes minutes not hours/days. You can master those skills faster and even for free playing for unreal money.

Professional trader and poker player will say the same thing: -You lose the most when you are sure that you will win

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

I guess I don't have to just to train trading since I don't really play poker a lot, my passion in gambling is different but I can say that being a gambler as long as your game requires proper analysis, it can be helpful in learning how to trade.

Every trader is hoping to be successful, but everyone has their own style and since this is about judgment done in a certain timing, no strategy that is fix for this as all are done in a given situation.

Winning in poker will be a combination of luck and strategies which is a big difference in trading where you can use our only best strategies in order to make money.  The good thing in trading is that we can always be at the right choice of our coin cause we know already the market and it is already on the list unlike in poker where absolutely zero until we open it.

Indeed for me, OP was right. I can be considered that the strategy we can use in the poker game might be used also in the trading. Strong guessing cards just like picking good coins to trade. If you had a wrong move, of course, you also lose your fund. Even though they had similarity but overall the risk was there and it depends by luck you had. Well, just focus on one habit. Indeed, If you are getting a passion for poker then focus on it, not in trading.

IMHO the biggest lesson from poker is that you can't always win. Sometimes you have to take a small loss to save whatever remains of your investment. That you don't always have to "call".

You know nothing about poker my friend. You are bidding in poker not only buying in and showing cards. With bidding, you can do money management. I have 2 pairs so i can put max 5% of my wallet hoping to not be overbid and win. Like in trading. I'm bouncing from support. I'll set stoploss just under risking 5% of my wallet hoping for profit till next resistance.

If you are playing poker with strategy like: - I have 2 pairs. Let's see if i can double with that and you put all your money on table than definitely you won't learn anything from poker.

This post made sense during the bearish market when profit making was hard like gambling.  I guess most experienced cryptocurrency traders would disagree with it today.

Good crypto traders can make profit from most of their trades... not sure this is the case with gambling

I don't think that playing poker will help you get better knowledge in trading because these are different areas of earning money.