error on the first post. I am a semi pro poker player and a stock trader. I know there must be other serious poker players here.
I am a professional stock trader, and serious poker player (non-professional). I think that being a poker player is easier than stock trading, since you are more easily able to choose the desired level of competition to be profitable. For example, a newbie poker wannabie can play in the nickel/dime tables and quickly become profitable. Over time, he/she can 'graduate' to the 10/25 cent tables, all of the way up to the $5/10 tables or higher. If they run into a bad streak, they can drop down a level or two in order to play against weaker competition. However, with trading, it's you against the market, and you are unable to pick and choose the competence level of your competition. That said, I think that trading is much harder than low stakes poker, and much easier than world class poker. If I were to pick a level, I would estimate that the ease of successful trading might equate to ease of being successful at $5/10 or $10/20 internet (limit) poker.
I'm interested in learning to play poker with my free time, any reading material you guys would suggest?
I never, ever, blew out my poker account. However, in my first two years of trading I blew out my account twice. When I go on tilt in poker, I might do something stupid in that tournament or session but I can walk away from it and come back the next day recomposed. In those first couple years of trading, it was equivalent to being on tilt the whole time. I could never accept a losing trade for what it was, a reasonable gamble that went the other way. It took a long time for me to come to grips with the gambling nature of trading. In fact it wasn't until I read some poker books (Sklansky) that I started to become successful in trading. On the other hand, I could always deal with folding a four flush if the pot-odds weren't right and seeing the card come up on the river (or staying in with the right odds and not getting the river card). I understood from the beginning that the cards will fall where they may. Took a long time to come to grips with that in trading.
Which is easier, being a brain surgeon or being a Porsche mechanic? Porsche mechanics give one answer, brain surgeons give another. But who is right? Howard Lederer and Steve Cohen give different answers. But who is right?
Howard Lederers Income = maybe 5-10 million max Stevie Cohens Income = 40 -100 million Which one would you say is the smarter of the two
How the hell can you compare poker with trading? Poker is much much easier to master. I think most players overestimate their skills. They are just running good. Good bankroll management can get you far by itself in poker. Learn how to adjust to your opponents. If they are playing tight, play a little less tight. If they are loose, play a little less loose. I know there are lots of advanced concepts in poker, but it's easier to be a profitable poker player, even make a good living at it, than to make a living from trading. Just my opinion though. I probably suck at both.