Hey Guys, I'm a former poker player. After the DOJ cracked down on pokerstars and fulltilt, I'm out of a job. I want to pursue a career in trading for obvious reasons... similar skills set etc... When I was playing poker, I was using 3 monitors running 24 tables of 6 max no limit poker @ 6-,000 -8,000 hands a day. I can intake a lot of information at once, recognize patterns easily, and am very analytical. Any suggestions on what type of trading I should do? Where I should build a foundation? Coaching? Courses? Etc? I noticed that some established prop firms have training courses but they run from 1k to 10k depending on packages. There is so much information out there and it seems like 90% of shady? I would really appreciate it if someone could provide me with any type of guidance.
Yes. And I hate it. Its slow, and you have to deal with degens...Love the freedom of working from home...
well, let me put it to you this way. If I told you I was a former trader and wanted to learn poker, what would you tell me? If I told you there was a course I could take for 10k which promises to help me play what would you say? My guess is, you would tell me to start small and see if I am cut out for it. Sounds like you have fear of that which you don't understand. Those guys you see on CNBC wearing suits and ties are nothing more than pit bosses. They don't make their money trading. As a matter of fact, almost nobody you ever heard of (with the exception of Warren Buffet) ever made a living trading. Until you've traded on your own for a while you don't even know enough to ask an intelligent question. Imagine me coming to you for advice and asking, "Does a straight beat a flush?"
DuyLe I don't play poker but curious i hear people say they play online all the time Are you saying their are no online sites that you can play poker ? Is the issue with being able to get paid ? Were you able to make 4-5 k per Month playing poker ?
Maybe don bright may offer a class on blackjack one of these days lol. He is a ex pro blackjack player for those that don't know He can teach us how to beat the game right don ?
First thing to do is think hard and honestly about how long it took you to get good enough at poker to be able to earn a nice living. Then, double that time, that's the length it will take you to make a nice living from trading, but even then that's no guarantee. Assume it took you 2 years at poker, that's 4 years to properly learn trading although the learning process, probably like poker, is always ongoing. How much cash do you have because that's another important point. if you have enough to live off for 4 years you're in a really powerful position, assuming that you then have a stake. Good luck.
Hello DuyLe, my highest respect for you. Pro Poker Players are really the best candidates for becoming Pro Trader, because they have shown they have patience and discipline But, there is no excuse for you here my friend, you have to start learn like everybody else, by studying charts and build up a business plan. The Discipline part comes much later, then. I give you this advice, dont take any trading course, they are all scamers. Plz, dont do it. Go to ino.com -> and sign in, inot marketclub, then go to trading school, there are interviews and seminars in pdf and video of the best traders in the world, like Linda Raschke, George Lane, Larry Williams and so on..... hundreds of seminars, for all kind of subjects about trading, and the membership is not expensive. But hurry, they might close this service some day. The only difference between Poker and Trading i have found is that: " You cant bluff the markets" !!! LOL !!! Good luck P.S.: You know it, poker is a strategy game toghether with luck. Luck can always beat the best strategy. But Pro Trading is just a strategy game, without any luck influenced. Thats why i have quit poker, because there was always a asshole who was better than me, and i wasnt so bad at all.... And i cant stand the feeling i am not the best in what i do, thats why i am born to trade, because there i am the best and nobody beats me. Its just me and the markets and my big ego and my goals.