oh get off it guys. It started with the poker player not knowing where to start, and all I was pointing out is most of the experts are not even traders. If I said no one you ever heard of made their money in the market I figured some ET nitpicker would say, "What about Warren Buffet?" Check my record, I've been very clear on this issue and I don't want to talk about the past, I want to lead this discussion forward. We need to win the future before it get's here and it is too late.
Lot of good advice in these posts, but the OP seems to have disappeared. I totally get the concept about a pro poker player transitioning to trading, but the OP carried a huge red flag for me. This guy seems to be an adrenaline junkie. That can be deadly when trading. We all know the impetus to take a trade that isn't there just because we're bored, or missed the last setup, or are goingout of town tomorrow and won't be able to trade, etc etc. A guy in one of the Market Wizards books said you will generally get out of the markets what you're looking for. If you crave excitement, you'll get it, but at a cost.
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money. I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it... Systems donât need to be changed. The trick is for a trader to develop a system with which he is compatible. I donât think traders can follow rules for very long unless they reflect their own trading style. Eventually, a breaking point is reached and the trader has to quit or change, or find a new set of rules he can follow. This seems to be part of the process of evolution and growth of a trader. A fish at one with the water sees nothing between himself and his prey. A trader at one with his feelings feels nothing between himself and executing his method. Lungs Lose Air about Half the Time. Things you Measure Tend to Improve. Becoming a better trader and becoming a better person seem to go together. Most people are really pretty agreeable, until you try to change them. We are all here on this planet, temporarily, sharing some room with each other. Some chop wood and some carry water. If you want to know everything about the market, go to the beach. Push and pull your hands with the waves. Some are bigger waves, some are smaller. But if you try to push the wave out when itâs coming in, itâll never happen. John (Bollinger) tells me audiences can sit for hours and listen to him describe his famous, and simple, equation. They cannot, however, stand to listen to advice about risk management or sticking with a system. Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top. It can be very expensive to try to convince the markets you are right Ed Seykota
Trading is not the same as poker. Trading is about trading the least possible. Poker is about playing as much as possible.
I made a lot more then 4-5K per month. There are still sites out there but they are risky because the DOJ can come in and shut the sites down and seize your funds.
I was one of the top mid stakes players on PokerStars in the past two years. Played from 400NL to 2000NL. I logged in over 1million hands last year. I got 13th in the WSOP main event two years ago. Chopped the Sunday million as chip leader. And I attained Super Nova Elite status two years in a row on PokerStars.
Yes. There are only 252 trading days in a year. Thus trading opportunities are limited. There are millions of poker games per year, so poker opportunities are far more.
Negreanu is the biggest usa ass in the game. youtube.com/watch?v=fI-NpbBwoq8&feature=related Hellmuth becomes a cry baby. youtube.com/watch?v=arbQBy5hxcw&feature=related tony G is a world class aussie scumbag. youtube.com/watch?v=p6U8Va8wFeg&feature=related