Former Poker player...Where do I start?

atticus · Feb 4, 2012

Quote from HATEtheRisk:

For US residents is real money online poker playing illegal.

First they have shut down fulltiltpoker and then pokerstars stopped real money playing for US residents.

If you life outside of the USA, its no problem.
And if you are good at it and you play 5 days a week, at least 10h a day, you can make easily 4-5k a week.

Just inform yourself about Isildur1. Hes one of the best players and makes millions a year.

http://en.wikipedia.org/wiki/Viktor_Blom

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@DuyLe

The other option is to move outside of your USA, go to Mexico, drink tequillas and play your favourite game.

Trading is pretty hard to learn, and reality is that you have absolutely no edges against other newbies.......

Go to Mexico.

Once you are in Mexico and make a good living of poker again, you still can learn trading, if you like.

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The second option, would be to move to Las Vegas and play on the tables on the casinos. But i guess its pretty hard to make a living this way.

But if you are really good, it could be done.
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Blom went bust over a year ago. I am curious what reading about Blom will do for his trading career?

beachhouse · Feb 4, 2012

Quote from Feeman:

Ask Pat Ditmar about this. I understand he recruited poker players to trade futures and gave them the training and technology. The tools he provided were proprietary, but I have no idea if these traders were ever profitable. That business is, I think, defunct, and Pat now is a vendor selling his trading tools (which he swore he would never do when he had the trading operation).
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so Pat Dimwit hired poker players to trade futures?

That shows Pat Dimwit has no clue of trading And poker.

shopster · Feb 4, 2012

Phil ivey is the master.

youtube.com/watch?v=m1ezRE0NeOA&feature=related

classic phil.

youtube.com/watch?v=2EmTTfezSnI&feature=related

rosy2 · Feb 4, 2012

one thing I have noticed in poker, trading, or any wagering event is if you want to succeed be passive aggressive. Meaning be a chicken most of the time but then bet huge other times.

ammo · Feb 4, 2012

Quote from DuyLe:

Hey Guys,

. 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.

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if you are an odds analyst,you could trade options,Blair Hull was barred in Vegas for card counting and came to the CBOE appx 1980,noticed the pennies and quarters in the inefficiency of option pricing and built a system to collect it...you could send him a resume.... http://en.wikipedia.org/wiki/Blair_Hull

illiquid · Feb 4, 2012

You want to know what trading stocks will be like for someone just starting out in today's market? Playing against 8 computer programs that can see your hole cards.

Swan Noir · Feb 4, 2012

The logic is flawless.

Quote from failed_trad3r:

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.
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Xspurt · Feb 4, 2012

Quote from failed_trad3r:

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.
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This belongs in the Hall of Fame for ET quotes.

Swan Noir · Feb 4, 2012

High praise indeed considering how stiff the competition!

Quote from Xspurt:

This belongs in the Hall of Fame for ET quotes.
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hitnrun · Feb 4, 2012

DuyLe

you know most people say they make money playing poker
good to see your a profitable player that has earned good money

Your success in poker may not translate to being profitable with trading
They are two different worlds

if your chasing trading just to make money then you may be in for a rude awakening

Maybe playing live is the way to go since you have the skillset to make money

all the pro's play in the casino's so how bad can that be to earn a living

you should consider the next best choice when you have to adapt to changing conditions