Howard Lederer: On Poker and Trading

Discussion in 'Events' started by Trend Following, Nov 3, 2009.

  1. Murray Ruggiero

    Murray Ruggiero Sponsor

    It depends if we are talking about cash game poker or tournaments. Tournaments are a game of controling risk not to get crippled, sometime you fold hands with postive EV because of the point your at in the tournament. Cash game you want to just make as much of positive EV as you can since you can just rebuy.
     
    #31     Aug 31, 2010
  2. In my younger days, I played poker an average of 2 or 3 nights a week... for about 10 years.

    As the bluff is such a big part of poker, and as there is no genuine bluffing in the market... I see very little correlation between poker and trading.

    If you want to make analogy between trading and a gambling game, I'd say counting cards in black jack is closest.
     
    #32     Aug 31, 2010
  3. No correlation?? the psychological challenges are identical imo.
     
    #33     Aug 31, 2010
  4. Sorry, don't see it.
     
    #34     Aug 31, 2010
  5. nickdes

    nickdes

    You really think, that the markets do not bluff?????? LOL
     
    #35     Aug 31, 2010
  6. You talking about a fake order on the DOM? To suck some scalper into a 2-tick play? That's not comparable at all to the bluff in poker.

    I've done more than most at both. Seems the correlation is quite thin, if any exists at all. Winning at poker, especially no-limit or table-stakes, has a high component of luck. In trading, the need for luck can be virtually negated by behavior.
     
    #36     Aug 31, 2010
  7. nickdes

    nickdes


    Well, you go ahead a keep on thinking what you want! : ) Bluffs happen far bigger than what "you" think!!!!!!
     
    #37     Aug 31, 2010
  8. Please explain one to me... one of consequence and comparable to bluffing a competitor off of a winning hand so that you win the pot. Please, just one.
     
    #38     Aug 31, 2010
  9. fhl

    fhl


    Stops are run all the time. .

    Running the market past key levels. (which seeks to take out those who don't use hard stops)
     
    #39     Aug 31, 2010
  10. Not the equivalent of a "bluff win" in poker.
     
    #40     Aug 31, 2010