Other games and the Beginning Trader

Discussion in 'Psychology' started by Maharaja, Mar 3, 2004.

  1. I know there was a thread about poker and the beginning trader (which I completely agreed with, as a tournament no-limit texas hold'em fan/player myself), but does anyone know of any other games that can churn you into a better short-term trader? I sometimes play speed chess (5min clocks or less) and this seems to have a some similarities with trading. Although some moves are made because the chess player sees many moves ahead and has a garaunteed result, some moves are made on probabilities that moving here will give me a better "position", etc... Some moves in certain situations are considered riskier then others, etc... Any other games or even "parts of life" you guys can relate to trading?
  2. Russian Roulette .:)
  3. marriage
  4. rwk


    Many traders, particularly in options, have also been casino blackjack players.
  5. mauzj



    How does Black Jack help trading? From what I've learned of it it's very hard to find an edge that can be expoited (successful card counters get banned and Shufflemasters remove their edge anyway), and if this is correct then players are just gambling and expected to lose in the long term.



  6. Getting school grades is a fun simulator for making money trading.

    Having all top grades in every top course is a beginner activity.
  7. rwk


    There are parallels between blackjack and trading: lots of math and statistics, positive expectancy, luck, pressure, attention to detail. I know at least one card counter who hasn't been caught [yet]. I also heard a story about a fellow who developed a systems for baccarat that was based on non-random shuffle. Horserace betting can also produce a positive expectancy. But betting games are all much harder than trading, IMO.
  8. mauzj


    Hi rwk,

    It's interesting that you mentioned Horse Racing. A friend of mine was interested in buying a system (Proven Betting Systems from Fleet Street Publications Ltd) for £57 and seeing as I've had some luck with the ponies lately I decided to reinvest my profits and went splits with him.

    I'm 99% skeptical of this report but thought that it might be worth a £28.50 "bet" to get some ideas.

    Good night,