some parallels that i've come to appreciate.. placing a trade is like placing a bet, your testing the market's 'hand' so to speak. after the 'bet' is placed your $ in the pot don't get bluffed out, the bet is right till proven otherwise! think, do i have a great hand at THIS time what can beat me??! i'll post more later
the poker site takes a capped portion of every pot... its a spread per say. poker sites offer lower spreads through affiliate marketers so they can receive traffic. typically the players with rake back the ones that play the most and pay the most commissions over thousands of hands... ive heard of players playing 100k hands at $200NL.. and there are countless others playing 10k-50k hands. ive heard a site like poker stars makes 10mm per day.. pretty good margins. they are willing to offer "pros" rakeback as they effectively increase the velocity of the balances.
There are overlapping skillsets, but that is true for any type of positive expectation wagering-type situation. As always, there is the consistent requirement for sensible capital management (bankroll management). There is the need to identify +ev situations, taking advantage and pass if they become -ev. There is the almost-a-requirement to stay objective and unemotional. It's not 100%, as profitable players, bettors and traders will slip up, and they're generally okay as long as they get over it and it doesn't happen too often. Being good at one doesn't necessarily mean being good at others, as each has a specific skill, but a +ev type mindset is generally profitable at those activities.
when placing a bet in poker you test the strength of your hand against the other players the TRADE placed TESTS your 'strength' , your position am i wrong,
the bet or trade once placed stay yje course till PROVEN otherwise, right? :eek: your emotions have nothing to do with , concentrate on your 'hand' and its potential ranking, right? don't muck it
before each trade (bet) i look at the chart ask myself.. would it make a good looking chart? if the answer is 'no", i don't place the bet :eek: all about good-looking charts!
Your hand is only important in how it compares to your opponent's likely range, and becomes less important the more you can outmanoeuvre them.