Poker and the Beginning Trader

illiquid...try multi-tabling 5 handed 1/2 . You will see more hands and at the same time can lower your starting hand....peace

 

I hope you are more experienced with trading than you are with playing cards.

You talk alot of the similarities between poker and trading, yet, you are less than a beginner playing cards.

I have played in $10,000 NL events and I don't even consider myself a good amateur player, let alone start a thread about how poker is similar to trading.


peace.

I got my A$$ handed to me trading today if it makes you feel any better. Was up $3800 by 11am and finished down over $5000 for the day!

 

Who are you addressing? How do you know our abilities in cards?

 

Yes I found awhile back that I can only play correctly(?). If I at least 4 table 6max NL, But mainly full ring NL tables. I'm not at the 8-16 table stage yet.

Oh yeah do people still trade for a living I have forgotten?

Again thank you traderNik for starting this thread over 2 years ago.

Last October I started my poker adventure because of this thread.

Put all my trading cash in GOOG, thought it was overpriced then, & just play poker now.

I have also been wondering if guys care to share your 2+2 names, if you are regular posters over there. I'm mainly just a lurker there, like I am here.

& thanks again to all of you who keep this thread alive.


ps: look post #111 after 4 years here.

 

At the last WPT event I watched 3 of the people at the final table qualified online. Amazing. Online poker has come a long way since this thread started.

 

Not sure if this was addressed to me, but if it was...

You have a reading comprehension problem. I suggest a night course.

Re: your bad trading, it doesn't make me feel better or worse. It does allow me to understand your previous analysis.

That is all.

 

60 Minutes has a segment about online poker, tonight.

http://www.cbsnews.com/elements/2005/06/15/in_depth_showbiz/whoswho702056_0_4_person.shtml

The teaser promo being used during today's CBS-televised pro football games is,
"If it's illegal, then why are so many Americans doing it online...?"
(Possibly a repeat segment but worth checking out, anyway)

I-Gaming: Illegal And Thriving

Nov. 17, 2005
--------------------------------------------------------------------------------
(CBS) So many Americans use their computers to gamble on overseas Web sites that if those virtual casinos were to be regulated and taxed by American authorities, tax revenues would be in the billions of dollars.

But the federal government says Internet gambling is 100 percent illegal, and people who want to keep it that way believe that the sites, legal in a growing number of foreign countries, can never really be effectively regulated.

What’s more, they say, those sites can and do corrupt children and create more addicted gamblers. 60 Minutes correspondent Lesley Stahl examines this contentious issue this Sunday, Nov. 20, at 7 p.m. ET/PT.

In Britain, where many online gambling firms are based, a gaming executive says America’s treasury is missing out. “We calculated that, were America to have regulated the industry in 2004, the American states would have earned $1.2 billion in tax,” says Nigel Payne, who runs London-based Sportingbet, one of the biggest online gaming companies.

Payne says he would be glad to pay an American tax in return for regulation of his industry, which he believes would eliminate some of the less-than-reputable sites he competes with. Payne estimates that 12.5 million Americans gamble on the Internet.

Bets placed from the U.S. comprise as much as 80 percent of global online gambling, and contribute most of the $10 billion in profit the overseas “I-gaming” industry will make this year.

Despite a long-standing federal ban, more Americans gamble more money on the Internet each year. U.S. authorities have never prosecuted individual bettors and don’t plan to start. Web site operators are beyond the reach of U.S. law because they’re all based overseas, so they operate with impunity, even spending millions to advertise here.

The U.S.’s own domestic gambling industry, which long opposed legalizing online gaming, has begun to shift its position. Seeing offshore competitors make billions while his U.S. company is shut out of the Internet is frustrating for MGM/Mirage CEO Terry Lanni.

“There’s gaming in every state but two states in the United States,” Lanni says. “If it’s legal [in 48 states] and it’s regulated and taxed and we’re comfortable with it, why don’t we allow it also in the area of the Internet? It makes no sense.”

But there’s no serious move yet in Congress to legalize the industry, and at least one member, Sen. Jon Kyl (R-Ariz.) wants a new law to put more teeth in the federal prohibition against online gambling. “It’s so easy to do. It’s so easy for kids to do. It’s so addictive,” says Kyl, who’s pushing a bill that would prohibit U.S. banks and credit card companies from handling any online betting transactions. “We may not be able to stop it all, but if we can stop the major part of it that’s coming from offshore, we will have done something very, very good.”

Kids can get onto some of the overseas sites, as Alex Hartman, the 16-year-old son of 60 Minutes Producer Rome Hartman, demonstrated. Using his dad’s credit card, he gained access to a gaming Web site and quickly lost $100 playing roulette.

Some sites rejected him, however, including one owned by Payne’s company.

Payne says properly regulating the industry so only responsible companies like his will survive is the best and only way to control the inevitable. “Think people are going to stop gambling? Seriously? Do you think the Internet’s going to go away?” he asks Stahl.

 

Amazing that some people think prohibition will work. Just like the debate over downloading; the industry tried for years to ban it, then finally figured out that it wasn't going away, so they decided to actually do the work necessary to figure out how to make money off of it. In fact it wasn't even a record company that ushered in the new era of for-pay downloads.

I am entered in an event which has as first prize an entry into the WSOP next year. I'll let you all know if I win

I have really fallen in love with brick and mortar play. There is nothing more enjoyable than spending some time sitting across the table from a guy and trying to get all his chips. And here at least, the live tourneys are at least as loose as the 'net, if not more so.

Is there another game that reveals so clearly the peronality characteristics of the participants? I don't think so.

 

Thanx, that's worth a tivo. Amazing how whenever politicians defy the constitution by trying to take away more of our freedoms, it's always 'for the children'.

You know what would <b>really</b> be good for the children? Dismantling over 90% of the federal government, revoking all prohibition laws, and granting Liberty and Justice for all.

 

Amen Brother!