Poker and the Beginning Trader

Discussion in 'Psychology' started by FanOfFridays, Jan 3, 2003.

  1. How many people do you think make full time living from poker? Look, you may believe in any fairy tales you want - feel free to dilute yourself further.
     
    #681     Nov 20, 2005
  2. In Europe, all his life he played the ponies and numbers (sports) mainly soccer.
    He won the lotto twice ! so he must have used up all family karma for gaming.....
     
    #682     Nov 20, 2005
  3. Oh, I'm only an American player...California and NY circuits primarily. Dabble in football but no big money wagers. Sorry to hear about your father.

    Any good casino stories?
     
    #683     Nov 20, 2005
  4. I notice you didn't answer my question - understandably.

    I'll answer your question though. How many? I don't know. What is your point? A few, 35, 128, or maybe 42 or maybe 2,134 worldwide, or maybe 965 in the democratic west or maybe 50 in all or maybe 6 in France and Spain put together.

    I did not say it was easy or that there were tons of guys making a living. I was responding to your words. Let's go to the tape, shall we?

    Wrong, obviously. You have no scientific or other basis upon which to make this claim. You just couldn't play that well so you are using this as an excuse. Poker is a game of skill and over years the cards are the same for all players. The same players win over and over again. This is the fact. The win because they are the most skilled, just like the best traders who take home most of the money, for the same reason.

    This is so silly, it doesn't merit a response. How in the hell would you know this?

    You said this in support of your argument that people can't make a living playing poker. Instead of responding maturely to my counter assertion and attempting to support your claim, you called me names and ran away.

    You posted and said that it was impossible to make a living, then you changed your mind and said that you quit playing because your luck was too bad. I then posted and said if you are changing your story, my previous post was moot.

    I will continue to try to dilute myself. I know that at full strength I can be slightly corrosive. Thank you and God Bless you.
     
    #684     Nov 20, 2005
  5. TraderNik is 100% right, as usual.

    Luck is just a short term factor, and if taking bad beats upsets/frustrates/puts you on tilt, poker isn't for you. Play chess instead.

    ___________

    "Poker is a game of skill and <b>over years the cards are the same for all players.</b> The same players win over and over again. This is the fact. The win because they are the most skilled, just like the best traders who take home most of the money, for the same reason."
     
    #685     Nov 20, 2005
  6. shut up, I am watching the 'pros' on TV (2005 world series) :)
    yes, there is no luck in poker, I am always wrong and nobody can be unlucky at one game....ok you win, keep on playing...
     
    #686     Nov 20, 2005
  7. i agree with online poker being too much (b.s.) "luck" --

    assuming it isn't rigged and is totally random-
     
    #687     Nov 21, 2005
  8. I've met many poker players who either:

    A: Are successful, steady winners who have made more money from poker than most people make from 'regular' jobs.
    B: Complain about bad beats.

    But I've yet to meet <b>anyone</b> who falls into <b>both</b> categories.
     
    #688     Nov 21, 2005
  9. Then you've never met Phil Helmuth.
     
    #689     Nov 21, 2005
  10. Poker is to trading what checkers is to chess. One is far more complex than the other, but they are still comparable.

    If you think poker is 'gambling', you don't understand poker.
    There is a luck factor involved, but over the long haul the best players always win, the fish always lose, and the players who believe they're gambling are always fish.

    Risk management, pattern recognition, psychology, not getting emotional over losses, only playing when you have an edge, etc.
    I'd say there are plenty of parallels between poker & trading.

    I'd love to play a high stakes freezeout* (we play until one player has all the chips, and the other has nothing.) against any of these guys who think poker is all about luck. I'd even hand him 5% of my stack as a handicap before the first hand is dealt. If it's really a game of luck, they should be falling all over themselves to take the deal...

    * A series of multiple freezeouts would be better. I'd raise the handicap to even more than 5%, should any 'gambler' agree to play. I'm near Chicago.
     
    #690     Nov 21, 2005