Right! Putting villains on ranges is critical, one of the most important skills to develop in hold'em. Negreanu and Ivey are masters. See 2plus2 forum. On the flip side, being adaptive based on ranges you play in early vs late position is key. I won my first small tournament 7 years ago.
That's a BS answer, because it not only gets you out of answering the unanswerable question, but also shows your contempt for Jim Cramer.
Hahahha. No there's not. What you're seeing is viewed thru your own eyes. You don't know enough to know any difference. You need to listen to a pro. Year 2000 or otherwise. There's no correlation at all, unless maybe it's one's willingness to lose money and get over it fast. Or your ability to keep your cool when you're in the red. The markets are gonna eat you alive son. But welcome to the game anyway. Throw some more money in that RH account.
Successful online poker players with hundreds of thousands dollars/year in profits (+NL500): - Most of the cases has millions of hands of experience - develop their own complex strategies to fight against their opponents - perfect money management - improving and adapting every day If you are a successful online poker player maybe you are not interested in trading, because both needed thousands of hours of experience and study.
I am an above average successful trader, but I never played any card game. Have no clue what poker is all about. So to me being good on poker is completely irrelevant. Having these qualities is needed for many activities: in business you need them too. So a good businessman is also a good trader?
No they are not the same thing, just have a lot of similarities. There is. Especially in the over all psychology of the two. What you are seeing is through your eyes. Instead of being a bigot that struggles to understand abstract ideas, just go google it and do some research since you cant see that. yes the market may eat me alive just like online poker did my first year before obsessively studying. We will see
Absolutely. Ivey among others are on a god like level. Its insane. Congrats on your poker success. I read a statistic that only 10-15% of poker players are winning players. its a tough road to get there but rewarding. I look forward to trying to achieve this in trading especially since I read a similar statistic and if a success rate is achieved through sample size, exponential growth potentially is easier than in poker.
Bigot lol!? Where the f does that come from dude? Bad choice of a word there buddy in conveying the point that you are attempting to make. But that aside... I am the king of abstract ideas. I think anyone thats been here on ET long enough can attest to that. Pretty sure that's the ONLY part of my brain that works. I've done well with it. But whatever on that. Now, here's the thing, and I apologize if I came off a bit condescending initially. All the things you said are true regarding the qualities of a good trader. But as another poster pointed out, those traits are pretty much required to rise to the top of any field. So yes... if you are going to be successful, and I hope you are... 1000%... those traits must be adhered to. So make sure you adhere. You will definitely be ahead of the game out of the gate. But that's where the similarities end. The markets have a mind of their own, you can't go all in and bluff the S&P. You can't see the face of the cat on the trading desk that has access to millions plus leverage that's just waiting for enough suckers to go short or long a hyped up low float stock of the day so he can come in and in the matter of hours make 5% in one direction or the other, or both, gaming retail $'s. Not only can you not see him... you don't even know if he exists or not. That covers low float stocks. Lets look at high volume stocks. Fang stocks. How will poker, aside from the discipline you described help you trade Apple intra-day? Explain that to me. So you are right... those skills help... but you don't need 1000's of hours playing poker to learn them. You can write them on a post-it note and stick it on your monitor. Stick to them and you might have a chance... but you WILL need 1000's of hours of watching everything market-wise before you'll be consistent making money as a trader. Like I said, welcome to the game. Keep us posted.
In poker, you can control who you play against. In trading, you can't. I kinda wished I could get into poker, but I would go for the straight suckers and I don't enjoy looking someone in the eyes and destroying them. Plus, I find poker boring. I did do well, however, in online poker about 15 years ago when it was fairly new.
If you have to be a good poker player to be good trader, then the majority on ET are louzy poker players.