Poker vs Trading

Discussion in 'Trading' started by DuyLe, Oct 18, 2007.

  1. DuyLe


    Any poker playing traders out there? A newbie trader seeks advice. Poker is a lot like trading. There are a lot of similar disciplines involved to suceed in either one. For instance, in poker you need a money management system, invest in positions where you have positive expected value, and the ability to adapt to varying conditions (e.g. table dynamics which is like market conditions). Anyway, I am top online no-limit cash game player who is learning about trading. I have been playing high stakes for over 4 years across many of the big poker sites online. I am looking for an experienced sucessful trader who is interested in providing mentoring services. I can provide compensation in terms of poker knowledge and advice, etc. If anyone interested, drop a line or a message.

  2. You might find this of interest.


    Gaming Theory

    Trading And Poker Parallels

    Risk? Yes. Reward? Of course. But the similarities go deeper.

    by Don Bright with Darren Clifford

    Chris Ferguson (Jesus), and several other WSOP bracelet holders trade with us at this time.

  3. DuyLe



    One of the biggest options firms around has a poker tourney each year and the winner is offered a position with the firm. Back Gammon also has a lot of cross over with options trading.
  5. Trading you have about 50% chance of winning.
    You have much less in poker.

    With stocks you can wait for years or even decades to recover (and it usually does, given enough time).
    With poker when you lost its game over and they show you the door.

    With trading you dont have to hide your "bets" from the other traders. Unless you are a fund managing billions.
  6. Holding a position for years and hoping it recovers is not trading.
  7. It is buy and hold, but you cant do this with poker anyway.
  8. Much of the statistical work in poker is applicable to options

  9. Again though, he's right, that's not trading, that's called investing.

    I play poker almost every weekend at atlantic city and also play on full tilt.
    There are plenty of similarities to trading as far as the mentality goes; money management, when to take higher risks, when to cash in etc but the two can be very different at times. I don't know what kind of poker player you are, but depending on the kind of trader you are, the stakes can make poker seem like a joke.
    You can think of it in a few different ways. Trading is kind of like playing no limit with the option of going from table to table and seeing what's going on at each table, watching how everyone bets, where the big players are, where the tourists are, etc. By looking at different charts/news and ticks/tape, you can get an idea of how a stock is trading.

    With trading however, although there is a lot more data involved if you're trying to figure out why whatever is going on IS going on. but not every trader uses information like that.
  10. ElCubano


    this is not true...everyone always assumes you are playing with ur entire bankroll which is just not the case.....there is a formula to figure out what ur bankroll should be for the way you play and the size table u play in....
    #10     Oct 18, 2007