what cards you get is 1/100 of a fraction of what it takes to play high stakes poker. I'd say playing your opponents is much more important as is the position you are in, much more important than what cards you do or dont get. And yes they are both very similar in that you are placing a wager on an unknown outcome...peace
Wrong! You are committed to the blinds. That is part of the cost structure. Blinds offer POSITION in the betting structure. If poker worked that the way you see it, there would never be a means for someone to win if the blinds didn't come as a cost. Everyone would just fold on dead hands and there would be no incentive. If you don't understand this, you don't understand poker and have NEVER played high stakes! Try $1000+ blinds someday pal.
Once again you aren't actively playing every hand. Are you in a blind positions sometimes YES and you do have to play those hands. However once again, YOU DO NOT HAVE TO PLAY EVERY HAND
might help with option trading where probability and "pot odds" are used. i doubt it would help with any other type of trading ...ie mindless scalping
I think it would be helpful for beginning traders to first learn to profitably play Limit Texas Holdem. Bluffing becomes too much of a factor in No Limit Holdem, but for Limit Holdem, it is very good experience for trading, IMO.
I do both things quite a bit and would have to disagree with the comment that you have to play every hand. My most often used playing style is what is commonly referred to as a 'rock', meaning you don't play very many hands, however the ones you do play have a positive expectation of profit. I will generally only play hands that I have a positive expectation of winning. Many other players (Gus Hansen, etc) have an unpredictable style where they play a much higher percentage of hands with the understanding that their playing will allow them to take small profits off each hand over the long run. You can easily see how one plays poker correlates directly to how one trades. You can have an overactive trading style (i.e. scalping) and make money in small increments or you can have a longer view (i.e. swing trading or investing) and make big amounts of money relatively infrequently. One of the underlying factors that directly affects your performance in both poker and trading is that you find a style which suits your personality and ability to handle risk. Please don't go from being a swing trader to playing insane hands in poker because you just watched Rounders or saw the WSOP on TV. I would like to mention that I am consistently profitable in both live poker playing and in trading (I don't believe in playing poker online). -H
Sure, there are some similarities. Patience, learning to control your emotions, understanding probability, money management, a few other things. I find trading makes your a better poker player as opposed to poker making you a better trader. My stack from the Borgata. Its not much, they're only $5 chips. But it was a good night. <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2021037>
How often do you play at the Borgata? My home table is Foxwoods in CT. AC has some good player's bonuses, but nothing beats Vegas for crazy deals. ~$800 isn't bad. What were you playing? 1/2?
I try to get down there once a month or so. I'm only an hour and a half away. They have a killer poker room and some great tourney's. yep, just 1/2 <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2021050>
As a former poker pro (my main source of income for about 3 years), I would say there are many similarities. Patience is the big one. I don't play much at all anymore because I don't need to stress out my mind anymore after hours. But last weekend some friends dragged me to the casino and I played for about 3 hours and I played only 1 hand out of the blinds and won ONLY 2 hands total for the night. Yet, I came out on top with a very good BB/hour rate. Any newb in my situation would have lost thousands playing marginal hands instead of folding hand after hand after hand. You must practice the same thing in trading. I'm not an action junkie. I just play the odds no matter how boring. I'm glad the days of 24 hour sessions at the casino and 8-12 online multitable madness are over