should good traders be good poker players?

spindr0 · Jan 14, 2011

Quote from Bowgett:

The main similarity is that I can play poker and trade out of my home wearing my boxers.
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Hey! You stole my line! :

konviction · Jan 14, 2011

Quote from Swan Noir:

The biggest difference -- and it is a huge difference -- between poker and trading is that for most of us, in the size we trade, our trades are are virtually always faded if we choose liquid markets.

If I sit down in a 10 seat ring game and only play extremely high quality hands the two or three best players at the table will trip to that very quickly, the next level of traders will only be a bit behind them and before too long it will become a topic of conversation -- and derision -- so that even the dunces will understand.

I am forced to mix it up or the only time I will get called is when I am facing very strong hands. As I mix it up I, to some degree, I am forced to move away from the choicest hands.

As a trader I can wait for the very best setups and have my plays faded in exactly the same manner -- again, in liquid markets -- as I would if I played randomly.

More than any other factor it is the ability to "bet" high quality situations and be faded time and time again that makes the risk reward of trading so much better than poker.

A few summers ago I checked into an inexpensive hotel -- The Irish Pub -- in Atlantic City and played poker Tuesday night through Sunday night (about 45 to 50 hours a week) for the summer. During the 10 weeks I was there I covered my modest expenses (about $700 weekly all in), spent two days each week back at home in NYC and sharpened my game considerably.

I played only no limit hold 'em at a variety of stakes with two/five being the most common and occasionally five/ten but no higher. I have great respect for those that can make it in poker but my considered judgment is that the ability to cherry pick and still get faded in size make trading a far superior speculation.
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The reason why I make a crapy poker player is probably because i sit down at the table with the mindset of a trader. I'm used to only risking X amt of my capital, and waiting patiently for good trades/ hands. My friends caught on rather fast when I folded 80% of the time and would bet big the other 20%.

I dont like the fact that poker has virtually no money management. If some fool goes all in, you also have to go all in, if you believe that your hand is good enough. That would never happen in trading, at least not from an experienced trader.

Soon2Bgreat · Jan 14, 2011

Quote from konviction:

The reason why I make a crapy poker player is probably because i sit down at the table with the mindset of a trader. I'm used to only risking X amt of my capital, and waiting patiently for good trades/ hands. My friends caught on rather fast when I folded 80% of the time and would bet big the other 20%.

I dont like the fact that poker has virtually no money management. If some fool goes all in, you also have to go all in, if you believe that your hand is good enough. That would never happen in trading, at least not from an experienced trader.
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You can play limit games which might make MM more systematic.

Rodney King · Jan 14, 2011

http://url.ie/8vbu

sumfuka · Jan 14, 2011

Quote from olias:

why is that stupid?
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They'll think I'm bluffing. But I'm a terrible poker player, so my words should be taken with basket of salt.

HATEtheRisk · Aug 27, 2011

one year ago i tried to for about 1 year to become a pro poker player with fulltiltpoker.
I was on a good way, but finally it was too hard for me.
I hadnt the discipline, to sit there all the day hour for hour and always keep your mind on 100% whats happening on the table, to dont miss any possible good hand.

I was with the winners with a few small money contests.
But thats it.

I gave up. Its to much stressed for me.

make a living of trading is so much easier for me than make a living of trading.

Poker is really boring, because it takes so long to build up your bankroll, doesnt matter whitch strategy, even with an AA + all In Strategy, sometimes there is an asshole with an Flus and your AA is worth shit.

PEACE

HATEtheRisk · Aug 27, 2011

Sorry, i pulled the trigger to quick, i cant keep my fingers quiet.
the same way i trade.
---------------------------------------------------------------

one year ago i tried to for about 1 year to become a pro poker player with fulltiltpoker.
I was on a good way, but finally it was too hard for me.
I hadnt the discipline, to sit there all the day hour for hour and always keep your mind on 100% whats happening on the table, to dont miss any possible good hand.

I was with the winners with a few small money contests.
But thats it.

I gave up. Its to much stressed for me.

make a living of trading is so much easier for me than make a living of poker.

Poker is really boring, because it takes so long to build up your bankroll, doesnt matter whitch strategy, even with an AA + all In Strategy, sometimes there is an asshole with an Flush and your AA is worth shit.

PEACE