Trading is exactly like being at the poker table in Vegas...

Discussion in 'Professional Trading' started by retaildaytrader, Sep 10, 2009.

  1. Vegas is a glitzy place just like Wall Street. Money is everywhere and there is the obvious site of wealth.

    In Vegas, there are those peddlers who carry signs talking about religion and the error of the gamblers ways. On Wall Street, you have those that talk about fundamentals and how the market is always seemingly overvalued. On this message board, we have that bylosellhi guy who carries signs around about fundamentals and horror stories telling us the error of our ways.

    You and I know that at the poker table its all about two things, luck and probability. To a certain extent its about probability and strategy, but to some extent its about luck. Sometimes its more about luck but other times its about strategy and probability. Most of the time, they just seem to go hand in hand.

    When and if you do fail at the tables, the peddlers come down like vultures upon you saying they were right. When and if the market corrects, bylosellhi guy comes down and tells us he told us so. The fundamental guys vulture down upon us to tell us how wrong we were.

    Now I know about religion just like I know about fundamentals. I dont need big signs to tell me about religion nor do I need long articles to teach me about fundamentals. I see whats going on around me. The simple fact, though, is Im in Vegas because I like to gamble and Im on here because I like to trade. I enjoy it, I have fun. I know its a game of chance and it might be my downfall, but Im a grown adult and dont need anyone telling me the error of my ways.

    Well, there are key differences between Vegas and the markets. The markets give you a lot of time to think and a way out on the way down. You never truly lose all of your capital unless you enter into something truly exotic. Fortunately, we have stop-loss orders and the better part of discretion. At the tables, its just win or lose and the winner rakes at the end while you are left with zip.

    To the peddlers, to the byhisello, I have a gift for you. Here is your gift for the thousands of informative articles you have placed here on the web. To all the guys that were telling me about the fundamentals and the wrongfulness of trading.

    Here is your gift:

  2. Wrong

    The variance in poker is much larger.

    Nice try :cool:

    I do agree that bylowsellhi needs to get a life though :p
  3. Lethn


    I'd actually say that the variance in trading is much larger, there are way too many conditions and probabilities for it to be set up either for or against you and the difference with trading is that you don't HAVE to bet with all you have. Not only that the people who are against you are the casino in gambling, whereas when it comes to trading the only people you are against usually are the traders. Unless of course your up against the federal reserve which automatically means you lose because they're desperately trying to maintain control over everything.

    I think my dad often makes the mistake of comparing gambling with trading as well, in trading you don't just put everything on red, there are lots of other ways apart from that to do it.
  4. Trading is gambling, everything you do is a is a gamble. If your not 100% sure the outcome will be what you think whether it be positive or negative then your gambling.

    Trading is a game as is life and I love to win. You can do all the research...backtesting or what ever you like but at the end of the day you still took a gamble on coming out on top because until you took the risk you did not know if you were going to be right or wrong. You might have thought it was right but you didnt know 100% for sure. therefor you took a gamble.
  5. Don't say something is EXACTLY like something else and then list a bunch of "key" differences :p

    I mean...seriously come on


  6. You've either A. Not played poker professionally or B. Not traded professionally.

    Poker players are thrilled to have a 2% EV a trader needs at least a 15% EV to make it.
  7. jr07


    You are completely wrong

    Trading is only somewhat similar to gambling if it's a fixed stack card game and you're counting them.
  8. Yeah, I could have worded the subject a little differently. Fortunately, I have a stop loss order on this thread placed at a strategic point.

  9. Haha :D

  10. too funny...
    #10     Sep 10, 2009