Play poker to train trading

[Indrawan77]

I dont think there are very similar, its maybe true to be able to win in either gambling or trading you need to calculate the possibility, but in gambling there are no indicators that could increase your winning chance, in trading we got a lot of support factors and chart, psychology and news also could become the extra point to increase the winning chance

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[Betwrong]

I dont think there are very similar, its maybe true to be able to win in either gambling or trading you need to calculate the possibility, but in gambling there are no indicators that could increase your winning chance, in trading we got a lot of support factors and chart, psychology and news also could become the extra point to increase the winning chance

It's not about gambling in general but about poker in particular. Poker game indeed has many similarities with crypto trading according to those who are familiar with both(read the posts above). Maybe you don't play poker much, but trust me, this is not just a luck based game, and to play it good you have to do more than calculating probabilities. Btw, I don't think that looking at charts can help you much in trading because all the other traders are looking at the same charts too. ... One of the main points of this thread, put it in a nutshell, is that you shouldn't always go all-in even if your chances of winning are very good, neither in poker nor in trading.

[bitzizzix]

Playing poker and trading only have similarities but different ways of working, gambling has a very high risk compared to trading and gambling by betting and then playing and trading just choosing coins that are good for trading and waiting.
trading will still have profitable opportunities and very little losses all depend on expertise in analysis, compared to poker gambling or other gambling if it is not controlled it will lose everything in an instant.
definitely has advantages and disadvantages and different ways.

[Tytanowy Janusz]

gambling has a very high risk compared to trading

It all depends on money you put in. If you put 100 000 $ into coin which was dumped 30% during night you lost 30 000$ in 8h. It will take weeks to lose that much playing poker on table with 100$ max bet. Poker with money management may be less risky than trading without it.

[guoyu78]

We can learn a lot from poker because this is a mind game just like trading so if you do poker its easy now for you to learn trading. But if you want to become a trader, you must not used your gambling experience, it is still good to learn without spending more because in poker you can lose big money so its not good for you to start like this.

They are very similar but that’s the only difference since poker is a more risky game. Its true that we should not treat poker as trading because you don’t see an price movement their you are just basing on the cards that you have. Trading should be treated professionally for you to win big. 

When it comes to playing Poker, things boils down to probability and you do not have clear signs and signals to make your moves like you do have in trading. So, poker is quite different from trading and trading after playing poker will be much easy and might give you some desirable outcomes as well since you step down to a relatively easier game from a difficult one.

Trading can make you money when market is green and you just do not choose to trade when market is down.

[beerlover]

I dont think there are very similar, its maybe true to be able to win in either gambling or trading you need to calculate the possibility, but in gambling there are no indicators that could increase your winning chance, in trading we got a lot of support factors and chart, psychology and news also could become the extra point to increase the winning chance

This is indeed the fact that both of them have no relationship, nevertheless, poker can also be a strategy game and I want to believe that strategy is what they both have in common, poker is not like every other gambling game that is a game of luck.

Even if we can still see  LUCK too plays out in poker but if you have a good strategy, you can be sure of winning which trading too has its own strategy and when traded well, the chances of making it in trading is quite high, when you don’t apply strategy to trading, that is when it becomes like gambling.

[davis196]

Well,it's a myth that poker players are good traders.Some company hired poker players to manage their stock trading and they have lost almost evetything.I forgot the name of the company,I'll try to find it.
For me,poker a game that is mostly about luck,trading requires more knowledge about the markets,proper analysis and applying diversification to your financial assets.

[Ucy]

I haven't played poker before but I think it is much harder than cryptocurrency trading from what I have read and experienced. It is possible to make more profit than loses from day trading, even as non professional trader. Is this possible with poker?

[Malsetid]

We can learn a lot from poker because this is a mind game just like trading so if you do poker its easy now for you to learn trading. But if you want to become a trader, you must not used your gambling experience, it is still good to learn without spending more because in poker you can lose big money so its not good for you to start like this.

They are very similar but that’s the only difference since poker is a more risky game. Its true that we should not treat poker as trading because you don’t see an price movement their you are just basing on the cards that you have. Trading should be treated professionally for you to win big. 

When it comes to playing Poker, things boils down to probability and you do not have clear signs and signals to make your moves like you do have in trading. So, poker is quite different from trading and trading after playing poker will be much easy and might give you some desirable outcomes as well since you step down to a relatively easier game from a difficult one.

Trading can make you money when market is green and you just do not choose to trade when market is down.

What i think makes these two similar is the traits that a poker player and a trader should have when they trade or play. Both needs analytical skills and an extreme amount of patience as well as good control over one's emotions. Yeah they're different as they are but a poker player with good instincts can have a good grasp on how to play in the market.

[Tytanowy Janusz]

Well,it's a myth that poker players are good traders.Some company hired poker players to manage their stock trading and they have lost almost evetything.I forgot the name of the company,I'll try to find it.
For me,poker a game that is mostly about luck,trading requires more knowledge about the markets,proper analysis and applying diversification to your financial assets.

I think that one example is not enough to definitively disprove the hypothesis. Why did they lose almost everything if skills get from poker are definitely useful in trading. Maybe there was something we didn't know about? When was that? in 2000/2008 during bubbles where almost every trader zero wallet?

[crzy]

gambling has a very high risk compared to trading

It all depends on money you put in. If you put 100 000 $ into coin which was dumped 30% during night you lost 30 000$ in 8h. It will take weeks to lose that much playing poker on table with 100$ max bet. Poker with money management may be less risky than trading without it.

Both are risky and we can learn a lot from these two. In poker its a good way to prepare for your trading experience because of the decisions that you will make. Trading is too bad for the shitcoins better to look for other coin who moves in the right way because of the right reason.

[xWolfx]

I dont think there are very similar, its maybe true to be able to win in either gambling or trading you need to calculate the possibility, but in gambling there are no indicators that could increase your winning chance, in trading we got a lot of support factors and chart, psychology and news also could become the extra point to increase the winning chance

Psychology plays a huge role in Poker too, not only in trading/investing. In fact, i would go as far as to say that it plays a really important role in life as a whole.

Things like news rarely help with small things but they could, for example could anything that happens affects the mindset of any Poker opponent? Could be rain, could be snow, could be another thing?

I truly respects poker because it takes strategy and other things to win. And skill plays a huge role in it. I never considered it to be like trading but it certainly is in some aspects and traits needed to perform them.

[goaldigger]

Nice comparison though. Playing poker doesnt literally train you to be a good trader with having good investment on coins but rather it trains you to have a strong mindset and have a greater analysis which is a requirement to become a wise trader.

[Ucy]

gambling has a very high risk compared to trading

It all depends on money you put in. If you put 100 000 $ into coin which was dumped 30% during night you lost 30 000$ in 8h. It will take weeks to lose that much playing poker on table with 100$ max bet. Poker with money management may be less risky than trading without it.

The part about "poker dumping" not being like typical cryptocurrency sounds interesting.
If ever I become a gambler, poker will probably be my first try. I have heard alot of good things about it. I does seem like a safe gambling.

[Betwrong]

~
The part about "poker dumping" not being like typical cryptocurrency sounds interesting.
If ever I become a gambler, poker will probably be my first try. I have heard alot of good things about it. I does seem like a safe gambling.

No gambling is safe per se, but indeed with good money management you can increase your chances of winning in poker. If you've been successful in trading so far it means you know how to manage your funds and thus there are good chances of you being good in poker. Only just don't start with tournaments with high buy-ins or cash games with high stakes, go little by little at first. There are tournaments in which you can potentially win hundreds of USD paying just $2 for the ticket. Start with those ones first.

It's funny that the intention of this thread was to say that you can learn trading by playing poker, and for you it's going to be vice versa.

[Heisenberg_Hunter]

I do agree with both OP and cryptovigi's post. The poker can be more commonly considered as a game of skill and not just a game of luck. Gambling is entirely different from investing or trading stocks or cryptocurrency on the whole. For in order to get a profit in trading one must be aware of the market conditions, the condition of the stocks, the development in the coin etc. But gambling is purely based on luck and it does always wins in favour of the casino. Careful trading will make you earn serious profits but careful gambling in most of the times results in losses. Similarly, a poker game cannot be categorized as a gambling game. They are based on the skill of the player and his professional tactics he has earned over the period of time by playing the game.

Not all poker players are gamblers, they are not risking their money based on the luck. They do believe in their skill and the weakness of the opposite weak minded player. Another note worthy thing is that, serious poker players can make a living like a trader but a professional gambling addict always loses his hard earned money to the rich casino. Some gamblers lose the money on poker based games, but they need to be blamed for that. Winning in a poker is based on his analysis of the opponent, and the ideas he has gained from his previous poker winning experiences.

[cryptovigi]

...
For in order to get a profit in trading one must be aware of the market conditions, the condition of the stocks, the development in the coin etc. But gambling is purely based on luck and it does always wins in favour of the casino.
...

When I read that it was necessary to be a professional to make profits in the market (what I agree with), I remembered an experiment carried out once before by Professor Prinston who compared the results on the stock exchange achieved by experts and monkeys throwing drafts. I do not know if you've heard this story?

"Give a monkey enough darts and they’ll beat the market. So says a draft article by Research Affiliates highlighting the simulated results of 100 monkeys throwing darts at the stock pages in a newspaper. The average monkey outperformed the index by an average of 1.7 percent per year since 1964. That’s a lot of bananas!

What is all this monkey business? It started in 1973 when Princeton University professor Burton Malkiel claimed in his bestselling book, A Random Walk Down Wall Street, that “A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts.”

“Malkiel was wrong,” stated Rob Arnott, CEO of Research Affiliates, while speaking at the IMN Global Indexing and ETFs conference earlier this month. “The monkeys have done a much better job than both the experts and the stock market.”

In their yet-to-be-published article, the company randomly selected 100 portfolios containing 30 stocks from a 1,000 stock universe. They repeated this processes every year, from 1964 to 2010, and tracked the results. The process replicated 100 monkeys throwing darts at the stock pages each year. Amazingly, on average, 98 of the 100 monkey portfolios beat the 1,000 stock capitalization weighted stock universe each year."

source and whole article you can find here: https://www.forbes.com/sites/rickferri/2012/12/20/any-monkey-can-beat-the-market/

I wonder what the results would look like when a similar experiment like the stock market and monkeys would be done with the cryptocurrency market. Maybe it would turn out that trading in cryptocurrencies is more like not even for poker, but simple gambling than we think?

[pixie85]

I dont think there are very similar, its maybe true to be able to win in either gambling or trading you need to calculate the possibility, but in gambling there are no indicators that could increase your winning chance, in trading we got a lot of support factors and chart, psychology and news also could become the extra point to increase the winning chance

It's not about gambling in general but about poker in particular. Poker game indeed has many similarities with crypto trading according to those who are familiar with both(read the posts above). Maybe you don't play poker much, but trust me, this is not just a luck based game, and to play it good you have to do more than calculating probabilities. Btw, I don't think that looking at charts can help you much in trading because all the other traders are looking at the same charts too. ... One of the main points of this thread, put it in a nutshell, is that you shouldn't always go all-in even if your chances of winning are very good, neither in poker nor in trading.

If only calculating probabilities could make you a good trader that would make sense. In poker you can sometimes see a clear outcome. Like when you have aces the probability of somebody hitting royal to beat you is close to 0 although such things often happen in the movies.

In trading you can never be this sure. There's too many things to consider and even very experienced traders can't seem to predict where cryptocurrencies will go.

[shield132]

Still I don't agree with the statement.
Give me good cards everytime and let's escape with your poker skills, there is no chance. Also when you say you can beat someone in poker, it hugely depends on where you play, online or in real life, on regular table or on very fast one. In real life yeah, you have chanses avoid dependant on luck because you can understand others' emotions but online that's impossible because everyone can sit and go anytime and you don't have time to know their psychology + you can't understand their physical emotion expressions.
Trading isn't skill based too, luck is very important here too, you can't monitor price for 24 hour + using bots can sometimes ruin your profit or lose your chance of far better profit. You also don't know what statements there will be which may affect price, you don't know which exchange will be hacked tomorrow, you don't know which exchange will maybe stop withdrawals, you don'y know if coinmarketcap remove any exchanger from their list, yeah, it still hugely depends on luck.

[rodel caling]

The poker and trading also same have risk especially today the movement of price value in the coin market cap is very volatile while buying altcoin for trading. Playing poker the risk is if the player not setting up greed control possible to lose huge mone.