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Author Topic: Play poker to train trading  (Read 1520 times)
Tytanowy Janusz
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March 19, 2019, 11:35:39 AM
Last edit: March 20, 2019, 05:46:50 PM by Tytanowy Janusz
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 #1

In my opinion trading and poker are very similar. Interface is the only difference. Rules are the same.
I know that part of you will disagree with me with my very first sentence by saying that poker is game of luck and trading is based on indicators, supports, TA, FA and many more. Well you know nothing about trading and poker then Smiley

Why poker is not game based only on luck if cards you get are totally random:

Yea. Cards you get are totally random. But how to explain that we have so many professional poker players that play poker for a living? Well the only thing that they differ form those who are loosing is money management and discipline during bidding.. Bidding is the first and only moment that determines if you will lose or earn in poker. That's the hardest part that needs experience. Why?
With infinity plays you will have every possible card set. Good once, bed once. Sometimes you will lose sometimes you will earn. Key is not to lose less times. That impossible. Key is to lose less money with bed cards than you win with good cards. That's where money management and discipline comes. In poker that's especially hard because you have to say good bye to your money even with quite good card without battle if bidding is going too far and calculated probability of winning is showing you red light to bet higher. But that's the hand that makes bed player go home with 0 and good players stay and fight again.

How about trading?

In trading, you also don't know your opponents "cards". You don't know who is on market (whale are buying or bunch of fomo noobs). If whale than how much money he has left, when will he dump. TA may show various of buy signals but on the other hand that's the best moment for whale to dump (best price and best volume when everyone is sure that price can go only in one direction - f.e after breaking resistance). Will he dump or not? Is support holding for so long because someone is buying at that point or maybe whale stops to sell to don't break it to don't cause panic selling?
How about Fundamental Analysis? That's where we may be even more cheated by insider trading. When news hit market price is very often pumped by whales who new before. NEWS from which you do FA may also be faked by coin team. Even team might be faked.
It means that trading is game of luck? No. That's where money management and discipline comes. Same as with poker. Key is not to lose less times. Key is to lose less money with every bad trade. To cut looses and say good bye to your money even with "quite good card". To learn to enter only those trades with high probability of winning (TA buy signals) combined with low risk (close to support where you could set stop loss). TA indicators are easy to learn in 1-5 days. Good trader is able to earn on market for a living after few years of experience because discipline and money managements takes so much time to master in trading. That's where poker comes in. You can train those skill playing poker where every bet takes minutes not hours/days. You can master those skills faster and even for free playing for unreal money.

Professional trader and poker player will say the same thing: -You lose the most when you are sure that you will win




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March 19, 2019, 12:32:06 PM
 #2

money management and discipline during bidding

I think it's not just in poker, but it's also in other gambling games. We need to have money management and discipline, so we know the time to get out of the games and saves the rest of the money.

And related to trading, I think it also works in trading because you need those things to know the best time to buy and sell and you don't miss any chance to choose the right coin in the market.

Professional trader and poker player will say the same thing: -You loose the most when you are sure that you will win

I agree with this because if we do not realize how much we can make from trading and poker and we still want to make a bigger profit, then gets ready to get a loss because of we can miss the right time to get those profit.

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March 19, 2019, 12:40:32 PM
 #3

It is a good idea to play poker to improve your skills.I think that trading is a lot like gambling and the only difference is trading has better publicity compared to gambling.

While gambling is considered bad by most of the community trading is considered neutral.However you should be careful as both in gambling or trading you risk to become addicted.

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Tytanowy Janusz
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March 19, 2019, 12:46:43 PM
Last edit: March 19, 2019, 12:57:10 PM by Tytanowy Janusz
 #4


I think it's not just in poker, but it's also in other gambling games. We need to have money management and discipline, so we know the time to get out of the games and saves the rest of the money.
Only in those games where you have hand than you can count (or estimate) probability of winning and bet on that. Only poker and maybe some sort of dice games comes to my mind now. Throw examples what you are thinking of.

Professional trader and poker player will say the same thing: -You loose the most when you are sure that you will win

I agree with this because if we do not realize how much we can make from trading and poker and we still want to make a bigger profit, then gets ready to get a loss because of we can miss the right time to get those profit.

I mean that when you are sure you will win you will bet more and more (in poker when you have Full House not knowing that oponent have Four of a kind)  or buying more and more coins even if price is going down unless margincall (in trading).

You will not lose all your money in poker having 5 times nothing in a row. You will lose all your money having Full House.
You will not lose all your money in trading hitting 3% stoploss 5 times in a row. You will lose them all by 1 trade without discipline and money management betting more and more on trade that is not going how it should and you will do this only when you are sure that "big news is comming" or "i'm sure its fake dump" or others.




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March 19, 2019, 12:52:35 PM
 #5

I agree with what you said, trading and poker involves great risk, you don't know when to call, when you want to fold and when to place a bid, you never knew each card has between your opponents or what's next to be flashed. Just like on trading they really has difference with each other, I know you can because of indicators but with volatility of crypto market you still don't know when will it dump.

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March 19, 2019, 01:11:44 PM
 #6

trading is a lot like gambling and the only difference is trading has better publicity compared to gambling.

I think Gambling has a more publicity because it is more easier than trading and all people in all ages do already know what it is .  all people have already played gambling while not trading because trading is difficult and requires more capital  and knowledge  .


While gambling is considered bad by most of the community trading is considered neutral.

Who says gambling is bad ?  They are wrong . they only think its bad because they cant win on it .gambling also gains a bad reputation because others are doing illegal form of gambling  .

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March 19, 2019, 01:39:33 PM
 #7

While gambling is considered bad by most of the community trading is considered neutral.

Who says gambling is bad ?  They are wrong . they only think its bad because they cant win on it .gambling also gains a bad reputation because others are doing illegal form of gambling  .
Nothing's bad in gambling if you know how to deal with it, controlling your self and emotion is the best option that you can avoid that.
I think OP was right they have similarity the poker and the trading and probably also all feature gambling too, but I guess the more worst risk is gambling though it is not too much need TA when you are playing, unlike trading you need to have dip research.

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March 19, 2019, 01:40:35 PM
 #8

I totally agree.  One huge thing that poker has taught me that translated well in trading is good bankroll management and it's ok to fold and take small losses here and there.

They're both skill games.

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March 19, 2019, 01:48:15 PM
 #9

I think OP was right they have similarity the poker and the trading and probably also all feature gambling too, but I guess the more worst risk is gambling though it is not too much need TA when you are playing, unlike trading you need to have dip research.

They are both same risky if you apply money management well. It might be even harder to estimate probability of winning in poker correctly rather than learning TA indicators which can learned if few days. To play poker as it should be to win you have to do dip research.




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March 19, 2019, 02:15:27 PM
 #10

Poker uses a combination of luck and skill. It is not entirely based on luck for sure otherwise professional players wouldn't have made a living out of it. At the same time, it is not entirely based on skill otherwise newbies wouldn't have joined this game.

Trading is also similar because the outcome is also uncertain here. It requires similar combination but probably in different ratio. So I would agree with OP here!

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March 19, 2019, 02:22:56 PM
 #11

I agree with OP. They are similar to how you can beat them, the market for trading and your opponents in poker. To beat them you need to have discipline and always keep in mind your batting averages. It must be, large winnings: small losses.
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March 19, 2019, 02:35:59 PM
 #12

I agree with everyone that trading and poker are very similar but that doesnt mean a professional poker player can have the same great performances if he starts trading and the same thing we can say about a professional trader,wich could be a horrible poker player. Of course poker players and traders might share the same experiences and skills but we have to remember this are two tottaly different domains of activity .

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March 19, 2019, 02:50:17 PM
 #13

I don't find trading same as poker. From my understanding gambling and trading were almost the same. In both form of earning we try our best to spend and get back good return. Here, our predictions need to get coincide with the reality. The coincidence can happen through luck or through the skills and strategies developed in correspondence to the trade as well with the event.

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March 19, 2019, 03:01:52 PM
 #14

The biggest thing for me between poker and trading is pure human emotion.  If you can't stay calm under pressure and control your emotions you will be setting your up for failure.  I believe this can be learned to an extent but a lot falls in your natural personality.

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March 19, 2019, 03:25:20 PM
Last edit: March 19, 2019, 04:01:50 PM by Tytanowy Janusz
 #15

Poker uses a combination of luck and skill. It is not entirely based on luck for sure otherwise professional players wouldn't have made a living out of it. At the same time, it is not entirely based on skill otherwise newbies wouldn't have joined this game.

Trading is also similar because the outcome is also uncertain here. It requires similar combination but probably in different ratio. So I would agree with OP here!
I don't find trading same as poker. From my understanding gambling and trading were almost the same. In both form of earning we try our best to spend and get back good return. Here, our predictions need to get coincide with the reality. The coincidence can happen through luck or through the skills and strategies developed in correspondence to the trade as well with the event.

You are all talking about luck. I'm not talking about single play where luck is main factor. I'm talking about strategy that leads to win after thousands of plays. With thousands of plays luck doesn't matter. You will probably have all possible hands from single pair to Royal Flush (propability of royal flush is close to 1: 650 000, so perhaps without that). Key is to earn from good once as much as possible and lose from bad once as little as possible. And that's money management and discipline that can be trained and used in trading and not only. This skill is usefull in whole life. From relationship to career.




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March 19, 2019, 06:41:45 PM
 #16

I don't find trading same as poker. From my understanding gambling and trading were almost the same. In both form of earning we try our best to spend and get back good return. Here, our predictions need to get coincide with the reality. The coincidence can happen through luck or through the skills and strategies developed in correspondence to the trade as well with the event.
I also did not think poker and trading are the same because I have been trading for long and I have been following the poker events and following how people are luck to win.  Trading is base on the analysis and poker is purely on luck.
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March 19, 2019, 07:27:51 PM
 #17

trading is a lot like gambling and the only difference is trading has better publicity compared to gambling.

I think Gambling has a more publicity because it is more easier than trading and all people in all ages do already know what it is .  all people have already played gambling while not trading because trading is difficult and requires more capital  and knowledge  .

While gambling is considered bad by most of the community trading is considered neutral.

Who says gambling is bad ?  They are wrong . they only think its bad because they cant win on it .gambling also gains a bad reputation because others are doing illegal form of gambling  .

I disagree a little if trading is more difficult than gambling, which means you draw conclusions unilaterally and as far as the knowledge you have, return to knowledge because it determines the breadth of insight and will support all skills from anything, if you want to study management then You will understand in several stages to become a trader and what to do, it's true that gambling is very easy.

And again in my initial discussion, it was still in the same discussion too, just changing the word.
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March 19, 2019, 07:31:51 PM
 #18

It is a good idea to play poker to improve your skills.I think that trading is a lot like gambling and the only difference is trading has better publicity compared to gambling.

While gambling is considered bad by most of the community trading is considered neutral.However you should be careful as both in gambling or trading you risk to become addicted.
Gambling is considered bad due to possible addiction that it can give out but on general sense it isnt really bad at all since its just an entertainment.It is only how people do treat with it thats why
we do see mostly negative effects on the community.

Comparing Poker to trading,i dont really see any correlation between these two other than on the risk involved but talking on the chance on how to be profitable then they would really vary actually.

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March 19, 2019, 11:11:57 PM
 #19

I cant fully agree with the comparison between poker and trading. Although the main idea is bankroll management but the process is completely different. Poker is a gambling game, there is an instant result unlike trading where the result is based on ourselves. Traders may not lose their money on every decision they make (on buying coins) till they decide to sell what they bought. On other hand, once you make a decision on poker or any other games you should be ready to lose as you can delay the result.




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March 19, 2019, 11:40:08 PM
 #20

I totally agree on OP about the bankroll management of both trading and poker but not every gambling game is the same as trading.
There are games that don't give you a good result in the long run and might burn your money and put you on debt.
And the chances of getting addicted to gambling is very high, that's why it is not advisable to play it in the long run if you can't control yourself first.



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