Play poker to train trading

[BeGoods]

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.

I think there is no lesson that you can take in poker for trading besides knowing that both have a high risk too. what are the important lessons of poker that you can implement in trading? both are different you know, strategies, which determine of win, its different.

[Tytanowy Janusz]

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.

I think there is no lesson that you can take in poker for trading besides knowing that both have a high risk too. what are the important lessons of poker that you can implement in trading? both are different you know, strategies, which determine of win, its different.

If you would spend at least 5 min to read OP you will know what lesson you can take from poker and apply into trading. If you would read even only last sentence you would know that too.

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

[TheCoinGrabber]

Not necessarily have to be poker. There are even people who consider trading as gambling. The thing is even poker seem more predictable than trading - you can calculate chances. Much of trading is emotions and manipulation.

The lesson of taking small losses like folding holds true in trading though.

[Betwrong]

~
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.

If you mean Quad Aces, it can be beaten by any straight flush, not necessarily royal. But of course you can tell by seeing the cards on the table can anyone have that combination or not. That's why sometimes in poker you can be 100% sure about the outcome. But then again, how often do we have any Quads, let alone Quad Aces? In most cases it's enough to have a Three-of-a-Kind hand to win the pot, and we can go all-in with such a hand although the probability of winning in this case if far from being 100%.

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.

As you can see, we can rarely be "this sure" in poker either, and that's where good money management comes into play. The amount of money risked should correlate with the probability of positive outcome.

[Ellen Adarna]

I think playing poker will not help you to train trade because trading and gambling is different.

[michellee]

Not necessarily have to be poker. There are even people who consider trading as gambling. The thing is even poker seem more predictable than trading - you can calculate chances. Much of trading is emotions and manipulation.

The lesson of taking small losses like folding holds true in trading though.

People who consider trading as gambling is because they don't have information related to trend or the price moves, so they gamble and hope that they are lucky. If you can use the analysis with a right, then you are not gambling but you trade base on the sign in the market, and you can calculate the chances to get the profit. But for me, poker is not predictable because we need to learn how to play poker with right too and in the poker, there will be pressure from every player.

[Ellen Adarna]

I think playing poker will not help you to train trade because trading and gambling is different.

Poker and trading has a big difference because trading has a different way to earn money unlike playing poker.

Your are definitely right that trading has a different way to earn money unlike playing poker because playing poker is a gambling game that you always need to bet a money before you play and gambling is really a good way to earn easy money but it is risky because not everyday you will experience luck in gambling, while trading you are engaging a trade with good or a service and your money is much safer or not that risky. That is why you cannot train yourself to trade when you are playing poker or any gambling games.

[Caladonian]

Not necessarily have to be poker. There are even people who consider trading as gambling. The thing is even poker seem more predictable than trading - you can calculate chances. Much of trading is emotions and manipulation.

The lesson of taking small losses like folding holds true in trading though.

People who consider trading as gambling is because they don't have information related to trend or the price moves, so they gamble and hope that they are lucky. If you can use the analysis with a right, then you are not gambling but you trade base on the sign in the market, and you can calculate the chances to get the profit. But for me, poker is not predictable because we need to learn how to play poker with right too and in the poker, there will be pressure from every player.

Just my own cent, if you are playing poker and you have a good cards surely you can bet all in and hope for luck to accompany you, same deal with trading, whenever you've got a good patterned to follow and you seen that indicators are pointing you out to that directions, probably you will also
go all in, and that's for sure how things depends, knowledge upon from what you are doing gives you confidence to decide well.

With OP's last statement, you will lose when you think you'll gonna win, that's for sure apply also in trading, shit happens and trends
reversal kills your positions even you are seeing lots of indications and followed every information you've collected, there's always whales
that can manipulate needs to consider that.

[omonuyak]

I think playing poker will not help you to train trade because trading and gambling is different.

Trading and gambling has some similarities and by been able to do one we can do other.  A gambler has a risk mind and it is that mind that will enable you to succeed in trading.  Remember that many traders are afraid of losing money and it is an experience in gambling that will enable you to see trading as something worthwhile.

[redsun114]

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?

You need people with mental capabilities that can solve sophisticated problems. Poker experts are good with only poker and trust me they do not find it fun to perform in a company managing their stocks and I think a firm will prefer to stay on a safe side and would rather hire some one with a master’s degree in finance or economics to manage their accounts and stocks. So yeah, being skillful at poker does not make you a die hard trader.

[carlfebz2]

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?

You need people with mental capabilities that can solve sophisticated problems. Poker experts are good with only poker and trust me they do not find it fun to perform in a company managing their stocks and I think a firm will prefer to stay on a safe side and would rather hire some one with a master’s degree in finance or economics to manage their accounts and stocks. So yeah, being skillful at poker does not make you a die hard trader.

Agree and its totally different if we try to compare and contrast both things poker is different and trading is different too.They might have similarities
but im completely disagree with some points.
There are lots of sources online if you do tend to trading poker and trading.

[socks435]

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?

You need people with mental capabilities that can solve sophisticated problems. Poker experts are good with only poker and trust me they do not find it fun to perform in a company managing their stocks and I think a firm will prefer to stay on a safe side and would rather hire some one with a master’s degree in finance or economics to manage their accounts and stocks. So yeah, being skillful at poker does not make you a die hard trader.

Agree and its totally different if we try to compare and contrast both things poker is different and trading is different too.They might have similarities
but im completely disagree with some points.
There are lots of sources online if you do tend to trading poker and trading.

Why don't you compare both trading and poker has similarities they have both different in my opinion because if you play poker I'm sure you will lose all of your funds not  same happen if you in trading because I'm sure you will not lose all of your funds and if the dumps happen the coins still has a value and you can be still sold it with price unlike in poker that if you go all without luck you will lose all of your funds.
Many trader's out there is buying at the cheap rate and hold for a long time because only time can tell if they can make profit or not.

[creeps]

I think playing poker will not help you to train trade because trading and gambling is different.

Trading and gambling has some similarities and by been able to do one we can do other.  A gambler has a risk mind and it is that mind that will enable you to succeed in trading.  Remember that many traders are afraid of losing money and it is an experience in gambling that will enable you to see trading as something worthwhile.

Yes, gambling can give you the confidence on every decision that you will make especially in poker. It can help you in trading but i don’t see any big impact to you not unless you are so focus to learn everything. Reading books and listening online can still give you the best knowledge that you will need. Trading is a fight between you and your emotion, that’s the risk.

[TheCoinGrabber]

Not necessarily have to be poker. There are even people who consider trading as gambling. The thing is even poker seem more predictable than trading - you can calculate chances. Much of trading is emotions and manipulation.

The lesson of taking small losses like folding holds true in trading though.

People who consider trading as gambling is because they don't have information related to trend or the price moves, so they gamble and hope that they are lucky. If you can use the analysis with a right, then you are not gambling but you trade base on the sign in the market, and you can calculate the chances to get the profit. But for me, poker is not predictable because we need to learn how to play poker with right too and in the poker, there will be pressure from every player.

I'm thinking more about how prices can just plummet over certain news, like what we've seen happen with Bitcoins and China before. There are less factors to consider with cards games. Both have their own unpredictability.

[Tytanowy Janusz]

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?

Interesting experiment. I've heard about it when I was learning TA. It throws different light on all of those who are claiming that trading (in contrast to poker) is based only on strategy, technique and experience and there is no luck involved. Of course it is. Without luck, you can do best analysis and still be hit by a whale.
I was speaking with trader with 30 years experience a lot. Calm and always ready for a punch. That was his attitude. When i came excited and said that i've earned 30% in short term on stocks he only ask - Did you sold and withdraw? No.. You earn nothing than. Even the best analysis won't protect you against the black Swan.

[Betwrong]

~
I was speaking with trader with 30 years experience a lot. Calm and always ready for a punch. That was his attitude. When i came excited and said that i've earned 30% in short term on stocks he only ask - Did you sold and withdraw? No.. You earn nothing than. Even the best analysis won't protect you against the black Swan.

That's the best approach you can have imo. People here like to say that in gambling positive outcome is never guaranteed, but in fact it is never guaranteed in trading either even if you are the most experienced trader in the world. Success comes to those who realize that they can lose at any moment regardless of their knowledge of the situation, and thus they never risk big amounts, and if they lose they are not bankrupt because of that, they can continue their activity and if they are good at it there are good chances of being successful in the long run.

[Tytanowy Janusz]

That's the best approach you can have imo. People here like to say that in gambling positive outcome is never guaranteed, but in fact it is never guaranteed in trading either even if you are the most experienced trader in the world. Success comes to those who realize that they can lose at any moment regardless of their knowledge of the situation, and thus they never risk big amounts, and if they lose they are not bankrupt because of that, they can continue their activity and if they are good at it there are good chances of being successful in the long run.

Agreed. thats the point of the whole topic and thats the attitude you can learn much faster in Poker than in trading and its usefull in whole life. Be ready for a punch no matter how sure of winning you are.

[coinhunt]

I think you are right likening poker to trading and give good ground of it. Both poker and trading are very risky activities, not everyone agrees to take it. I have never played on real money nor traded because I can’t accept losses like something normal. I am a crypto enthusiast who believe that it will change our world, a gamer, and currently learning Javascript frameworks https://habr.com/en/post/440992/. Today developing apps is more profitable than risky.

[justdimin]

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.

I think there is no lesson that you can take in poker for trading besides knowing that both have a high risk too. what are the important lessons of poker that you can implement in trading? both are different you know, strategies, which determine of win, its different.

In my opinion, it means you have the same experiences as a trader in crypto has so you could easily switch from poker to crypto. There are ups and downs in cryptocurrency and a poker player is very well versed with the ups and downs as well. So, here in place of playing against a person like in poker, you would play against the cryptocurrency 2 billion dollar industry. This is I think a good interpretation.

Not just the case of poker, there is a debate for years like when we are gambling with strategies then why not go for trading as trading is known for full of strategies and analysis. In my experience, a trader may become a successful gambler but I am not sure about the vice versa thing.

[Tytanowy Janusz]

In my opinion, it means you have the same experiences as a trader in crypto has so you could easily switch from poker to crypto. There are ups and downs in cryptocurrency and a poker player is very well versed with the ups and downs as well. So, here in place of playing against a person like in poker, you would play against the cryptocurrency 2 billion dollar industry. This is I think a good interpretation.

Not just the case of poker, there is a debate for years like when we are gambling with strategies then why not go for trading as trading is known for full of strategies and analysis. In my experience, a trader may become a successful gambler but I am not sure about the vice versa thing.

It's not about every gamble game. Every game with house edge where you fight against casino i based only on luck. Every strategy will only decrease your probability of winning. There are only a few games that develops skills useful in trading. One of them is Poker.

Successful poker player with developed money management and discipline will be excellent trader. Successful trader might not be excellent poker player because money management and discipline is not developing that fast in trading (average poker player is better in those than traders). That's why i posted in OP that it is good to train those skills playing poker to learn them faster than during trading.