Play poker to train trading

[btc78]

For me it’s not only poker is what similar to trading but the whole gambling itself,you have mentioned about Luck in poker?but all gambling games needs this as well,and sometimes even sports betting also needs luck as players maybe good but they don’t hold the winning until it was decided

While in trading,even how great the TA and research you’ve made,yet Luck is still in need  coz we know that there are some big players here who made moves every coin they wanna pump and dunk so if you’re lucky to pick one then sure profit will be yours

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[Nellayar]

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.

Definitely yes! Many people already treat trading as gambling. Some of us knows the environment of trading. And it really looks like a 50/50 percent chance of winning rate. Though, trading is more difficult than gambling, there is also a possibility to have profits in trading. Gambling only needs luck and skills in betting. Trading needs time and discipline.

[playboy654]

For me it’s not only poker is what similar to trading but the whole gambling itself,you have mentioned about Luck in poker?but all gambling games needs this as well,and sometimes even sports betting also needs luck as players maybe good but they don’t hold the winning until it was decided

While in trading,even how great the TA and research you’ve made,yet Luck is still in need  coz we know that there are some big players here who made moves every coin they wanna pump and dunk so if you’re lucky to pick one then sure profit will be yours

Not completely because in trading the result can be guess but on gambling its completely unpredictable until the result known.On games like sport betting the results can be manipulated so we cannot always rely on the luck if we are small hand but on poker our skills plays the big role than how big our money is.

[iv4n]

I`m saying for years here, gambling and trading are pretty much the same thing. You risk, you win or lose, you do all over again. It can be fun, it can be entertaining, it can be a lot`s of things, but in the end all that`s count is profit you make or money you lose.
What ever gambling game you play, what ever trading strategy you use, with time and with learning from mistakes you will sharp your skills and start to make profit in one moment, or you will lose all of your money. Just the strongest survive.

[jhonjhon]

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.

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.

Because both needs more skills, it can really improves how strategy you will use not to lose. But trading is better even if your a newbie you can trade even if your not experience gambling. It is not so necessary to play poker if you want to learn trading.

Skills wise yes but if you want to learn trading then you must focus on learning trading directly, where you don’t need to spend time on playing poker which can lose your money. We make big decision on both field but your decision in trading is critical because its a long term decision and not just a day of decision.

I totally agree, trading and poker may have things in common but they are two different things, it is better to learn trading directly and don't fear to lose because losing can also mean an opportunity for you to make better strategies. Decision making in trading is very critical in the sense that it can make or break your investments.

[Betwrong]

~Because both needs more skills, it can really improves how strategy you will use not to lose. But trading is better even if your a newbie you can trade even if your not experience gambling. It is not so necessary to play poker if you want to learn trading.

No one is saying it is necessary, but it is definitely helpful. Some people in this thread saying you can't compare the two because poker game is much faster, but I disagree with that. Some poker tournaments can last 3-4 hours and more, and such tournaments really are a good platform for improvement your money management skills. Firstly, in some cases, you can earn up to 10% in just 3 hours while trading. Secondly, you can extrapolate your behavior during a 3 hours' poker tournament to a 3 days' trading period, risking the same percentage of your balance at the respective stages.

[Cherylstar86]

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.

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.

Because both needs more skills, it can really improves how strategy you will use not to lose. But trading is better even if your a newbie you can trade even if your not experience gambling. It is not so necessary to play poker if you want to learn trading.

Skills wise yes but if you want to learn trading then you must focus on learning trading directly, where you don’t need to spend time on playing poker which can lose your money. We make big decision on both field but your decision in trading is critical because its a long term decision and not just a day of decision.

I totally agree, trading and poker may have things in common but they are two different things, it is better to learn trading directly and don't fear to lose because losing can also mean an opportunity for you to make better strategies. Decision making in trading is very critical in the sense that it can make or break your investments.

 I prefer to trade at immediate time because it will challenge ourself to create strategy to defeat loses. Perhaps, having experience will evade us from loses that may create good and viable strategy and it also an opportunity to become a great trader in the future. And being a professional trader had experienced failure from time and strive harder to claim the tittle.

[Dontme]

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

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

Yes you cant predict what will be the card you will get that it needs luck sometimes to win the game but I think the strategy will always be a must to win the game why? Because it's like this' even how beautiful the opportunity to your life is when you don't move and grab it you can't have it. Same as gambling if you have a good cad then it was your time to give the best when you have bad card then still try, use your strategy.

[skivrmt]

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.

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.

Because both needs more skills, it can really improves how strategy you will use not to lose. But trading is better even if your a newbie you can trade even if your not experience gambling. It is not so necessary to play poker if you want to learn trading.

Skills wise yes but if you want to learn trading then you must focus on learning trading directly, where you don’t need to spend time on playing poker which can lose your money. We make big decision on both field but your decision in trading is critical because its a long term decision and not just a day of decision.

I totally agree, trading and poker may have things in common but they are two different things, it is better to learn trading directly and don't fear to lose because losing can also mean an opportunity for you to make better strategies. Decision making in trading is very critical in the sense that it can make or break your investments.

 I prefer to trade at immediate time because it will challenge ourself to create strategy to defeat loses. Perhaps, having experience will evade us from loses that may create good and viable strategy and it also an opportunity to become a great trader in the future. And being a professional trader had experienced failure from time and strive harder to claim the tittle.

I think that being a professional trader or player is not only about skills and experience. It's also about ability to deal with a big losses without losing self-control and draw the right conclusions.

[Ucy]

This post made sense during the bearish market when profit making was hard like gambling.  I guess most experienced cryptocurrency traders would disagree with it today.

Good crypto traders can make profit from most of their trades... not sure this is the case with gambling

[adamvp]

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.

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.

Because both needs more skills, it can really improves how strategy you will use not to lose. But trading is better even if your a newbie you can trade even if your not experience gambling. It is not so necessary to play poker if you want to learn trading.

Skills wise yes but if you want to learn trading then you must focus on learning trading directly, where you don’t need to spend time on playing poker which can lose your money. We make big decision on both field but your decision in trading is critical because its a long term decision and not just a day of decision.

There are few kinds of trading: day-trading  swing-trading,  long-term trading, scalping.. in day-trading and scalping you have to make decision very fast - like in poker.. and you see to learn trading you have to focus on trading learning - but  I would like to compare things with sport. There are quite common cases when sporstman complements their main training with additional activities (f.e
 Formula one  drivers are starting in WRC quite often and sometimes they are training cycling etc..) so you can train poker to improve your skills

[joshy23]

This post made sense during the bearish market when profit making was hard like gambling.  I guess most experienced cryptocurrency traders would disagree with it today.

Good crypto traders can make profit from most of their trades... not sure this is the case with gambling

Good crypto traders always find ways to try getting benefits from each situation inside the market, there's no bull or bear but they are always finding moving coins to invest and to have a good use of every movements.
But in terms of gambling, again it will be a psychological interpretation whether to use this practice to achieve.

[RivAngE]

Why poker? This gambling game is far from what trading is like.
Sure, there are people who consider even trading to be gambling, but poker requires is about calculating odds based on the info you slowly receive, reading your opponents and outsmarting them.
Trading is about product research, market research, timing and evaluation.

Totally different things.

[partysaurus]

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

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

i dont agree at all, the only real thing i can see that are the same is how you should treat the money you use, and have proper risk managment to not lose it all in one bad luck move.

[jademaxsuy]

Yeah I can relate to this as I have played poker too and it will challenged one to gamble or calculate risk in order to gain. Thus, the steategy to take is very crucial same as when one do marginal trading. But, in my case I would rather hold.and see clearer profit rather than risking and in the end losing money whenever trading fails.

[Jjewelle29]

I think playing poker It is a good idea if you want to improve your skills more and sometimes porker it is about luck of cards. If the two will combine there is always a big chance to win.

[nikola22]

I don't think that playing poker will help you get better knowledge in trading because these are different areas of earning money.

[hahay]

I don't think that playing poker will help you get better knowledge in trading because these are different areas of earning money.

Yes it is indeed different, but if you realize about controlling emotions, at least you can learn from gambling. In gambling self-control and emotions are very important just like when you trade, so in this case if you are able to keep emotions good then panic and greed will be handled well too.

[MFahad]

Well I do agree with you that both are unpredictable, also i agree with you that trading and poker both are same, if you think that poker is same like trading then you could say that the whole gambling is same like training. Actually, in my wise, every game of gambling is same like trading, we take a risk and till the end, we don't know that we could win or loss, and sometime during the playing we think that we could win but in the end the result is different, so same situation in trading.

[Betwrong]

This post made sense during the bearish market when profit making was hard like gambling.  I guess most experienced cryptocurrency traders would disagree with it today.

Good crypto traders can make profit from most of their trades... not sure this is the case with gambling

From your post it may seem like making money during a bullish market is easy, but that's not true. No one knows when the bullish trend ends and when the bearish one begins. Any trader, experienced or not, can lose with trading, because each situation is different, and this fact is probably the only certain thing one can gain from their experience.

This post(OP) makes sense today too because it's not about predicting the future in order to have positive outcomes, but rather about money management. A good money management technique can help you to win in poker in the long run, and it can help you to earn with trading within several days, or at least not to lose a significant amount.