Play poker to train trading

[TheCoinGrabber]

IMHO the biggest lesson from poker is that you can't always win. Sometimes you have to take a small loss to save whatever remains of your investment. That you don't always have to "call".

[1714951356]

1714951356

[1714951356]

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[Yudhisthir]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

[Nellayar]

The thing about poker is, you make a buy in and you want to win, or you expect to lose it all. So it's a competition, you pay to enter and you beat others. There is some element of skill, a lot of luck.

Trading, there is definitely element of luck but no one should be going to trade and thinking,,, I will win 10x or lose it all. No, they have targets, 10% a month, or 10% a quarter.

So no, never say you learn to trade from poker.

You know nothing about poker my friend. You are bidding in poker not only buying in and showing cards. With bidding, you can do money management. I have 2 pairs so i can put max 5% of my wallet hoping to not be overbid and win. Like in trading. I'm bouncing from support. I'll set stoploss just under risking 5% of my wallet hoping for profit till next resistance.

If you are playing poker with strategy like: - I have 2 pairs. Let's see if i can double with that and you put all your money on table than definitely you won't learn anything from poker.

The OP wants to address is that the poker and trading are just the same. They have the different style to win but we have the same technique we will use. Trading and poker need to have analysis when it comes in execution. If you will make some mistake in the execution, definitely they will lose. I am also a poker player and I think it has relevance with trading also.

[leowonderful]

You're always eventually going to lose; the thing is, if you're prepared to weather a loss should it happen (you should obviously be trying to avoid one as much as possible though) then you are in your road to becoming a successful trader or poker player. In fact, if you manage your trades correctly and with proper risk to reward ratio, you can be wrong somewhat often and yet still be profitable. You still shouldn't be comfortable with losing, as being just a bit nervous can keep you more alert, though.

[michellee]

IMHO the biggest lesson from poker is that you can't always win. Sometimes you have to take a small loss to save whatever remains of your investment. That you don't always have to "call".

Then you don't have to play poker if you know the consequences so you can save your money for another thing. Playing poker is true needs a lesson, especially if you want to be a pro poker player and you can find so many lessons on the internet to start to learn. But always remember, you don't have to play in the real games to learn because you will spend much money to understand how to play poker with good.

[Ryker1]

Indeed for me, OP was right. I can be considered that the strategy we can use in the poker game might be used also in the trading. Strong guessing cards just like picking good coins to trade. If you had a wrong move, of course, you also lose your fund. Even though they had similarity but overall the risk was there and it depends by luck you had. Well, just focus on one habit. Indeed, If you are getting a passion for poker then focus on it, not in trading.

[Capt00]

Indeed for me, OP was right. I can be considered that the strategy we can use in the poker game might be used also in the trading. Strong guessing cards just like picking good coins to trade. If you had a wrong move, of course, you also lose your fund. Even though they had similarity but overall the risk was there and it depends by luck you had. Well, just focus on one habit. Indeed, If you are getting a passion for poker then focus on it, not in trading.

Winning in poker will be a combination of luck and strategies which is a big difference in trading where you can use our only best strategies in order to make money.  The good thing in trading is that we can always be at the right choice of our coin cause we know already the market and it is already on the list unlike in poker where absolutely zero until we open it.

[imstillthebest]

Winning in poker will be a combination of luck and strategies which is a big difference in trading where you can use our only best strategies in order to make money.  The good thing in trading is that we can always be at the right choice of our coin cause we know already the market and it is already on the list unlike in poker where absolutely zero until we open it.

in trading you may say that your confident because you pick the right coin but there is still a tension when deciding because you wont hundred percent know if the coins that you hodl will rise or will fall , that is the same as playing a poker game which is also unpredictable until you open your cards or until your openent open thier cards . luck and strategies are both required on poker and trading .

[mirakal]

I guess I don't have to just to train trading since I don't really play poker a lot, my passion in gambling is different but I can say that being a gambler as long as your game requires proper analysis, it can be helpful in learning how to trade.

Every trader is hoping to be successful, but everyone has their own style and since this is about judgment done in a certain timing, no strategy that is fix for this as all are done in a given situation.

[Johnzky]

I guess I don't have to just to train trading since I don't really play poker a lot, my passion in gambling is different but I can say that being a gambler as long as your game requires proper analysis, it can be helpful in learning how to trade.

Well I am not a poker fanatic in online gambling since it’s harder for me to find strategy to win,but in real poker I love to play since I have good history of winning in local gambling

Every trader is hoping to be successful, but everyone has their own style and since this is about judgment done in a certain timing, no strategy that is fix for this as all are done in a given situation.

And also needs some luck sometimes to succeed,because big player may distract our strategy with their  interference

[Polar91]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

[mersal]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

[Capt00]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

[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

I have not yet experience playing poker but what I can see to others it that yes it's very similar to trading. Similar that it is very risky. Needs effortd time and think about it carefully in order to win the game. They are the same difficult and not easy. Well, in my opinion as long as you are learning something you can learn it soon and become successful on that.

[Irvinn]

Of course, many people see many reasons to find similarities between gambling and trading.  But from my own experience I was able to understand that gambling always guides the player emotionally.  Thus, Emina’s excitement is in control of the situation, not the person.  But if we are talking about trading, then you need to initially set a goal for your work and then use all your experience.constantly need to calmly respond to all situations in the cryptocurrency market and never give in to emotions.  At the same time, the excitement in the trade can play a cruel joke with you.

[mersal]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

But we have chart and lot of indicators to analyse the market while doing trading but while gambling nothing helps though.

[Best Dreams]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

Yeah both of them are based on learning we will have to learn it allot, if you are going to be gambler it will need allot of knowledge and if you want to become a trader you will have to gain skills and patience but whatever we choose we will get allot of profit, so I trade with my crypto and I gamble with my money.

[udidrone]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

Yeah both of them are based on learning we will have to learn it allot, if you are going to be gambler it will need allot of knowledge and if you want to become a trader you will have to gain skills and patience but whatever we choose we will get allot of profit, so I trade with my crypto and I gamble with my money.

Actually have skill in both trading and gambling is good to do. Because sometime trader usually get bored too with their usual activities and gambling or maybe play poker. And in poker, we can learn like what people said about patience and get any strategy to minimize loses. Both of it is good in general.

[Tungsten-1]

I have extensively played poker and to some extent done trading. Except for the fact that there's a bit of luck playing on both, I found no other similarities between them.
Both requires attention and so does every work. The study done in poker are based on exact time while trading needs more detailed research and study.

The point of the OP is actually relating them, not telling that they are similar in terms of approach. Of course they are not similar but when we go on a different perspective, we can see that traders and poker players are both taking risk but in different way and basis.

Risk is in everything and ofcourse we are born after huge risky operations.But we need to focus on what we are going to do will make us to be better than trying something for getting better at some other things.

Will be the risk are we facing in both poker and trading, it makes people not to stay at its focus when they keep thinking of it.
Playing poker is just like in trading, the risk is their, both have possibility of losing and winning is just be our luck. But I've never wanting to have this two in a time, and I've preferred to do trading the risking my money in gambling.

Yeah both of them are based on learning we will have to learn it allot, if you are going to be gambler it will need allot of knowledge and if you want to become a trader you will have to gain skills and patience but whatever we choose we will get allot of profit, so I trade with my crypto and I gamble with my money.

Actually have skill in both trading and gambling is good to do. Because sometime trader usually get bored too with their usual activities and gambling or maybe play poker. And in poker, we can learn like what people said about patience and get any strategy to minimize loses. Both of it is good in general.

Yes you are right it is very important to have knowledge about both as trading is profitable ad it is best way to make money at the same time, gabling will give you mental relaxation along with profit, so both are good but you cannot focus on both at single time, when you are gambling then focus on gambling and if you are trading keep learning about trading.

[proTECH77]

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

That's exactly my point because this would have suited the bearish days and not when the market has gained dull momentum. Trade still remains the ultimate compares to the gambling industry because gambling is more of luck than gambling for win. Trade is my favourite and had made some profit from it few weeks ago.