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Poker & Trading (leveraging on poker success)
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Poker & Trading (leveraging on poker success)

  #31 (permalink)
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montanajtt View Post
As regards trading many markets had some really big inefficiencies, I entered quite late in the business but until 3/4 years ago some markets still had some very good opportunities.

So now all the markets are efficient and opportunities are gone? I just can't really get on board with that.

Like with poker the strategy evolves but there is always going to be a small minority making a killing.

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  #32 (permalink)
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I think we are going off-topic, this thread was not opened to discuss about the inefficiencies in the market.
Anyway just as clarification. When I talk about inefficiencies, I'm talking about a particular weakness in the
structure of the market that can be exploited to make some money with a very low risk.
I don't say inefficiencies are gone, but the ability to exploit them from the average trader or the home trader is
close to nothing. In few words you could also find an inefficiency in a market but costs and capitals required to exploit it
would prevent you from doing.
Having saying that I didn't mean to say you can't make money with trading today, or you can't make money with poker.
Just like today, there were people who lost money both with poker and trading 10/15 years ago and people who made, so nothing is changed and we can say we both agree with it.

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  #33 (permalink)
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Sorry but the idea that markets were less efficient in 2012 than today is completely ludicrous.

It is an almost Malthusian argument that I have read so many times and across so many speculative activities.
If you buy winter hats in the summer, they are always going to be priced "wrong".

Actually, all I can remember in 2009 in poker were people complaining that the games use to be so much easier in 2006 when party poker was played in the US.

Strategies have a shelf life in both, bubbles come and go in both but that same thing happens in a ton of things in life.

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  #34 (permalink)
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Darthtrader4beta View Post
Sorry but the idea that markets were less efficient in 2012 than today is completely ludicrous.

Said this way certainly it is. But that wasn't what I said. You missed my point but I understand you say that there are opportunities every day and I agree with you that if markets change you have to change with them and adapt.

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  #35 (permalink)
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The big difference between Poker, or any other form of gambling for that matter of fact, and Trading is that in Poker you cannot lose any more than you have invested in the hand by doing nothing.

In a poker game when it is your turn to act, it wonít cost you any more money if you do nothing. Worst case being that someone puts you on the clock, your hand is folded and you lose everything you have bet so far in the hand.

With trading, by doing nothing or not acting, your losses can continue to mount and in some cases exceed of your trading capital.

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #36 (permalink)
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I firmly believe that everything is related to everything in some way. In the case of trading and poker there is A LOT of overlap.

Just take the idea of tilting in poker. It's basically saying you stopped following your system and now your playing based on your emotions. This happens in trading ALL THE TIME. Whenever you move your stops, don't use stops, pray that a loser turns into a winner, over trade, exit a trade too early, enter a trade too early, you are trading based on your emotions. This will ruin you.

Another example is patience. There's no better way to learn about patience then through poker. You have to fold many many many times and learn to play the hands that give you the best chance of winning. You need to wait until the odds are in your favor. In trading that means waiting for your set ups to happen and then going in.

I love trading and I love poker.

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  #37 (permalink)
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TennisOrDie View Post


I love trading and I love poker.

Do you make any money at either of them?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #38 (permalink)
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deaddog View Post
Do you make any money at either of them?

To be honest, I am better at trading than I am at poker.

I've found poker to be more difficult because as you start playing for more money, your opponents get better. But with trading, adding more contracts doesn't make the game any harder or easier (unless you're going from 1 contract to 1000). Poker also has elements such as bluffing where as in trading it's simply buy or short. There are less decisions to make I feel.

I can say with great pride that I can trade profitably. At poker I am break even at best.

I've also started playing chess recently. Does anyone else play chess to help with their trading?

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  #39 (permalink)
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TennisOrDie View Post
I can say with great pride that I can trade profitably. At poker I am break even at best.

I've also started playing chess recently. Does anyone else play chess to help with their trading?


You probably have just not put as much effort into poker as trading though. I think anyone can be good at poker if they study hard enough. The markets are vastly harder IMO because it would be as if you had to play a clone of the current best player heads up on every hand. There is no low stakes market game that we know we are only playing against amateurs.

I have played chess for fun in the past but when realizing to improve I had to study hard I decide to put that into poker instead. There just to me seems to be so much more memorization needed with chess strategy. 59% vs 58% equity in a spot in poker is practically meaningless but a piece 1 square off in chess completely ruins the strategy.

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