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.
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.
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 won’t 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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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.
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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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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