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Poker vs Trading

  • #81
  • Apr 23, 2010 11:38am Apr 23, 2010 11:38am
Quoting Intensity
About your house and the Heloc. Among others
What about it Do you want to rent it?

What is the Heloc?
  • #82
  • Apr 23, 2010 11:40am Apr 23, 2010 11:40am
Quoting Intensity
I have a great admiration for Britannia but the UK just isn't the same anymore
And tomorrow China will be the big bully at the poker table... (just to stay on topic )
I am a big fan of France TBH. I think the French sense of nationhood still exists. Whereas GB is indeed a hollow shell of it's former self. The French intolerance of leftist, appeasment style politiking impresses me.
I still want out of the EU though.
  • #83
  • Apr 23, 2010 11:47am Apr 23, 2010 11:47am
You meant - A home equity line of credit

No, I funded my account from the sallary

  • #84
  • Apr 23, 2010 1:17pm Apr 23, 2010 1:17pm
Wow, yet another thread that's become polluted by ego and bickering.

Anyway, I agree with the earlier posts (Vik22 and aiyahmarklah) that trading differs from Blackjack, and indeed other casino games, because market odds can't be precisely calculated. Also, sorry, I misunderstood the Poker players here - I see now that you equate a single trade to a buy-in, whereas I was equating it to a hand.
  • #85
  • Apr 23, 2010 1:27pm Apr 23, 2010 1:27pm
Quoting hanover
, because market odds can't be precisely calculated.
Exactly. And neither can your opponent hand.
  • #86
  • Apr 23, 2010 1:52pm Apr 23, 2010 1:52pm
"We always have been, we are, and I hope that we always shall be detested in France."

Yes, and they went down very well too.
- A retort to a comment on how very well French cavalry had come up at Waterloo.

Duke of Wellington
  • #87
  • Edited 3:16pm Apr 23, 2010 2:10pm | Edited 3:16pm
Quoting Zeke
I said that Chip Reese never won the main event. That is true, he never did. It doesn't surprise that he won other tournaments. The HORSE tournament may be gaining in prestige, but it isn't the main event.
Well, Reese took 10 years off or so from playing in the Main Event (or any WSOP event for that matter) to focus on raising his son and step-daughter. He only just returned in 2004 or 2005 so I'm not sure if he's the best benchmark to use as a sample. However, I believe your main point was about the luck required for tournaments (and I'm not really sure how much tournaments are analogous to the forex and that might have been part of your argument). Trying to win the Main Event IMHO is a bit of a crap shoot with fields in the 6000's ... Sheesh, it's hard enough to win a 100 person tournament as the best of the best.
"Believe nothing you hear and half of what you see." Proverb
  • #88
  • Apr 23, 2010 7:32pm Apr 23, 2010 7:32pm
Quote
Who gives a crap about the WSOP, especially the main event? It's TV fodder.

I'm not saying anyone should give a damn about the WSOP main event. You're criticizing the comment out of context.

------

Quote
Well, Reese took 10 years off or so from playing in the Main Event (or any WSOP event for that matter) to focus on raising his son and step-daughter. He only just returned in 2004 or 2005 so I'm not sure if he's the best benchmark to use as a sample. However, I believe your main point was about the luck required for tournaments (and I'm not really sure how much tournaments are analogous to the forex and that might have been part of your argument). Trying to win the Main Event IMHO is a bit of a crap shoot with fields in the 6000's ... Sheesh, it's...

OK, that's a good point. I didn't know he spent that much time away from the game. And yes, this was just a way of talking about how large of a role luck plays. I've heard that line from Rounders, "Why do you think the same five guys make it to the final table of the World Series of Poker EVERY YEAR? What, are they the luckiest guys in Las Vegas?" so many times that it makes my eyes roll.

I don't see that forex and poker tournaments (or poker in general) have all that much in common. But perhaps poker can be of some small benefit to traders in teaching them to endure the variance that they can surely expect, especially if they trade a system with a hit rate of less than 40%.
  • #89
  • Edited 10:00pm Apr 23, 2010 9:18pm | Edited 10:00pm
Wanted to put my response in yours, but FF editing is on the fritz ...

Here it is:

another good example. the movie Rounders was release in 1998 (prior to the Moneymaker effect) ...

Zeke: "I don't see that forex and poker tournaments (or poker in general) have all that much in common. i disagree with you here, but only in part (see prior post) ...

Zeke: "But perhaps poker can be of some small benefit to traders in teaching them to endure the variance that they can surely expect ..." absolutely true

Zeke: "especially if they trade a system with a hit rate of less than 40%." however, even "hit rate" of 30% (or PF of 1.0 or better) can be a winner ... the key is discipline (patience --- a sub-component -- there are so many others) and MM (good grief, i'm starting to sound like all the other drones out there ... wink wink).

Grinder: "p.s. i wish nothing but good fortune to you and all others trying to make a difference in their life via poker or the forex in a way that makes a difference in any way."
"Believe nothing you hear and half of what you see." Proverb
  • #90
  • Apr 24, 2010 8:59am Apr 24, 2010 8:59am
Quoting fxgrinder
Grinder: "p.s. i wish nothing but good fortune to you and all others trying to make a difference in their life via poker or the forex in a way that makes a difference in any way."
  • #91
  • Apr 24, 2010 9:27am Apr 24, 2010 9:27am
If you are a good patient picky trader, only waiting for the best set ups, I dont think you will be a good poker player.

Todays poker is all about aggression, too many good aggressive players around. If you only play very good hands (= very good trades) you will either get eaten up by the blinds or bullied by the other players. Also it is obvious that you have a good hand.

In trading you dont have to worry about either, you can be as patient as you like and still make lots of money.
  • #92
  • Apr 24, 2010 9:40am Apr 24, 2010 9:40am
Quoting fxgrinder
Grinder: "p.s. i wish nothing but good fortune to you and all others trying to make a difference in their life via poker or the forex in a way that makes a difference in any way."
Good luck to you too Chewbacca !
  • #93
  • Apr 24, 2010 10:35am Apr 24, 2010 10:35am
Quoting Scotty2Cues
If you are a good patient picky trader, only waiting for the best set ups, I dont think you will be a good poker player.

Todays poker is all about aggression, too many good aggressive players around. If you only play very good hands (= very good trades) you will either get eaten up by the blinds or bullied by the other players. Also it is obvious that you have a good hand.

In trading you dont have to worry about either, you can be as patient as you like and still make lots of money.
Very good observation IMHO.
It's possible to draw parallels between any sort of risk taking activity, but
I think main difference between poker and trading, is, you can influence outcome in a poker hand (bluffing, etc..), in trading you can only decide when to exit.
  • #94
  • Apr 24, 2010 4:15pm Apr 24, 2010 4:15pm
lol some funny ideas expressed here. I studied and played online poker for a couple of years before switching my focus to forex, made a lot of money at midstakes (NL50, NL100) which is now my forex risk capital. while there are many similarities, especially regarding psychology and EV, there is one huge difference - poker gets harder and harder as you move up through the limits. Anyone with half a brain can beat low stakes online poker - turning $100 into $1,000 is easy - but go to the next level and turning $1,000 into $10,000 is much, much harder. Forex is much harder to learn but it doesnt get any harder with more money at stake.
si hoc legere scis nimium eruditionis habes
  • #95
  • Apr 24, 2010 4:17pm Apr 24, 2010 4:17pm
If anyone wants to get serious about learning online poker go to pokerstrategy.com
si hoc legere scis nimium eruditionis habes
  • #96
  • Apr 24, 2010 5:10pm Apr 24, 2010 5:10pm
Quoting numbnuts
lol some funny ideas expressed here. I studied and played online poker for a couple of years before switching my focus to forex, made a lot of money at midstakes (NL50, NL100) which is now my forex risk capital. while there are many similarities, especially regarding psychology and EV, there is one huge difference - poker gets harder and harder as you move up through the limits. Anyone with half a brain can beat low stakes online poker - turning $100 into $1,000 is easy - but go to the next level and turning $1,000 into $10,000 is much, much harder....
NL50 and NL100 aren't midstakes (well played though).

I keep saying i'll play more NL myself cause the profit potential is far greater, but I find it so boring compared to limit. Am I alone?
  • #97
  • Apr 24, 2010 10:52pm Apr 24, 2010 10:52pm
Quoting Ted1983
NL50 and NL100 aren't midstakes (well played though).

I keep saying i'll play more NL myself cause the profit potential is far greater, but I find it so boring compared to limit. Am I alone?
If NL is boring for you, that explains everything then. Crushed/Bluffed nit/rock after 2 or 3 orbits.
  • #98
  • Apr 25, 2010 5:24am Apr 25, 2010 5:24am
Quoting Ulterior
If NL is boring for you, that explains everything then. Crushed/Bluffed nit/rock after 2 or 3 orbits.
Please elaborate great one.
  • #99
  • Apr 25, 2010 6:28am Apr 25, 2010 6:28am
Quoting Ted1983
Please elaborate great one.
I never talked about a donk Fixed limit poker, man ! And we spilled so much saliva on all the talks.

Damn!
  • #100
  • Apr 25, 2010 6:50am Apr 25, 2010 6:50am
HU4ROllz?
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