Any Poker Players Here

Placebo

Well-Known Member
#1
Does anyone here play Texas Hold'em ? I have been playing cash games and tournaments from last 2 months. There are so many parallels which can be drawn between trading and playing poker. In a few interviews of traders i had read about how fascinated these big boys were about playing poker. But after playing for a while now i'm getting a hang of what these traders were implying.

Anyone here who feels the same or differently and would like to share their opinion.

Cheers
 

Placebo

Well-Known Member
#3
I never played Poker though do know about the game ! However would like you to share the parallels between the game and trading as you see the same!
The first most basic one is whether to play a pot or not. It's exactly as should i take this position or not. What happens is when you have been dealt hole cards you would like to see how they develop once community cards open up but to do that you have to match the table amount to proceed further. If this amount is too large it makes no sense proceeding further. Its like one of those situations where you have a setup but have not taken the trade since the initial stop was too wide.

Pocket Aces are the strongest starting hand in the game. The winning rate is above 75% but they key is they do not win all the time. Most people go broke on this hand because they get too committed. Similarly the best setup will not win all the time. What was best now turned out to be marginal after a variable change.

When a lot of money has been committed people have issues letting it go even though they know they have been beaten. So when a setup fails most people know they should cut their losses but rather do the opposite.
 
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ashu1234

Well-Known Member
#4
Hi placebo,
Yes i get it what you are trying to say, I used to play poker years back and read this article by Brett about the same thing you are implying...
http://traderfeed.blogspot.in/2010/06/trading-and-poker-reaching-next-level.html

Like trading, poker also offers the same emotional heights when a person has committed deep money on the hands, to fold the cards is indeed synonymous to taking a big stop loss to the position which you were so sure.

Like the author Brett who specializes in the trading psychology I also second this thought that disciplined and systematic rules of playing the poker game can be applied to the actual trading too.

I never played cash games but i can feel the pressure would be the same as when we are trading and when real money is at stake.

Hey btw if you are card enthusiast then try playing Bridge, though the game doesn't provides thrill of betting money but it requires tremendous level of skill to play.

Cheers....
 

onlinegtrash

Well-Known Member
#5
I am not a good poker player... but I like the game... and play with computer...

yes...poker has a lot in common with trading , business and in general life itself!

Going on tilt in poker... is exactly similar to going nuts & doing stupid mistakes in trading.

Only difference between poker and trading is....

in poker u get your turn to make your move, and after that you may lose or win.
in trading simply staring at screen paralyzed is good enuf to lose money!
 

onlinegtrash

Well-Known Member
#6
altho people don't see chess as having much similarity with trading...
I see blitz chess game or even normal chess game to have more similarities with intraday trading.

In blitz you have to beat the clock to stay alive, you don't really have time to
think deeeeeeeeeeply but should be able to 'see' setups and developments
and react promptly with best strategy. no time to think here!
 

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