Every trader wants to become a professional. Every new trader must learn because there is no other way to become professional. And sooner or later every trader starts to compare trading with other businesses to find some valuable ideas or techniques. Poker is often compared to trading. Many people say that poker is similar to trading. I have experience in both fields. And I want to write my opinion about this question.
Trading is a serious business. And to decide whether it is similar to poker or not we must compare trading with poker. What is similar and what is different?
The first and the biggest similarity is that in poker and in trading our income is not guaranteed. It is rather difficult to get money for a beginner. Trading and poker are serious businesses. But many people consider that these businesses can give them quick money. Many people do not understand neither mechanisms nor rules of these areas. I know many people who started trading and lose money in a couple of weeks. I know many people who started playing poker and also lose all the money. They thought that they would become rich in a couple of months. And such thoughts will not make you successful trader or player. In this regard poker and trading are very similar.
In trading and in poker we have to deal with probabilities. But probabilities in poker can be counted. Though your estimation of poker probabilities is based on insufficient information you can decide whether your actions are profitable or not. It is difficult but it is possible.
It is more difficult to estimate probabilities in trading. You must understand trends and identify trends correctly; you must understand movements of the market. And you do not have any numbers. You can not say that you have for example 56% to win money in current trade. Moreover each trader estimates the market differently. One trader can say that current market is good but other trader can say that the same market in the same time is bad for him. And both can be right because they can have different trading strategies.
The biggest difference between trading and poker is that if you play poker you take a definite amount at the table. You know that if you have $1000 at the table you will never loose more than this $1000. You can not lose more money than you have at the table. In trading you can lose all your money during one trade. You need to cut your loses yourself. And it is the most difficult thing in trading for many people.
The greatest trader of all times Jesse Lauriston Livermore played poker. We can read about this fact in “Reminiscences of a Stock Operator” by Edwin Lefevre. Richard Smitten is another famous author who wrote about Livermore. Both authors wrote that Jesse Lauriston Livermore liked to play poker with his friends. And he played poker well.
After reading this many traders can say: “Hmmm… If Livermore played poker and was the greatest trader I should start playing too and will become the greatest trader as well”. But as I think there is no direct correlation between your trading and poker skills.
Poker and trading have similar laws. But it does not mean that you will be good trader after success in poker or good poker player after success in trading. Yes, these areas are similar but they require different skills. Anyway if you are a trader you can always try to play poker and decide, is it similar to trading or not. Your own opinion will be more valuable for you.
I wanted to give you some information for thinking. And I would be happy if this article could show you something valuable. If you want to have your own experience of poker you must treat it as business. That’s why you must play with poker rakeback http://highpulserakeback.com/ . Rakeback will give you an advantage. And every trader or poker player must have an advantage.