Is Poker and Trading the Same Thing?

[dasziel 10]

Seeing this spot, it seems industry comes over the poker and trading comparasion.

 

https://www.youtube.com/watch?v=lN8UaN6PPBk

 

For me the differences are:

 

1.Trading tournaments treated as poker games are completely skill games without luck as all participants get the same cards ( quotes) .

2. Patient, discipline and risk/reward analysis in real time are shared in both discipline.

 

To be honest, maybe it can be interesting to challenge people instead of challenge the market.

 

¿Opinions?

[zdo 20]

...To be honest, maybe it can be interesting to challenge people instead of challenge the market.

 

¿Opinions?

 

...the market is people.

 

Plus… http://www.traderslaboratory.com/forums/trading-psychology/10549-they-don-t-schedule-championships-trading.html

 

If you need to “challenge people”, why not join in face to face gaming at the tables – poker, etc.

If you’re serious about trading, such a ‘tournament’ might be appropriate during certain developmental stages, but most would be advised to avoid them… sorta like most would be advised to avoid spread betting, buying premium, etc. etc. . … that is – if you’re serious about trading…

[dasziel 10]

Hi,

You are right, but I like to make some considerations.

From my point of view its not the same spread betting, where yor EV is below zero, as you bet againts the house, that trading tournaments, where house only collects a rake for management. EV depends on players in each tournament.

 

I think you can be seriously with trading and play trading tournament to win money in the same way, sorry i dont see the difference.

 

If you manage a hedge fund, then its different, but in the case of rtail traders....for me its clear.

 

A Trader can swap between real trading and trading tournaments.

 

One thing is clear. In a development stage tournament are more powerful than a demo with 50 dollar running in MT4.

[sourcecodefx 10]

Seeing this spot, it seems industry comes over the poker and trading comparasion.

 

https://www.youtube.com/watch?v=lN8UaN6PPBk

 

For me the differences are:

 

1.Trading tournaments treated as poker games are completely skill games without luck as all participants get the same cards ( quotes) .

2. Patient, discipline and risk/reward analysis in real time are shared in both discipline.

 

To be honest, maybe it can be interesting to challenge people instead of challenge the market.

 

¿Opinions?

I think poker games also needs luck.

Since patient, discipline and risk/reward analysis in real time are shared in both discipline, why do you say it's a difference?

[Adrian 10]

IS Poker and Trading the Same Thing?

 

Actually no. One is a card game, the other involves financial markets.

Hope that clears everything up for everyone.

I did make the assumption you were talking about trading as in buying and selling financial on listed commodity, stock and futures exchanges.

You may in fact have been talking about trading cards of some kind?

 

[MightyMouse 12]

Poker and trading are very similar in that they are both zero (negative) sum games. Negative since there is either a commission or a rake to pay on each trade or hand.

 

It is easier to assume that a poker game played at a casino is a fair game, but not as easy to assume that trading is as fair as it should be.

 

The payment process is the same in both. The weak or unlucky players pay the strong or good players. In either venue a lucky and poor participant could take money from a good and unlucky participant. Foolishly, people claim that they would rather be lucky than good, but everyone gets their moment when the sun shines only on them but not everyone can be good.

 

I would rather be good than lucky

[Adrian 10]

I'd rather be lucky than good any day of the week.

That has to be one of the easiest choices in human history.

And to disagree, means a person has incredibly poor insight and judgement.

 

The lucky win lotto at 18.

 

The skilled are still sitting at their desk at 50, trying to generate an income and accumulate enough savings to one day 'retire'. :doh:

 

The lucky wins lotto again in their 30's.

 

Yep, only a fool would wish to be skillful more than lucky. :rofl:

[MightyMouse 12]

I'd rather be lucky than good any day of the week.

That has to be one of the easiest choices in human history.

And to disagree, means a person has incredibly poor insight and judgement.

 

The lucky win lotto at 18.

 

The skilled are still sitting at their desk at 50, trying to generate an income and accumulate enough savings to one day 'retire'. :doh:

 

The lucky wins lotto again in their 30's.

 

Yep, only a fool would wish to be skillful more than lucky. :rofl:

 

If hoping you win lotto is how you plan on retiring before or after 50, then you best hope at the same time that the food stamp program continues. Lotto is a fool's game and attracts fools. It is you and those who think like you who benefit most form collectivism.

 

Good luck with your dollar and your dream. I suppose you'll stick it to me when you win.

[zdo 20]

I'd rather be lucky than good any day of the week.

That has to be one of the easiest choices in human history.

And to disagree, means a person has incredibly poor insight and judgement.

 

The lucky win lotto at 18.

 

The skilled are still sitting at their desk at 50, trying to generate an income and accumulate enough savings to one day 'retire'. :doh:

 

The lucky wins lotto again in their 30's.

 

Yep, only a fool would wish to be skillful more than lucky. :rofl:

 

re: "The skilled are still sitting at their desk at 50, trying to generate an income and accumulate enough savings to one day 'retire'."

:helloooo: In here, we're talking here about skilled performance workers - not skilled production, persuasion, or service workers

doubling down on that :doh:

 

 

 

 

 

 

....

 

 

 

 

 

 

At any “right now” – I’d rather be ‘lucky’ than ‘good’.

But across time, I’d rather be ‘good’ than ‘lucky’

…

cause if you ain’t ‘good’, you have little chance of properly utilizing what ‘lucky’ brought you… which will keep you in the basically the same boat as the ‘unluckies and bads’

 

… the best ‘plan’ is to go for ‘good’ AND ‘lucky’

[SIUYA 11]

The good produce their own luck.

 

but I would also take winning the lottery at 18 as well.....better than at 81

[jpennybags 11]

I've heard the phrase..."he ran out of luck". You never run out of "good"... good is enduring... it's there through all seasons. Work at good, and be willing to admit that sometimes you were lucky. Ben Hogan said... "the harder I work; the luckier I get. True dat.

[MightyMouse 12]

Would you rather be a casino or a Blackjack player?

 

The casino has an edge; it is good at what it does. The blackjack player has no edge and can only rely on luck.

 

There aren't may long run black blackjack winners. If there are, they probably stopped playing.

[dasziel 10]

Poker and trading are very similar in that they are both zero (negative) sum games. Negative since there is either a commission or a rake to pay on each trade or hand.

 

It is easier to assume that a poker game played at a casino is a fair game, but not as easy to assume that trading is as fair as it should be.

 

The payment process is the same in both. The weak or unlucky players pay the strong or good players. In either venue a lucky and poor participant could take money from a good and unlucky participant. Foolishly, people claim that they would rather be lucky than good, but everyone gets their moment when the sun shines only on them but not everyone can be good.

 

I would rather be good than lucky

 

Agree.

 

Markets are like poker but with different cards for retails and institutional. If you cannot beat people in a trading tournament wiht same rules, slippages, leverage, etc.... its impossible you beat the market by your own....its a dream.

 

Personally, I think trading tournaments played like poker in terms of competion, prize pool, etc.. if they are run in a professional way, it can be a good tool to start, or generate incomes for traders with small accounts ( less 10,000).

 

For example, traderlinker is starting to run this model, and English spoken people is not there, spanish are playing already.

Take a look to leaderboard, its amazing!

 

(Yes, im the 6th:))

 

https://en.traderlinker.com/portadas/lideres

 

Regards,

[Oldwolf 10]

I think that the only similarity in poker and trading is the mindset in the terms of money management. You need to know where to stop. Because market never bluffing:missy:

[MrFunke 10]

They're the same in the fact you win & lose money and there's significant risk involved..

 

but fundamentally, probably not