Vlog 9: Poker & Trading
Forex Trading vs Poker: Surprising Similarities
ОбзорEmotional stability — remaining calm Any professional poker player will tell you that in order to win a tournament you need the ability to process information quickly and make an immediate decision with little self-doubt.
Halilu Yahaya January 17, at 6: Poker is arguably the most popular game of chance in modern gambling.
Правда или развод?
All calculated decisions and risks. Leave a Reply Cancel reply Your email address will not be published.
You can try to figure out what hand they are holding. Recent Popular Comments Nial Fuller.
11 Reasons Poker Players Make Great Forex Traders
Just keep leverage low and risk. What is Forex no deposit bonus?
Из чего сделано?
Even if you get dealt a bad hand, every so often you need to keep posting some blinds, while small can add up. With poker, playing in the bigger hands and bigger stakes games, it gets more difficult to find willing players.
Thats why, Traders confidence has translated into amazing https: Tim Wilson January 15, at Often they incur huge losses when a calculated bet backfires. The money you have committed is already in the pot.
Как не надо делать
Get some order flow knowledge and you stand a chance at really making it. My goal is to share practical advice to improve your forex psychology without boring you to death.
All calculated decisions and risks. To succeed at poker, one must be methodical in their approach and grind out each hand while cultivating enough discipline to stick to good poker principles. Thanks and God bless. Well to be fair to poker, it is a fun social event where Forex trading can be sometimes a lonely and isolated career.
But you can never get your stop to break even and get your money back. Then it may be time to take a break.
With trading you can do just that. But, if you are focused on the long term goals of making a profession out of either then you can succeed.
Who knows you may have some lightbulbs and epiphanies where you notice how to harness the market volatility. So what are some of the most important things we can learn from professional poker players?
Edubliss January 15, at In poker you need to choose if it is worth it to commit more money into the hand.
To do so requires a large amount of confidence. He has a monthly readership oftraders and has taught over 20, students.
Different pairs have different tendencies which should be taken into consideration as they can determine the appropriate trading approach.
Hey Nial, great article.
There have been several discussions over the years about the similarities between forex traders and poker players. I wrote an article many years ago about this concept here.
And if it does occur, you can bet that they handed their instant wealth right back to the market thanks to overconfidence and lack of trading experience.
This means we only need to use a plain price chart to be able to spot highly profitable low risk trading setups that can offer extremely good return on investment. Hopefully, you can develop the mental edge you need to become the best trader you can be. Great comment John, I agree I would much prefer to remember the ten greatest trades that I had, rather than the ten greatest poker hands.
There are losers who have placed hundreds of millions of dollars in trades and billions of dollars in trades yesterday that lost, and they will do so again today, and then into next week.
It is either you win the pot, lose the pot, or fold. Many people are afraid of the unknown and will drive themselves crazy with the knowledge they cannot control everything they are engaged in. You need to put in the blinds to play the game.
Those Information are regularly updated. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You need to decide when you are drawn dead and should just cut your losses. Forex trading involves substantial risk of loss and is not suitable for all investors.
I been following you for a while now and have really learn so much from you.
If a shop owner neglected his store and just expected customers to pour in and purchase goods, then the business is going to fail. Unless you have some sort of data costs or other trading related expenses.
With trading, you do not need to do no such thing. Like when you set-up a stop loss, say pips distance, 2R would be pips. Ahh, this question has popped up a bunch of times in the BabyPips.
The pros check their ego at the door and move on with grace.