I decided to learn the game ever since I watched the poker tournaments on TV few months ago. It turns out I really like it. Poker is much like trading and I believe that it's the best practice for trading.

This is precisely what I have learned up to now in poker (that is coming from a guy who did not understand what a complete house was)

Most winnings will come from playing very few pick starting hands. When I started out, I found myself playing every hand, thinking that the blinds will not hurt much. But as I perform, I realize that playing tight way you will fold frequently by playing every wager. I didn't realize how much money I lost getting into bets. THese include up, so it is best to jsut play premium hands (for the time being ).

Poker is all about probabilities and skill. Luck is a small influence. A strong starting hand may lose its edge as you find the flop. That is what the hands that are great will be and why you keep seeing the same faces at closing tables, even though everybody knows the principles. It's skill despite the fact that you're dealt with random hands!

I am still studying the plogy aspect of poker, such as knowing when to bluff and how to read other people's cards.

So how does this translates to my own trading?

After taking a look at charts the last 3.5 years, I understand that excellent transactions work out fast. These transactions are like my hands that are great that I should be aggressive with. But you will never know how the hand will unfold once you input (flop). So you have to play with the trade willing although right to close out-even if the transaction is a pocket A's quality. You know they are beat when searching at the community cards although I see people go in with great startig hands.

I have VERY tight risk management. I have stopped out a lot; Like the many palms while playing poker, that I fold. But when my transactions go my way my winners are 5x the winners. However, I guess people want to be instead of triumph in the long run. It's the exact same thing in the two worlds.

It's fruing in the beginning to give up these trades so fast especially when these transactions operate out in the long run. It a hand however after the river card, you found that you would have had a complete house. Poker taught me to keep playing my egy because if I continue to all those hands, I'll drop in the long run even though I may win from time to time.

I am not sure how plogy plays trading as it does in poker since it is a lot more difficult to judge other trader's rankings especially for forex market. But so far trading the way I play poker is currently paying off.