Poker vs Trading -
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thread: Poker vs Trading

  1. #21
    Junior Member Clarwitter's Avatar
    6
    Ah so. . .mechanical trader is liken to a BJ player, while optional trader is liken to a poker player. While stats are used by both one is rigid while the other isn't. Am I thinking correctly?

  2. #22
    Junior Member QuimFokt's Avatar
    16
    Ah so. . .mechanical trader is liken to a BJ player, while optional trader is liken to a poker player. One is rigid while the other is not, while stats are used by the two somewhat. Am I?
    Half a dozen years ago, ABC/robotic poker egies worked, so they'd be no different to what a mechanical trader would do. I consent from one standpoint, but BJ doesn't need the kind of analysis that trading or poker demand. In BJ we could determine when we've got an edge, how big it is, the exact outcomes etc.. We do not have that advantage in gambling or poker. This is the reason I'd still relate trading to poker, actually for players that are mechanical.

    I'd say it is all mechanical, the only difference is whether we're aware of it.

  3. #23
    I see you do limit games, that is a lot of patience man. I've looked at these 45 player tourneys before, the main issue is that the time commnt, I had a amateurish egy for enjoying such tourneys (NLH), which is to either find a big pile early or have busted ancient while adhering to basic strong play as much as you can, such as I can save my time grinding it up to the last table and move on quickly. Kind of embarassing, there is not any ROI to talk about suffice to say I never had to deposit more cash. I guess I got something right...
    Yes we limit players are gluttons for punishment. The inability to make large bets makes the triumph rate considerably reduced and the variance greater. When the betting is fixed you can not push on a larger hand tougher, and you often can not protect a hand. I favor limit for the quick action however.

    With respect to the 45 person tourneys, the difficulty gets markedly easier as the field size increases. Basically, the fish in the pond that the better off you are. Poker is a very dull pursuit due to the inherent need to avoid confrontation, asI mentioned in the thread. Ask yourself this; If a player busts from a championship what happens to his investment? His equity is split (theoretically) among the remaining players, from the proportion of their chip piles. The arithmetic behind this notion is called Independent Chip Model (ICM for short). You do not have to be able to calculate ICM about the fly but knowing of its impliions is paramount for success.

    As for the variance in PLO. I've only played the smallest (10 cent) bets but the bankroll swings appear enormous, this is more than offset by the fact that noone isn't any good at it. As a word of caution, peolpe seem to fall foul of the idea that starting hand values are not crucial in Omaha. That's a myth. It is correct that hands' cold and hot equity is in holdem but other factors come in to play. You are going to be enjoying lots of hand experience reverse implied odds and many mutiway pots. For instance non nut flush and striaight draws can be big trouble in PLO.

  4. #24
    I stated that Chip Reese never won the main event. That's correct, he never did. It doesn't surprise he won tournaments. The HORSE tournament may be gaining in prestige, but it isn't the major event.

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    It's a lot to do with the top caliber of education now available.
    Who gives a crap about the WSOP, especially the main event? It's TV fodder.
    Jamie Gold won the main event in 2006 and noone would ever accuse him of being a poker player.

    Spot about the available instuction though. Poker training websites are killing the game off.

  5. #25
    Junior Member Clarwitter's Avatar
    6
    Yes we limit players are gluttons for punishment. The inability to produce huge bets makes the win rate much reduced and consequently the variance relatively higher. You can't push a hand harder, when the betting is fixed, from being outdrawn and you often can't protect a weaker hand. I favor limit for the fast paced action.

    With respect to the 45 person tourneys, the difficulty becomes easier as the field size increases. Basically, the fish in the pond that the better you are. Tournament poker is a really dull pursuit because of this...
    I always believed that limit matches is slower paced. I am likely to find those egy cards (they're for limit games) I purchased from amazon and utilize them this weekend online.

    I have read about this ICM matter when doing sit and go study online, I think some people in cards chat swear by it.

    Seeing PLO, I believe its the way to go for any serious player before it turned into mainstream such as NLH.

    Btw thank you for taking the time to describe, do you would like to set some serious moola into online pokering? Those stories I read about online are intriguing, certainly look more attractive it has the cool factor.

  6. #26
    Through exploring trading, I got into poker. Then I realized I enjoyed poker and was able to conquer the very low bets. I have read a lot of publications and am an on/off member of Deuces Cracked (their substance is very informative). I think I could go farther, but the difficulty is appliion. Scalping the EUR/USD would be a cinch, in terms of extended concentration (not issue ) compared to mutitabling limit holdem.

    I actually withdrew most of my poker bankroll after becoming disillusioned over the entire thing through a losing streak. I was around approximately $2400 starting from $200 and making a few $200/300 withdrawals on the way.
    I moved up from 1/2 to 2/4 (still mini stakes I know) and proceeded to go on a bad run, losing about $1000 (40% drawdown stinks ). I dropped bets again and was able to claw back some of the reduction.
    [That's not an irregular downswing at 2/4 LHE by the way.]
    I withdrew a few of what was left so that I just have $600 in my account right now.

    Now I've learnt a thing or two about pokers I'm back here looking to
    make a go of trading again. (Ironically I get into a conversation of poker)

    Additionally poker is not cool (regrettably ).

    Edit:If you get started playing frequently onnline that I would recommend a bankroll of 500 major stakes for LHE
    50 buy ins for NLHE and somewhere between 50-100 buy ins for tournaments.

    Another edit: I'm gonna start a poker ribbon in the members lounge. I will gather a LHE guide for uber newbs, perhaps we can get a couple of forum games. I know Pokerstars offers tournaments that are private to additional forums, so we'll see.

  7. #27
    Junior Member Clarwitter's Avatar
    6
    Wow you were up by more than 1000%? The practice of being up so high and dropping hard sounds so prevalent in trading. A poker ribbon sounds great, I am sure there are a lot of poker players that are internet here.

    Organizing private tournaments for FF traders is a even better idea!

    Awaiting...

  8. #28
    Junior Member Cesaripks's Avatar
    5
    I would disagree comparing poker to forex.

    1) Cash in poker is created via the resistance with different players at hand - and also in forex - by least resistance, in collaboration with different traders

    2) There is not any stop reduction in poker - you either fold or continue putting cash - in forex, you can lock a profitable place and let it run for days.

    3) You cant bluff in forex - throwing more cash in the trade wont alter the outcome

    4) You can close the place at any time and choose loss/profit.

    Cheers

  9. #29
    Junior Member lmrwdas's Avatar
    1
    I am not knowledgeable enough about Poker to disagree with anything that's being said here, but I believe the Trading/Poker analogy is flawed on at least two counts:

    1. I've watched Poker players move all in on championships on TV. When should a forex trader move all in? (and that I believed Kelly MM was competitive, LOL).

    2. Poker players occasionally overbet a hand. But where is the trading analogy? How does a tiny retail trader bluff the market (or even his br0ker)?

    IMO the sport approach and MM of...
    The discipline needed to wait for your setup is very quite akin to pokersitting and enjoying tight for hours end requires tremendous quantity of patience. I understand a gentleman previously mentioned although you will provide your range away using a match, but ask any poker player and he will tell you its own patience. Read overtrading.

    Another similarity between trading and poker that is just too strong to ignore is money management. Routinely poker players play in games which are too large for their bankrolls, matter of truth in mid to large stakes online poker, 50 buyins is normal (a 100 buyins with a few ppl to reduce ROR). Pick on a poker player, odds are he's undercapitalized for the match he is regularly currently playing. Sound familiar?

    No argument about the blackjack point, very similar to trading too. I believe poker is much more plogically tied to trading (as is money mangement and risk for a whole), whereas, blackjack is similar to orderly trading, but this is only my view.

    Bottom line, the points at which I see similarities between trading and poker are HUGELY accountable for success and failure in both fields.

  10. #30
    You have overlooked one thing. A penny lost spends. Just because you have not shut out a floating place does not mean the money ain't real.

    WRT to number 3. Bluffing is a relatively minor aspect of poker.

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