It depends on what controls your way of trading. I think for most people, it is more about politics and world events and then anticipating how that will affect things. Poker is more similar to just technical trading of any sort.. you just worry about raw numbers and probabilities.
reading faces and tells is ´hollywood´. Anyone at the table who is a strong enough player to deserve to be there is better at hiding tells than other people are at noticing them. Poker is about risk assessment and probability. You could put a shield around the best players, and it wouldn´t change the way they played a hand.
I wouldn't really think that they're the same. There are some similarities in the fact that you take risks and whatnot, but trading has so much more to it that puts it apart from poker such as the fact that it can be predicted, even on a small level. If the EUR has been appreciating relative to the USD for a few weeks, and has been on that general trend for months, then I would expect it to keep going that way when I check back in a month. I just don't really see it being too too similar to poker.
It's a very good comparison, I have to say... and like in poker, you win and at the same time somebody loses (although it's much more complicated in forex), it's still the same - some win, most lose and brokers get their commission.
I did not really think about that comparison until now. That is actually a relatively good comparison given the multiple similarities that are involved.
They both rely on bankroll management to become a success as well as removing emotion from any decisions. Both need to know when to cut their losses and when to invest the max when the market/hand is in their favour. Most of all when it comes to online, they are both at the mercy of Bots!!
Also someone has to lose, usually the person with the least experience knowledge and intuition. In many ways they are very similar as you point out, yes. I think this is a pretty good analogy actually.
Poker pretty much prepares you for anything in the business world. Risk assessment, bankroll management, when to step away, when take take advantage of opportunities. It also prepares you how to think logically and with reason rather than emotion; an obvious advantageous trait for trading. The very little I do know about forex trading, I would absolutely say there are some similarities between the two. You need a different knowledge set for both, but the principles are very similar.
I would say that this is an accurate assessment. I did not really realize how lucrative poker can be. That really explains why so many businessmen and businesswomen are so fond of playing poker.
Trading and gambling are often compared but personally I'd like to think that there's more skill in trading. Gambling also requires a lot of luck, and I think if you are on the ball in trading, it's more down to judgment rather than relying on lady luck to come along.
