During an interview my interviewer mentioned that trading is alot like playing poker. Obviously I entertained the idea at the time, but actually I'm sceptical. What are your views? Are there lessons to be learnt from a game of poker (apart from discipline which we have all heard before)that can be applied to trading?
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Not sure how often you play
Not sure how often you play poker but if you truly understand the game and statistics you should be able to acknowledge the correlation between the two skill sets. Successful poker players and traders work with imperfect information to make calculated decisions to manage risk.
I've actually taught myself,
I've actually taught myself, and practice online. So far I have been surprisingly successful, which is why I am cynical that trading is this easy to get to grips with...thanks for your reply :)
you have to play in the long
you have to play in the long run to determine if you are actually successful or not-there is a lot, A TON I should say to poker theory. Start reading and playing.
I play on pokerstars.com
Not
I was told by a Global Head that poker has nothing to do with trading. I suck at it anyway.
That global head probably
That global head probably wasnt a poker player or familar with the correlations. Duh
"Oh - the ladies ever tell you that you look like a fucking optical illusion?"
yup
Not sure how often you play poker but if you truly understand the game and statistics you should be able to acknowledge the correlation between the two skill sets. Successful poker players and traders work with imperfect information to make calculated decisions to manage risk.
couldn't agree more with junkbondswap
Skill sets
You can not ignore the overlap in the skill sets. However, I would be cautious about putting too much emphasis on poker or gambling in an interview. If you do mention it talk more about your disciplined approach to playing as opposed to the thrill of putting money on the table.
not only that, there is a
not only that, there is a game theory aspect to trading when dealing with illiquid markets. like bringing your bets to a poker table with only 6 major players.
its not just the
its not just the mathematical aspect that is similar. there is also a correlation between the required mental approach.
Patience, conviction and an ability to see the bigger picture all serve a poker player and a trader equally well.