hi subliminal ,
my thoughts on your post :
4) I'm not so sure about gleaning info from an opponent in a trade . how do you do that ? the only info you have is on the screen , and that's quite limited , unless you conclude that things such as bid/offer , and their sizes , volume , charts as info about opponents .
in Differences
>> In a trade, the opponents and their numbers are unknown. In a hand of poker, the opponents and their >>numbers are known.
not sure what you mean .
>>A trader may predefine profit target and stop loss. A player will have different losses and profits >>depending on the particular hand. In fact optimal play negates the notion of a stop loss.
yes , but a smart trader will let his profits run subject to it's protection .
leaving the table and folding during a game might be considered risk control .
but a very good post in general .
have you tried online poker ( 5 card stud ) and what is your success.
my thoughts on your post :
4) I'm not so sure about gleaning info from an opponent in a trade . how do you do that ? the only info you have is on the screen , and that's quite limited , unless you conclude that things such as bid/offer , and their sizes , volume , charts as info about opponents .
in Differences
>> In a trade, the opponents and their numbers are unknown. In a hand of poker, the opponents and their >>numbers are known.
not sure what you mean .
>>A trader may predefine profit target and stop loss. A player will have different losses and profits >>depending on the particular hand. In fact optimal play negates the notion of a stop loss.
yes , but a smart trader will let his profits run subject to it's protection .
leaving the table and folding during a game might be considered risk control .
but a very good post in general .
have you tried online poker ( 5 card stud ) and what is your success.
Mr Subliminal
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wisestguy
My ex-girlfriend, sitting behind an opponent, signals the strength of his hand.
Extreme example in a trade
An insider in Goldman Sachs informs me that they're about to unload a huge long position in ABCD.
Extreme example in poker
My ex-girlfriend, sitting behind an opponent, signals the strength of his hand.
Extreme example in a trade
An insider in Goldman Sachs informs me that they're about to unload a huge long position in ABCD.
Simply that in poker I can see, say, 9 other players sitting on the table. In some cases all these 9 players are known to me by name. In a trade, my opponents, and their number, are generally unknown to me.
That's why I said a trader may predefine profit target and stop loss. He also may choose not to. A player, on the other hand, has no idea how the hand will unfold and therefore cannot initially say he will quit the hand with $P profit or $L loss (and play optimally at the same time).
I prefer live play .
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>>Extreme example in a trade
>>An insider in Goldman Sachs informs me that they're about to unload a huge long position in ABCD.
is this a good or a bad thing ? you could be set up to take a bum tip .
also , most smaller traders like the folk here will not have access to such info.
>>I prefer live play .
so do I , but finding a suitable group can be difficult.
a few years back we played quite regular , the group I was with took it seriously in terms of playing and their egos , in the sense that poker was not just to win $ for them but to prove how macho they were.
me , I didn't really care 1 way or the other , of course I play to win , but I have no ego attachment to the game . if I won , great , if I lost , that's the way it goes sometimes.
as always " fate " rewards the noncahlent and I promptly won 70% of of outings following simple common sense rules .
one of the group ,a fat guy started getting stroopy and pissed becuase he was losing a lot , and that promptly ended the gatherings. you know the type .
that's why I ask about online.
>>An insider in Goldman Sachs informs me that they're about to unload a huge long position in ABCD.
is this a good or a bad thing ? you could be set up to take a bum tip .
also , most smaller traders like the folk here will not have access to such info.
>>I prefer live play .
so do I , but finding a suitable group can be difficult.
a few years back we played quite regular , the group I was with took it seriously in terms of playing and their egos , in the sense that poker was not just to win $ for them but to prove how macho they were.
me , I didn't really care 1 way or the other , of course I play to win , but I have no ego attachment to the game . if I won , great , if I lost , that's the way it goes sometimes.
as always " fate " rewards the noncahlent and I promptly won 70% of of outings following simple common sense rules .
one of the group ,a fat guy started getting stroopy and pissed becuase he was losing a lot , and that promptly ended the gatherings. you know the type .
that's why I ask about online.
Mr Subliminal
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I live in Las Vegas and can understand your plight. Without making any judgments, all I can say is don't play online if you're not 100% comfortable with it.
I'm definately in the "amateur" trader category, which is fair, since I opened my first online trading account in August of this year.
One comment that I have regarding trading vs. gambling in a casino is that I always chuckle when people express the view that investing in the stock market is like gambling. My problem with this statement is that casino games are generally set-up in a manner that you are likely to break even or lose, and that betting is generally an "all or nothing" proposition - if you are wrong, you lose everything you have bet, if you are correct, you see a gain on your bet.
The stock market is generally very different, in that if you are wrong, you will lose money. However, it is quite unlikely that you will lose all of the money that you are "betting" on a stock in one go, not to mention that you can increase your odds of success through things like diversification and research (both fundamental and technical analysis). With trading your potential for gains is enormous, assuming that you find a methodology that works well for you, whereas a casino will generally quickly show you the door if you are winning too much.
One comment that I have regarding trading vs. gambling in a casino is that I always chuckle when people express the view that investing in the stock market is like gambling. My problem with this statement is that casino games are generally set-up in a manner that you are likely to break even or lose, and that betting is generally an "all or nothing" proposition - if you are wrong, you lose everything you have bet, if you are correct, you see a gain on your bet.
The stock market is generally very different, in that if you are wrong, you will lose money. However, it is quite unlikely that you will lose all of the money that you are "betting" on a stock in one go, not to mention that you can increase your odds of success through things like diversification and research (both fundamental and technical analysis). With trading your potential for gains is enormous, assuming that you find a methodology that works well for you, whereas a casino will generally quickly show you the door if you are winning too much.
DeltaGuy
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I think that the important distinction to make is that the house has a probability of success of around 52% and the player 48% on each spin o the wheel in roulette and other games of fixed chance provided by the casino. The professional gambler needs to become the house and play from the 52% side in games of varying chance such as blackjack and poker. He/she needs to determine when the probabilities have shifted in his/her direction and then up the stakes.
The trader needs to do the same thing. The trader needs an edge and the ability to apply that edge time and time again and then it just become a numbers game like any business. The more you trader with your edge the more you'll make. A bit like a shop selling a can of beans at a 10% mark up. They are just trying to sell as many cans of beans as possible.
The trader needs to do the same thing. The trader needs an edge and the ability to apply that edge time and time again and then it just become a numbers game like any business. The more you trader with your edge the more you'll make. A bit like a shop selling a can of beans at a 10% mark up. They are just trying to sell as many cans of beans as possible.
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