There are many similarities between speculating in the financial markets and playing poker. Most participants in either or both endeavors would agree that both are equally challenging of one’s discipline and mental acuity. In addition, understanding statistical probabilities as well as knowing who your opponent is when entering the field of battle are essential for victory in the two.
I’ve often heard professional poker players comment on how they love to spot “soft” or “weak” tables as a source of income. This means that the more inexperienced players there are at the table, the easier it will be for the seasoned pro to take their money. It’s really no different in the trading world. Finding the consistent loser or novice trader is how the pros generally generate the bulk of their gains.
There is, however, a skill in knowing who those amateurs are and what behaviors they exhibit to clue you in on their lack of experience. In poker, the individual who shows too much emotion or...
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