What can forex traders learn from a poker player?

Asked By: Marvin Wyman
Date created: Wed, May 5, 2021 1:00 AM
Best answers

3 Things Forex Traders Can Learn from Poker Players

  • Money management. In the game of poker, a player tries to increase his bank roll by making calculated bets based on the hand he's dealt…
  • Knowing who you're up against. A professional poker player's strategy will depend a lot on who he's up against…
  • Controlling emotions.
Answered By: Max Dach
Date created: Thu, May 6, 2021 3:03 AM

Top 10 forex trading tips and tricks - 7 years in the markets

Top 10 forex trading tips and tricks - 7 years in the markets
A player has to learn to count! Forex market and a poker game have a lot in common: money management and risk management, mathematical analysis, psychology, competitors. A Poker teaches to use good tactics, in combination with situational analysis. Trading at Forex teaches you to use semi-automatic analysis, long-term strategies and to cope ...
Answered By: Florencio VonRueden
Date created: Fri, May 7, 2021 5:06 AM
In forex trading, you also have to know when the odds are tilted in your favor, when to add to your position, when to cut your losses, and when to stay on the sidelines. 2. Knowing who you’re up against. A professional poker player’s strategy will depend a lot on who he’s up against.
Answered By: Lila Pollich
Date created: Sat, May 8, 2021 1:31 AM
So, the first thing we can learn from poker players is that we need some type of strategy or edge that gives us a positive expectancy over a series of hands / trades. For a trader, and more specifically for me and my students, this means we use price action trading strategies to find entries into the market that give us a better than random expectancy in the market.
Answered By: Antone Jacobi
Date created: Sat, May 8, 2021 1:29 PM
3 Things Forex Traders Can Learn from Poker Players If you understand bankroll management, setting win loss limits to grind, can calculate pot odds, bet strong when the odds are in your favor and get in cheap when they are not, and out fast to minimize losses... and trust your gut
Answered By: Vincenza Kreiger
Date created: Sat, May 8, 2021 3:27 PM
Mar 8, 2016 - If you observe a poker game you would realise that there are plenty similarities in poker and trading. One can actually learn a lot from poker players about the trading world. It is a well-known fact that most of the best candidates for trading jobs at Wall Street are professional poker players.
Answered By: Suzanne Donnelly
Date created: Sun, May 9, 2021 4:05 PM
There is a multitude of lessons that traders can learn from professional poker players, since both involve similar characteristics of incentive, risk taking, strategy, probability, emotions, psychology, and mental discipline. Success is determined not so much as which strategy but the determination and discipline by the trader to carry out the plan.
Answered By: Florence Homenick
Date created: Sun, May 9, 2021 8:19 PM
Artificial Intelligence (AI) continues to advance in many fields including smart phones, self-driving vehicles, and even poker. And the latter offers valuable lessons for traders.
Answered By: Abby Ondricka
Date created: Mon, May 10, 2021 7:21 PM
It's a fact that many of the worlds top traders are either good poker players or came from playing poker to Forex and the reason they are so good at Forex trading is the skills of poker are very applicable to trading and there is much you can learn... It's a fact that poker players tend to make far better traders than geeks or nerds and that's because, they see Forex for what it really is - a high stakes game where simple systems applied with discipline, are more robust than complicated ones.
Answered By: Percy Greenfelder
Date created: Tue, May 11, 2021 5:21 AM
The poker player knows that poker is an odds game and the same is true in Forex - You can never tell with certainty, what is going to happen next but if you play the odds you can win. Now let's move to the main reason most Forex traders lose and why the poker player, never makes the same mistake.
Answered By: Dayana Welch
Date created: Tue, May 11, 2021 11:35 PM
Rather than characterizing sitting idly by, poker players learn what is, basically, deliberate non-action. Because you never know when a favorable betting opportunity will occur, you must be mentally alert and ready for action at all times—even though not taking action is an integral part of the game and essential to your long-range goal of making money.
Answered By: Nico Orn
Date created: Wed, May 12, 2021 11:29 AM
FAQ
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10 Quick Poker Strategy Tips

  • Play Fewer Hands And Play Them Aggressively.
  • Don't Be The First Player To Limp.
  • “Semi-Bluff” Aggressively with Your Draws.
  • Fast-Play Your Strong Hands to Build the Pot and Make More Money.
  • Defend Your Big Blind (with the Right Hands)
  • Fold When You're Unsure.
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12 Steps to Becoming a Professional Poker Player

  1. Research and Understand the Game. If you want to know how to become a professional poker player, you need to understand the games you're playing…
  2. Know the Rules…
  3. Practice Makes Perfect…
  4. Only Play Winning Hands…
  5. Learn How and When to Bluff…
  6. Stay Alert…
  7. Manage your Bankroll…
  8. Choose the Right Games.
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7 Poker Tournament Tips for Running Deep More Often

  1. Poker Tournament Tip 1: Steal a Lot, But Don't Go Overboard.
  2. Tip 2: Defend Your Big Blind A Lot.
  3. Tip 3: Be Wary of 4-Bet Shoves When 25-40BBs Deep.
  4. Tip 4: Deep Stacks? 3-Bet Like It's a Cash Game.
  5. Tip 5: Don't Continuation Bet Every Hand.
  6. Tip 6: Have a Plan for Future Streets.
  7. Tip 7: Learn How to Play Heads-Up.
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You can play poker online for real money in the United States as long as you're outside of banned online gambling states like Washington. If you're looking for where to play online poker from the USA, or which casino sites accept US players, check out the poker websites above.
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How to Make $1000 a Month Playing Online Poker

  1. Play Low Stakes Cash Games (The Micros) 99% of my experience in poker is in low stakes cash games online, the micros…
  2. Play at Least NL10, Probably NL25…
  3. Play a Tight and Aggressive Strategy…
  4. Find the Tables With the Fish on Them…
  5. Try Playing Tournaments or Sit and Gos.

5 best resources for beginner traders | 200 day moving average strategy

5 best resources for beginner traders | 200 day moving average strategy
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