Sunday, January 30, 2011

FOREX trading and poker ? Same same but diffren...

I had some beers (well.. not some.. alot..) with a friend that plays on-line poker very successfully , and we come to talk about the similarities between online FOREX trading and online poker games. I am not a big player myself, and how only tried it a couple of times, I like it, but I always was the first to lose my money. But he explained to me that there are a lot of similarities for a successful poker player and what I am doing. I borrowed some books from him that explains the basic poker calculations for odds. Not ready with then yet, but it is sure interesting to read about poker from that angel.
The basic element of statistic calculation, and only to play (=trade in my case) when I have better possibilities to win then to lose. He told me that he had system to calculate the odds, depending his position on the table. He only played when he felt that he had higher possibility to win than to loose. I realize that I have exactly the same strategy, I only trade when the trend is in my favor, and when I think the  "odds" are to my favor.  This thanks to my fx trading system.

I will write more about this when I have finished the book,. and had a chance to discuss this with my friend once more.

Do any of you have any thoughts about this issue ? I guess that some online fx traders also have tried online poker successfully as there seems to be some basic elements that are the same (or poker players that have been successful in fx trading)

/ Mike


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