From poker to trading. What I have learned.
I have questioned myself many times on the road to becoming a profitable trader. But As a former successful poker player, I understand what I can achieve and what people often say about possibilities.
“It’s impossible to predict the market by drawing lines.” You’ve probably heard that sentence, and so have I, along with various similar sentiments. Just like hearing how poker is about luck. Of course, luck plays a role, but it doesn’t determine what you can accomplish in life.
“Only 1% are making money, while others fail!” Yes, that’s true, but what of it? 1% is significant when it’s not solely about luck. Only 0.08% of high school football players end up as professionals, facing odds more than 10 times weaker, yet people dream about it and work hard to achieve that goal.
When I played poker, it was a challenging job – long days, managing 10 tables simultaneously, grinding away. I learned a lot, but I lacked what it took to move to higher-stakes tables, not because of money but due to the elevated skill levels and different dynamics.
Trading presents a unique challenge; the learning curve is more gradual than in other pursuits. If you start playing the guitar, after five hours, you’ve learned a lot; after a week, you can play most chords and attempt many songs. Trading, however, can feel like playing guitar for two years without visible progress, then suddenly making a breakthrough. There would be quite less guitarists and everybody says that why even try when 99% fails anyway.
Trading isn’t that difficult after all; it’s about knowing which hand to play and, more importantly, learning when to fold, like in poker. We all have the same hands in the long run; the key is minimizing losses when you’re on the losing end and maximizing gains when you win.
Stay calm, be strategic, avoid risky moves, and let less experienced traders influence the market. While it may sound odd, remember that most people are not well-informed. Being in the top 1% is challenging, but reaching the top 5% is achievable. It’s not about watching chart pattern videos on TikTok; read a book and put in the effort, like smart people do.
Regarding that 1%, consider how few people who attempt trading have actually read a book about it. Work smart, not just hard.
One more thing, BTC went down while I was typing this, so it’s late to suggest you should short too. However, maybe it’s not too late because a correction is coming sooner or later. Keep opening short positions with minimal leverage.
“It’s impossible to predict the market by drawing lines.” You’ve probably heard that sentence, and so have I, along with various similar sentiments. Just like hearing how poker is about luck. Of course, luck plays a role, but it doesn’t determine what you can accomplish in life.
“Only 1% are making money, while others fail!” Yes, that’s true, but what of it? 1% is significant when it’s not solely about luck. Only 0.08% of high school football players end up as professionals, facing odds more than 10 times weaker, yet people dream about it and work hard to achieve that goal.
When I played poker, it was a challenging job – long days, managing 10 tables simultaneously, grinding away. I learned a lot, but I lacked what it took to move to higher-stakes tables, not because of money but due to the elevated skill levels and different dynamics.
Trading presents a unique challenge; the learning curve is more gradual than in other pursuits. If you start playing the guitar, after five hours, you’ve learned a lot; after a week, you can play most chords and attempt many songs. Trading, however, can feel like playing guitar for two years without visible progress, then suddenly making a breakthrough. There would be quite less guitarists and everybody says that why even try when 99% fails anyway.
Trading isn’t that difficult after all; it’s about knowing which hand to play and, more importantly, learning when to fold, like in poker. We all have the same hands in the long run; the key is minimizing losses when you’re on the losing end and maximizing gains when you win.
Stay calm, be strategic, avoid risky moves, and let less experienced traders influence the market. While it may sound odd, remember that most people are not well-informed. Being in the top 1% is challenging, but reaching the top 5% is achievable. It’s not about watching chart pattern videos on TikTok; read a book and put in the effort, like smart people do.
Regarding that 1%, consider how few people who attempt trading have actually read a book about it. Work smart, not just hard.
One more thing, BTC went down while I was typing this, so it’s late to suggest you should short too. However, maybe it’s not too late because a correction is coming sooner or later. Keep opening short positions with minimal leverage.
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