Trading and Poker find ten differences

Trading and Poker: find ten differences

Between those who make money in the Forex market and those who spend their working days at the poker tables online, at closer inspection it turns out to be quite a lot in common. Analytical skills, intuition, the ability to control himself and to measure statistical parameters – and he and the other set of qualities required for the player of forex, and professional poker player. Of course, there are differences. For example, the game of poker is allowed only "hand": Is strictly forbidden to play robots. But automated trading – a very common tool for trading in Forex, because to write or order under its strategy trading robot means to rid themselves of a variety of problems, including psychological.

So what is it that like forex and poker?

The correlation between playing poker and trade currency pairs – is quite logical. Forex trading involves high risk and does require special training. Other success factors – knowledge, experience and emotional control – all this is very similar to a “Go Bag” poker player.

Rules of the game

In poker, we
choose between certain games:
whether it is Texas Hold’em, Omaha
or another species. In trade
Forex we choose between currency
pairs. All of the major pairs are tied to
The US dollar, and each has its own style
and individuality, so each
of them have to adapt to
get a psychological advantage.

players

On forex, we
We compete with other traders,
large hedge funds and large
Global banks – they all have
strong capital and experience. In this way,
we must carefully choose their
position and play the most carefully.
There are a trading psychology recognized
patterns of behavior, and all of them should be studied,
to try to anticipate the other steps
traders. Exactly the same thing, but
more pronounced – in poker. Our
task – to figure out what a person is going
do.

Platform

Currency market
– the largest and most liquid in the world:
It draws on a daily basis for more than 4
trillions of dollars. There is no such
major players, someone one could "break open" market, but global events
can influence the market and change the position
in the expected direction. In poker, a lot
more important factor banal luck –
We got exactly the card that
gets, and we operate only by them.
However, and in Forex success it is very necessary,
and you catch it by the tail, if you read
all about money management principles
tools and be able to calculate statistics
the likelihood of its success. As in
poker, you are bound to be losses,
but sooner or later they will become
less.

Constant
practice

As is the case with
online poker, you have to deal with
trading bounds successively
and constantly, always in accordance with its
pre-developed trading plan.
First you have to learn all the procedures
and understand all the basic stuff, doing
playing the demo version. Similarly, in
Poker: first comes online game
virtual money, and only when you
You feel that they are ready to “come in large
world “, throws you into your account money
real.

Most
Forex brokers offer system
free demo version where you can
get acquainted with the market, choose your
currency pairs – in other words, to grow roots.

Analyze
this

Technical
Analysis in Forex will be your main
tool, which with the help of graphs
will assess whether the right to
direction you are moving, or missing
their currencies. Many believe that the movement
market is fully subject to chance,
but traders rely on technical
analysis to understand the boundaries when it
comes to choosing the entry and exit points
On the market.

In addition, markets
and provide data for fundamental
analysis, according to which merchants
We must interpret the data and make
decisions about where moves
market.

analytical
skills, the ability to quickly assess
probability and intuitive repeat
successful strategy – you do not find that the
it all too similar to online poker?

emotional
stability

Currency trading
– only the business process that
It should be deprived of absolutely all
emotions. We must follow their gradual
I plan to block all their movements
aside logical process undermining
decision-making and, in general, think only
the coldest in the world head. Not
Is it true poker players gentlemen, it sounds
very familiar?

high income
– high risk

Do not enter
misconception in forex trading have
risk. Among the newcomers are very high
the failure rate because they
impatient or lack
experience in order to survive – let alone
more – to flourish. Exactly so
same is the case with poker players.

successful trading
– it’s not about passion and not about luck (equal
as well as a successful poker game). It’s about
game about the differences and iron
self-discipline, just as in
poker.

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