Poker

jersey10 · 12 July 2008

Some people comment that good traders can often make good poker players and vice versa. Do you think this is the case? I believe there are common traits crucial to being a good poker player and a good trader. The main one i suppose is not being concerned at whether you are right or wrong but being prepared to act on being right or wrong (i.e. selling at your stop-loss would be akin to folding a decent hand after you have been re-raised??)

One other thing, does anybody from Brisbane know where any poker tournaments are held on a Saturday night, i fancy a game tonight!

2020hindsight · 12 July 2008

hey jersey - ever played poker just two players (two hands of 5) ... ?

reduced pack is as follows :-
one ace
3 kings
3 queens
3 jacks

tip.. whoever gets the ace will lose

jersey10 · 12 July 2008

2020hindsight said:
hey jersey - ever played poker just two players (two hands of 5) ... ?

reduced pack is as follows :-
one ace
3 kings
3 queens
3 jacks

tip.. whoever gets the ace will lose

have played heads up plenty of times but just normal nolimit, haven't played the version you mentioned here, might stitch my mates up with this one in the near future, thanks.

2020hindsight · 12 July 2008

jersey10 said:
have played heads up plenty of times but just normal nolimit, haven't played the version you mentioned here, might stitch my mates up with this one in the near future, thanks.

Lol - I don't play poker for cash ... but used to play backgammon with 3 other blokes for cash once a week ....

One of the blokes was pretty new to the game and'or rash

Not sure how well you know bg, but there is a doubling cube - 2, 4, 8, 16, 32, 64 - and when you turn it prior to your dice roll, your opponent has the option of folding or accepting (and owning the doubling cube and the right to double next).

And by the way, all the stones are out there on the board, so you can both see the odds of winning and/or losing. You usually double when you reckon you have a 70% approx chance of winning.

Lol whenever this new bloke was doubled, he treated it like a game of poker, and "called your bluff", by doubling straight back next chance lol.

Needless to say, he lost the most. Then again he was a lot richer than I was, so it didn't matter a damn to him.

jersey10 · 12 July 2008

2020hindsight said:
Lol - I don't play poker for cash ... but used to play backgammon with 3 other blokes for cash once a week ....

One of the blokes was pretty new to the game and'or rash

Not sure how well you know bg, but there is a doubling cube - 2, 4, 8, 16, 32, 64 - and when you turn it prior to your dice roll, your opponent has the option of folding or accepting (and owning the doubling cube and the right to double next).

And by the way, all the stones are out there on the board, so you can both see the odds of winning and/or losing. You usually double when you reckon you have a 70% approx chance of winning.

Lol whenever this new bloke was doubled, he treated it like a game of poker, and "called your bluff", by doubling straight back next chance lol.

Needless to say, he lost the most. Then again he was a lot richer than I was, so it didn't matter a damn to him.

know nothing about backgammon, but sounds like this guy is like someone i play poker with who just calls with slop and wonders why they lose all the time!

2020hindsight · 12 July 2008

jersey10 said:
know nothing about backgammon, but sounds like this guy is like someone i play poker with who just calls with slop and wonders why they lose all the time!

lol - sounds like his reputation precedes him lol.

Mind you - one day no doubt he'll be able to suck you all into one giant pot yes?

Gonna display my ignorance now - but what is the normal game of poker played in Aus ? tournaments etc ? (my boys play occasionally with their mates, I personally stick to backgammon )

PS I notice this site suggests a "stop" for beginners - so yes I guess it is a bit like trading as well ( not that I personally use stops)

http://www.pokertips.org/rules/rules.php

jersey10 · 12 July 2008

2020hindsight said:
lol - sounds like his reputation precedes him lol.

Mind you - one day no doubt he'll be able to suck you all into one giant pot yes?

Gonna display my ignorance now - but what is the normal game of poker played in Aus ? tournaments etc ? (my boys play occasionally with their mates, I personally stick to backgammon )

PS I notice this site suggests a "stop" for beginners - so yes I guess it is a bit like trading as well ( not that I personally use stops)

http://www.pokertips.org/rules/rules.php

Actually its a she and she probably will sus out how to bluff eventually and give us a good pounding.

I would assume the most popular version of poker being played is Texas No Limit Hold Em which is what you will usually see on TV. Quite a fun game. I have been told it is about 25% luck and 75% skill.

MRC & Co · 13 July 2008

I think the most common similar characteristic is in the calculation of probabilities.

Keeping emotions in check as you stated above also.

The two most important traits.

The markets are like one GIANT game of poker with a lot more randomness.

cuttlefish · 14 January 2009

Some similarities between poker and trading would be:

knowing the odds and playing only when you've got a 'positive expectency'.
Money management (e.g. only raising/calling within your money management criteria, and betting appropriate amounts for the risk/reward).
Analysing the signals that help you read the 'market' (i.e. your opponents)
Bluffing (equivalent to a trader doing props/tests/pump and dump etc.)

Does anyone play poker online - and if so whats a good site? (not looking to play with money, just to play for the fun of it).

kgee · 14 January 2009

Yep I reckon there's huge similarities,
I still wish someone could tell me how in the big tournaments you consistently see the same people make it through to the final table....there's somthing very uncanny about it....surely they aren't that far superior in risk assessment than everyone else?

cuttlefish · 14 January 2009

kgee said:
Yep I reckon there's huge similarities,
I still wish someone could tell me how in the big tournaments you consistently see the same people make it through to the final table....there's somthing very uncanny about it....surely they aren't that far superior in risk assessment than everyone else?

I suspect an intimate knowledge of odds plus a combination of betting strategy, opponent reading, money management and discipline I'd expect.

jersey10 · 14 January 2009

cuttlefish said:
Some similarities between poker and trading would be:

Does anyone play poker online - and if so whats a good site? (not looking to play with money, just to play for the fun of it).

I play too much poker online , but its good fun and is more fun when you can get to the stage where you are breaking even or making money.

I started playing on pokerroom.com about 18 months ago. First 12 months played with play money only and got felt most games i played. The last 6 months i started playing with real money. Put about $20 per week in my account for first 6 or 7 weeks of that and for the last 4 or 5 months have been able to maintain my balance at between $50 and $200 without putting any extra money in my account. Playing mostly $5 or $10 turbo tournaments.

jersey10 · 14 January 2009

cuttlefish said:
I suspect an intimate knowledge of odds plus a combination of betting strategy, opponent reading, money management and discipline I'd expect.

And the balls to put it all on the line when the time is right.

kgee · 14 January 2009

cuttlefish said:
I suspect an intimate knowledge of odds plus a combination of betting strategy, opponent reading, money management and discipline I'd expect.

yeah I was thinking along the lines of intuition...I spose that could be related to opponent reading

theasxgorilla · 15 January 2009

Don't forget the differences. Agility. Poker requires extreme mental agility. With many forms of trading you don't have a lot of time pressure. Even what a lot of people refer to as short term trading can involve activity intervals measured in hours. An online sit and go poker tournament can be over in 15 minutes with 7 players eliminated.

Ashsaege · 15 January 2009

I love Texas holdem no limit! i even have it on my iPhone.

there is an art form to it. You can make big money without having a good hand, and you can really milk it when you do.

Suppose you can compare texas holdem to trading...
The cards you have been dealt could have a high probability of winning so you decide to play - a stock could look good fundamentally or technically or both so you jump on.
if the flop looks good, then you can bet more - stock goes up, increase your position size.
The flop looks bad and you need to call a high bet then you fold - stop loss.
But that style of poker is boring and easy to read.

cuttlefish · 15 January 2009

jersey10 said:
I play too much poker online , but its good fun and is more fun when you can get to the stage where you are breaking even or making money.

I started playing on pokerroom.com about 18 months ago. First 12 months played with play money only and got felt most games i played. The last 6 months i started playing with real money. Put about $20 per week in my account for first 6 or 7 weeks of that and for the last 4 or 5 months have been able to maintain my balance at between $50 and $200 without putting any extra money in my account. Playing mostly $5 or $10 turbo tournaments.

Cheers jersey10 ... I joined up last night - its pretty addictive.

Only played with play money. Had to refill after a few minutes 'cos something weird happened (the log was showing me playing hands but I wasn't pressing any buttons?). Anyway, refilled the play money and ended up losing a couple of hours of time ... doubled my play money though!

I can see this becoming a habit

cuttlefish · 29 January 2009

Well the more I've been playing the more I see it has a lot of similarities to trading. Starting to get the hang of it a bit - money management and playing the odds is key.

Jersey - I copped some pretty severe abuse in the side table chat on pokerroom after winning an all-in hand - have you had anything like this?

Probably an experienced player thinking I donked the river but I did actually deliberately walk it in and figured the out-odds before taking the bet.

But is this sort of abuse common after winning a big pot this way?

It was a bit rattling 'cos it involved a lot of swearing and insults and the bloke kept ranting for quite a few hands afterwards... (He did a full top up and I got that off him a few hands later as well ). But I would have thought they'd have moderators in there to stop that sort of stuff.

I can take a bit of banter and some moderate insults (had a few of those too) but this bloke lost the plot. I guess I'll just have to develop a thick skin.

Have you ever played any tournaments in person as opposed to online?

xyzedarteerf · 29 January 2009

cuttlefish said:
Well the more I've been playing the more I see it has a lot of similarities to trading. Starting to get the hang of it a bit - money management and playing the odds is key.

Jersey - I copped some pretty severe abuse in the side table chat on pokerroom after winning an all-in hand - have you had anything like this?

Probably an experienced player thinking I donked the river but I did actually deliberately walk it in and figured the out-odds before taking the bet.

But is this sort of abuse common after winning a big pot this way?

It was a bit rattling 'cos it involved a lot of swearing and insults and the bloke kept ranting for quite a few hands afterwards... (He did a full top up and I got that off him a few hands later as well ). But I would have thought they'd have moderators in there to stop that sort of stuff.

I can take a bit of banter and some moderate insults (had a few of those too) but this bloke lost the plot. I guess I'll just have to develop a thick skin.

Have you ever played any tournaments in person as opposed to online?

what site are you guys on...i use to be a regular at the WPT Online site use to annoy every one with crazy bets...

xyzedarteerf · 29 January 2009

cuttlefish said:
I can take a bit of banter and some moderate insults (had a few of those too) but this bloke lost the plot. I guess I'll just have to develop a thick skin.

Have you ever played any tournaments in person as opposed to online?

you have to be when playing online.. i use to swear/insult some people out of the table its all good fun..

i have played couple of cash games at the casino...play regularly with family and friends as well.

Poker

jersey10

2020hindsight

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2020hindsight

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2020hindsight

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MRC & Co

cuttlefish

kgee

cuttlefish

jersey10

jersey10

kgee

theasxgorilla

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Ashsaege

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