Hello, i am wondering if you are using the skills that you have learned of the years from poker in order to trade/invest/gamble on stocks?Do you find similarities between the 2 games? Thank you

For me it has helped, they're very similar. The two things I think help the most and are similar skills are weighing risk and formulating strategy.

Thank you for your input yellow6host.

Yeah don't borrow to gamble in the stock market.

• [X]Volatlity
  [X]Scales Up Better than Poker
  [ ]More skill required to be profitable than poker

Bankroll management.

All else is 3rd or lower.

So, it helps. Maybe there is a stock market strategy that a successful poker player can apply better than an other. What do you think?

Poker and trading are more similar than people think. The skills I've learned are instantly transferable to trading and investing such as self-discipline, BRM, analysis and edge finding (creating and implementing a strategy).

IMO trading/investing requires more skill and has a steeper learning curve. Also, the amount of useful information out there compared to poker is not as readily available. ie. You would be hard pressed to hire a $100/hr coach in trading to make you better like you can in poker.

Just my 2p, I'm fortunate to be very successful in poker and transitioned to trading because of its long term prospects.

No money in stock market, everyone’s solid.

Actually it is easy to be profitable in the markets. Beating the market averages much harder. That is where the skill comes in. Just go long SPY right now and hold it for 10 years probably, certainly 20.

One thing about poker, unless you are staking or coaching, you have to formulate your strategy then you have to sit at the table to implement it. Not so much with markets necessarily, you can even implement your own algorithms. Yes you will oversee trades but to me

It's not easy.

Mentally there is a lot of overlap. Technically it's obvious very different and quite a steep learning curve, but it's not rocket science and if you're able to handle some very basic math/numbers you'll be fine.

One big difference is a slower feedback loop in investing, you make less decisions and quantifying your edge is a slow process. This doesn't apply if you plan on daytrading though.

^^

Almost everyone overestimates their edge.

• bankroll management
• mental fortitude for downswings
• scientific method for validating your play, rather than blind faith "this will work". This is MUCH harder in stock markets where you can't just fire up a Nash calculator validating your push/fold.

you dont have to pay to see your cards!!!

Sure it is. I buy SPY in 6/1/2000 at 145 (before the dot com bubble burst) or so. Today it is 307 or so. I’ve also collected dividends along the way. How much easier does it get? Tell me the 20 year holding period where the stock market hasn’t been higher after 20 years?

Another example, I buy a 30 year treasury in on 6/1/2000 and it is yielding ~5.5%. today 30 years are yielding 1.44%. If you bought one in 2000 you’ve been collecting coupons for 20 years at a rate way above inflation and it is more valuable today than it was 20 years ago. All you did was make one purchase and did nothing else. How much easier does it get?

You are trying to beat the market returns and as I posted that isn’t easy.

The stock market pays a risk premium, that’s an edge.

Actually it isn't. The long end of the treasury yield curve has been in a bull market for nearly 40 years. It started with a change in Fed policy in the early eighties ushering in the era of disinflation when 30 years were yielding 14%. In 2000 the Fed was easily meeting its inflation targets as it still is. It's hard to anticipate yields as low as they are now but expecting yields on the long end to at least be steady when they are 100s of basis points above inflation doesn't take a crystal ball.

I've been a fulltime poker player and then after black friday I started in a finance company as IT. And from what I see there it makes me think these guys should definately play poker for a year. They get crazy about even little downswings of 5-10%. They make a lot of emotional decisions or decesions based on the outcome. If I suck out on someone on the river it doesnt make it a good play.
A good poker player is used to the feeling of loosing money and keeps calm and is confident in his actions. And he makes strategical analytical decisions and is able to estimate if it was good or bad decision regardless of the outcome

agree with this. the biggest transferrable skill is keeping level headed and making rational decisions when things are going your way and when they arent. Problem with most finance professionals is their whole career is a pretty small sample size. guys like us who grew up 8 tabling never had that problem.