I have lurked these boards for years reading these threads and enjoying the content. I decided that it was time to pay a little forward.
I work for one of the few true legitimate proprietary trading firms left in the world (Dodd Frank killed our business as well) but I am a fully funded trader. That means I do not put up any of my own money and I get a percentage of the profits I make trading the firms money. Similiar to stalking in poker.

I made a little video that some of you may enjoy.


https://youtu.be/fHWI2BdhGck

The main similarity between trading and poker is that the vast majority of people who think they're good at it are actually terrible at it.

strict bankroll management

LOL very true I have always been fascinated by the psychology behind that.

100% agree and TRUE I actually use Kelly Criterion for my trading management as you know it gambling based.

This.

Juk

The vast majority of people would do well to take heed of this advice.


Juk

This guy is promoting his training site?

Do you see my name or site anywhere?

I am promoting Poker players to consider Trading using the same PROCESS they play poker with.

Information
Context
+EV Decisions


Ask me whatever you wish for free

Yes, it's on your video. You claim to be the "world's top trading educator". From your site:
lol

Lock thread, ban OP. Not that he's going to have any success, just on principle.

I believe it's your opinion that there's no edge in trading. You're very wrong, although you're right for most.

You should be a bitcoin multimillionaire anyway, so it doesn't matter for you. Congratulations on that by the way.

It's guys like you that are the reason why I have not posted any trading information for many years in these is forums. Do you really think after being a member of this site since 2009 and not posting anything I really care that much?. I made the video for the reasons I outlined .. to help maybe open some peoples minds.

I did not post my social media links or anything just a youtube video. One day soon poker will die completely or at least be such a low wage McDonald's dishwasher will pay better.

People need options and Trading is a very good option for poker players but not if they keep looking at it the way the retail space is promoting it to them.



Good day sir

You link to your (paid) site on your video. If you made the video to "open people's minds", why did you link to your (paid) site in your video description?
This is just horrendous advice. The vast majority of people who who win at poker will lose a fortune trading. It's a lot harder than poker and there's a longer learning curve and it requires skills that don't overlap with poker. To win at poker you need to be smarter and more knowledgable than the average of a 5 idiots at your table. The bar for trading is a lot higher than this.

Most poker players are far far better off getting a job than trying their hand at trading, both financially and in life outcomes.

Your correct I should not have put a link to my site on that video it was just a habit and I can take it off.

You are completely incorrect about trading being harder than poker though I became a profitable Trader far faster and sooner than a profitable poker player at least online. That being said there are times when trading becomes very hard and that can last for a long time but that is a function of Volatility but it always returns. Poker, on the other hand, has been declining income that we all know will never return because access to good education is getting easier and cheaper every day.

Why would you take it off? Your purpose is to promote your site.

And if you could beat trading for any amount worth learning, why would you be teaching it? Trading scales unlike poker. Do you hate money?

A golden rule of trading is to avoid anyone selling trading systems or advice.

I do believe that some people like teaching.

I know I do - I like explaining things and helping people be successful. I teach high school and even when I played poker full-time I still spent a lot of time teaching and explaining things to others.

That said, I can see how teaching poker and teaching trading can be quite different in the scaling sense. Still - I know there is intrinsic satisfaction associated with helping others.

truth.

The similarities are simply with both right now...there's a lot more easier money to be made "teaching trading/poker" than there is to be actually trading". Hence, the OP.

If you knew anything about trading you would know that it is not a consistent income stream and I made a video showing the data and facts on this a long time ago.

https://www.youtube.com/watch?v=r6S36OR1UyY&t=16s

All professional traders get a "salary" plus bonuses why do you think hedge funds have a 2% flat management fee and a 20% bonus structure? Because all traders need regular income source to survive the slow times and more importantly to take the stress out of having to perform every day. When your mind is not worried about the money you can trade a lot better.

I teach for the steady money it brings in while waiting for volatility to return.

How many actual jobs are out there with a real salary? The competition to get into any trading role at a firm with capital is tough.

From what it looks like to me you are saying that anyone can open up a Scottrade and become a profitable trader which I would disagree with.

Also related, the 2/20 model is the high end of the market right now and only to top funds can charge that to their investors - to get into a fund like this you better come from a top school with top banking experience or have some other crazy good connections/ideas. From my experience hedge funds are now charging lower management fees and use a hurdle to determine how much the PM/analysts make (ex. get paid on your outperformance in regards to a specific index vs. making a ton when the market goes up 20% anyways).

I would be willing to bet with a high degree of certainty that the OP is the same guy who started this thread

https://forumserver.twoplustwo.com/3...hlight=profile

I only watched about a minute of the new video but recognized the voice from stuff moneyfornothing his alter ego posted a couple of years ago. He was sniffing around for coaching candidates then just as he is now.

Absolutely right there are very few jobs available right now as Dodd-Frank regulations shut down most of the Prop Firms.

I am not saying it is EASY but if your a successful poker players and you have a bankroll and the game is dying for you then start now and learn to trade by just staring at 1 min charts for hours and follow all the news data.

Look at Price movement like a Villian is he strong today and aggressive or is he Weak and aggressive

Is he Strong and passive or weak and passive

or is he just Random

It will take at least a year of just staring at charts with a Poker mindset but you will see ways to EXPLOIT different markets

Exactly the same as you do Villians

This is the whole reason I started this thread just to give poker player a different but effective way of looking at trading. listen and profit if you like and ask questions I am not asking for anything here

Probably the biggest similarity in poker and trading is that all the veterans never shut up about how it was back in the day. Increase in computing power and information being so accessible on the internet changed everything.

You can't compete in poker with out Flopzilla, ICMizer, Piosolver etc, and people are applying the same techniques in trading. Everything is becoming more efficient.

Haha, wow. A+ thread, that one is.

TS went pretty damn hard on (OP?) whoever that guy was. Makes me feel like I've gotten it easy

Yeah, but where are the customers' yachts?

Juk

I don't believe that there is no edge, just that for the vast majority there isn't and unless you can actually explain what your edge is; you're pretty much destined to lose your money... Being an "ex-winning poker player" and being "good at money management" are not edges...

-----

To anybody who'll listen, then I suggest reading this book:

Trading and Exchanges: Market Microstructure for Practitioners

The price of the book is tiny compared to what you stand to lose, and even though it's a bit old (refers to Bernard Madoff's firm several times!) it's definitely worth your time (read the amazon/goodreads reviews if you don't believe me).

Juk