Seems like if you ever get audited, you'll have to explain where that money for investment came from in the first place?

First thing is, trading is not poker. Its different, the rules and regulations are different, the powerbrokers are different, the changes in mood depending on the circumstances is different, and most importantly, the skills, although it involves clicking and putting money on the line, are really really different.

If you think you can just transfer profession because you're good at poker, have money, and convince yourself that you're a smart guy, you're out for a rude shock. You need to know the game inside and out, work out where your edge is, see it, and exploit it. You need to feel it. You need to feel the markets like a human heart, you need to learn how to read its 'chart', how to feel its pulse, everything. This requires a solid understanding of all aspects from the ground up. Anything short puts you at the mercy of probability.

Good luck, but if you're reasoning is 'i think this is better than poker because its a little more mainstream/social so i should try it', then you're in for some brutality with how much intuition that you'll be required to build to even get to breakeven. To phrase another way, would you be able to write your own pokertracker, if thats what it meant to be a poker success?

Good post. It takes years to become a good trader, just like it does to become a good poker player. Also, there are thousands upon thousands of more variables in trading than in poker. Imagine if you were playing poker and on the river came some card with a star on it and you had no idea what it meant, and were not sure whether your opponent had this knowledge either.

Hi Insyder

i am currently a daytrader full time...it's difficult at best to make a days pay unless you have a ton of knowledge about charts, candlesticks, Point & Figure charting etc. Here's my web site www.buyitbuyitsellitsellit.com

We trade in real time in a live voice and text trading room on www.Paltalk.com..if you would like to drop by and that goes for anyone else drop me a line thru e-mail to jerryo34@verizon.net

Tell you what, i'll teach you my way to scalp trade each day, and you teach me to get a whole lot better at Poker<vbg>

regards

Jerry Olson

Just lie?
I said im independent, having my own programming firm.

they didnt ask further

Man,

the problem starts when cashing out. If i withdrew 30k to my bank account that would be weird for a student.

Going to a bank and bringing 30k in cash (which would be easily done because we can cash out via neteller master card 850euro/day and just collect for few months) is not simple because they will check what your occupation is too. You would have to provide proof that you actually have a job or a firm that is showing such profit.

When I was in Malta and wanted to open a bank account at HSBC, the guy went like "you are a poker player? we need proof from the German Government that you actually are one". He told me that if I came to his office with 1 mil in cash they wouldn't let me deposit it because everyone is so scared about illegal money.

This. I traded stocks at a prop for a year and then by myself for over an year and ended up getting in debt. Played poker to get rid of the majority of my debt. It's extremely hard to become profitable. There are literally 1000's of different methodologies to choose from and it's all a matter a finding out what works for you. As a matter a fact, I knew this trader at my prop firm that traded stocks for the first hour only and was done for the day. He makes well over 200K/yr. This other prop trader from the same firm held stocks for no more than a minute or two (scalper) and did tons of shares. There so many more methods... you can check 'em out in the web.

I am talking about scalping

you need a good bank

I cashed out huge sums without probs(germany and austria but more so in austria so i could be off a bit)

Like i said i can teach you...I have many traders in and around the world that trade with me each day without problems...usually 30-40 or so each day, and 150 newsletter people for long term swing trades...

you would open an acct here in the USA wire the funds in...and download a platform we all use that is very fast..for entries and exits, i can help you learn how to use it in one week..in fact there was a super good trader from Germany that i can hook you up with for verification of who i am...

but this takes some learning from all sides of the equation...to do this right...just do not give up your day job......

i can get you a 30 day free trial to Esignal.com for your charts and quotes, but we only trade US stocks, ETF's and options and futures...we never trade Forex...

just drop by the trading room on http://www.jogtrader.com/paltalksetup.html

and listen in for a week or so...no charge, and if you send me your e-mail to mine i'll hook you up with my daily newsletter updates..

you'll need to begin to understand the dynamics of the markets...there's a ton of information flow that has to be understood and digested..even intraday news items can move a stock quickly in either direction...

you obviously have the skills to do anything if you're good at poker...

up to you...

best regards

jerry