The Things Poker Teaches
... food for thought in life and trading
Traders often talk about the similarities between Poker and Trading, drawing parallels to help both new and experienced traders grasp key concepts and cement best practices.
One of my favorite articles on this topic was written by David Mamet where he uses Poker as a metaphor for life.
If the axiom you are acting under is not designed to make you money, you may discover that your real objective at the game is something else: you may be trying to prove yourself beloved of God. You then must ask yourself if - financially and emotionally - you can afford the potential rejection. For the first will certainly, and the second will most probably, ensue.
Both Poker and Trading involve making decisions with incomplete information under uncertainty. To do this, we must be able to hone a probabilistic mindset in a framework of emotional discipline and risk management.
Moreover, we have to be ruthless in accepting responsibility for our actions, nurturing a healthy obsession towards capital preservation and the pursuit of superior risk-adjusted returns.
Poker reveals to the frank observer something else of import - it will teach him about his own nature. Many bad players do not improve because they cannot bear self-knowledge.
The full article can be found here > ABOUT MEN; The Things Poker Teaches.
Disclaimer
This Substack is not an alert or trade signal service and does not offer investment advice. You and only you are responsible for the trades or investment decisions you make. Authors are not registered investment or commodity advisors, brokers or dealers. Please do your own research.