Every trader wants to turn into a professional. Every new trader must learn because there is few other approach to become professional. And at some point every trader actually starts to compare trading to businesses to find some valuable ideas or techniques. Poker is often compared to trading. Many people point out that poker is comparable to trading. I have experience with both fields. And I need to write my personal concerning this question.
Trading is a serious business. And to decide whether it is just like poker or otherwise we must compare trading with poker. What is similar and what is different?
The first and the biggest similarity is always that in poker and in trading our earnings are not guaranteed. It is rather nearly impossible to find money for any beginner. Trading and poker are serious businesses. But many people consider that these lenders can provide them quick money. Many people don't get neither mechanisms nor rules of these areas. I know many individuals who started trading and lose money in a very couple of weeks. I know many people who started playing poker plus lose all the money. They considered that they would become rich in the month or two. And such thoughts will not cause you to be successful trader or player. In this regard poker and trading are incredibly similar.
In trading along with poker we will need to take care of probabilities. But probabilities in poker may be counted. Though your estimation of poker probabilities is founded on insufficient information you'll be able to decide whether your movements are profitable or not. It is difficult but it's possible.
It is more tough to estimate probabilities in trading. You must understand trends and identify trends correctly; you must learn movements in the market. And you don't have any numbers. You can not state that you have as an example 56% to win take advantage current trade. Moreover each trader estimates the market industry differently. One trader can say that economy is good but other trader can state that the same market within the same time is bad for him. And both could be right simply because they can have different trading strategies.
The biggest difference between trading and poker is the fact that if you play poker you take an here absolute amount at the table. You know that if you might have $1000 at the table you will never loose more than this $1000. You can not lose more fat money than you've got at the table. In trading it is possible to lose all of your money during one trade. You need to cut your loses yourself. And it is probably the most difficult thing in trading for many individuals.
The greatest trader of most times Jesse Lauriston Livermore played poker. We can read relating to this fact in “Reminiscences of the Stock Operator” by Edwin Lefevre. Richard Smitten is yet another famous author who wrote about Livermore. Both authors wrote that Jesse Lauriston Livermore liked to learn poker with his friends. And he played poker well.
After scanning this many traders can say: “Hmmm… If Livermore played poker called the greatest trader I should start playing too and will end up being the greatest trader as well”. But as I think there isn't any direct correlation relating to the trading and poker skills.
Poker and trading have similar laws. But it does not necessarily mean that you will be good trader after success in poker or good poker player after success in trading. Yes, these areas resemble nonetheless they require different skills. Anyway an advanced trader you are able to always try to play poker and decide, can it be similar to trading or not. Your own opinion could be more valuable for you.