Every trader really wants to turned into a professional. Every new trader must learn since there is not one other method to become professional. And ultimately every trader actually starts to compare trading with businesses to discover some valuable ideas or techniques. Poker is usually when compared with trading. Many people say that poker resembles trading. I have experience with both fields. And I want to write my personal relating to this question.
Trading is really a serious business. And to decide whether it is similar to poker or not we have to compare trading with poker. What is similar and what is different?
The first as well as the biggest similarity is that in poker plus trading our income is not guaranteed. It is rather difficult to get money to get a beginner. Trading and poker are serious businesses. But many people consider that these companies can give them quick money. Many people don't get neither mechanisms nor rules of these areas. I know a lot of people who started trading and lose cash in a fortnight. I know a lot of people who started playing poker plus lose all the money. They belief that they will become rich inside a couple of months. And such thoughts won't make you successful trader or player. In this regard poker and trading are extremely similar.
In trading as well as in poker we will need to cope with probabilities. But probabilities in poker may be counted. Though your estimation of poker probabilities will depend on insufficient information you are able to decide whether your actions are profitable you aren't. It is difficult however it is possible.
It is a bit more difficult to estimate probabilities in trading. You must understand trends and identify trends correctly; you must learn movements in the market. And you do not have any numbers. You can not point out that you've as an example 56% to win cash in current trade. Moreover each trader estimates the market differently. One here trader can state that economy is a useful one but other trader can state that the same market in the same time is not good for him. And both could be right simply because they will surely have different trading strategies.
The biggest difference between trading and poker is the fact that if you play poker you take a certain amount at the table. You know that if you've $1000 at the table you will not ever loose more than this $1000. You can not lose more fat money than you've got at the table. In trading you are able to lose your entire money during one trade. You need to cut your loses yourself. And it is one of the most difficult thing in trading for a lot of people.
The greatest trader of times Jesse Lauriston Livermore played poker. We can read about this fact in “Reminiscences of your Stock Operator” by Edwin Lefevre. Richard Smitten is the one other famous author who wrote about Livermore. Both authors wrote that Jesse Lauriston Livermore liked to experience poker with his friends. And he played poker well.
After reading this article many traders can tell: “Hmmm… If Livermore played poker the greatest trader I should start playing too and may get to be the greatest trader as well”. But as I think there isn't any direct correlation involving the trading and poker skills.
Poker and trading have similar laws. But it does not mean that you will be good trader after success in poker or good poker player after success in trading. Yes, these areas offer a similar experience nevertheless they require different skills. Anyway if you're a trader you can always try to experience poker and select, could it be much like trading or otherwise. Your own opinion is often more valuable to suit your needs.