Poker has been the most successful casino game, played in various prestigious tournaments, including the Royal1688 Hold ‘Em Poker International Tournament.It is so popular that it has become a profession of very skilled poker players. Who would have thought gambling just for fun would lead off to a rewardingcareer.
Forex trading, on the other hand, has quickly turned into a trend these days. In comparison to poker, trading has also the potential to make much money and can be a lucrative job too. A matter of fact, there are various traits a skilled poker player possessed that are similar to a good forex trader.
Here are some qualities common to both poker players and traders which are the reasons why currency trading can be a perfect alternative occupation for professional poker players.
- Quick and Accurate Decision Making Skills – a good poker player has the ability to think quickly and make a decision for any given situation. In forex, traders need to think fast and decide as the market is very volatile. Just a minute of indecisiveness is a loss of opportunity to earn.
- Discipline – poker game needs methodical approach and strict discipline in order to succeed. Making impulsive moves can cause a big hand loss. Same with traders, they have to practice the discipline to adhere to there analytical strategies to avoid panic in curve ball situation and prevent losses.
- Genius Level Math Skills – Poker and Forex both required great mathematical skills. Poker players are so good in calculating the odds and potential cards in a jiffy while traders have the ability to analyze large amounts of financial data.
- Ability to Manage a Bank Roll – A very important trait both parties must possess for it determines how long you’ll stay in the game and in the trading market. Poker players use betting strategies to maximize income and minimize losses. Traders carefully choose a position and set necessary protections so that their traded currency won’t be exposed to greater risks.
- Sound Mental Health and Emotional Ability – You can’t be in a gambling business if you are suffering from depression. Both poker professionals and seasoned traders have high tolerance of stress and know how to handle big losses. Mental health and emotional well-being are very essential to be able to think clearly, implement the right strategy and make good decisions. Playing or Trading with unstable emotions can just lead to more losses, bankruptcy, depleted account and worst, mental and emotional breakdown.
If you are a professional poker player, you really don’t have to switch job and crossover to trading especially if you’re still enjoying your present career and still earning handsomely. Why not try trading too and enjoy the best of both worlds!
