Do online day traders and poker players have anything in common? Yes! There are certainly areas in which online day trading and poker playing are similar. If you are a good poker player, you will probably be a good intraday trader.
To be good at online day trading, a trader must be able to read the markets, and use past price action and other indicators to predict future market movements and determine the positions they want to take. Similarly a poker player uses the cards and knowledge of other players to determine their action. Neither of these abilities is easy, it requires skill, knowledge and experience.
There is lots of money to be made in remote day trading and poker playing. However, both the trader and the player understand the risks involved. They are willing to make an investment in order to reap rewards. The key is managing their risk and knowing how to minimize losses and when to get out. They know they must protect their investment capital in order to continue trading or playing.
The profitable day trader and successful poker player also know how to maintain emotional distance and mental discipline in their activities. If they lose money they know how to approach the next trade or next hand without berating themselves. They understand that any "Dang I suck!" thoughts can lead to them losing more in the next trade or hand.
Now that online poker playing houses have been closed, perhaps it's time to try online day trading. If you are a successful poker player, you may be closer to success in trading the intraday markets than you think.
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