Forex Trading versus Poker
Forex trading and poker are very different; poker is a card game usually organized in casinos, whereas Forex trading is usually carried out on oneself on a desktop computer at a trading platform. Both are different, but they do both in fact have similar qualities and such.
While poker can be fun, it can also be all down to luck; you can’t decide which cards you get of course and so although there is some skill involved in poker, for example some poker players will bluff their way to gains, there is a lot of chance in poker. Forex trading on the other hand, is a legitimate investment opportunity; you are fully in control of where you put your money. You can also effectively limit the risks that come with this particular type of trading and if you take a real professional approach, work hard and practice a lot, you can make consistent profits in the long run almost guaranteed. With Forex trading, you get much more control and are basically much more able to make profits, provided that you work at it.
Some people participate in poker games for the thrills though and not just for the gains. If you are a poker player or are considering getting into poker, you might think that Forex trading sounds pretty boring in comparison, but it isn’t. The Forex market has only been open to retail traders and investors since the 1990s and it is generally very modern. There are plenty of Forex brokers with powerful trading platforms that have lots of built-in features, many of which allow Forex traders to have a lot of fun and experience a lot of enjoyment. There are also social Forex trading networks, which some brokers run themselves, that allow you to copy the best traders. This allows you, in turn, to make a lot of money while having fun and not having to work too hard. Poker is just a game and always will be the same. Forex trading on the other hand, is evolving and there are so many options, alternatives and possibilities.
Poker players can actually make good Forex traders too, believe it or not. If you are a poker player, you should definitely try your hand at trading currencies. If you’re not doing very well with poker, you might want to try an actually legitimate form of investing. If you’re an experienced poker player though and are making some profits, you really should consider trading currencies, because as a successful poker player, you will actually have traits similar to professional Forex traders.
The following qualities are common among good poker players:
- Fast, strong and accurate decision making skills
- Versatile, dynamic and able to respond to change
- Capable of taking, accepting and managing losses effectively
- Competent when it comes to math
- Solid self-confidence.
There are also many other qualities that poker players and Forex traders share. While you can get rich playing poker, you can also get rich trading Forex. The latter is arguably the better option out of the two. Some of course would disagree, but you just have to think: do you want to invest or do you want to simply gamble with your money?
In conclusion, While Forex trading and poker are quite different, they do share some similar qualities. Forex trading arguably does comes out on top though. If you are looking to get started with one or the other but aren’t completely sure which one you should go with, then Forex trading would again have to arguably be the better option to choose overall. Just remember though, regardless of which opportunity you try, if you just dive in and don’t have any plan or strategy you won’t make any money at all. Always be responsible, regardless of whether you are gambling or investing, unless you’re just looking to have some fun and have some money to blow.
Date Posted: July 1, 2012