Thread by @abidsensibull

Two of my biggest passions have been #poker and #trading. Trading was my first job since 2009. The less known fact - I played poker 500+ nights. There are many similarities between the two. Here is a thread about the parallels to help your trading and poker

A thread🧵

1. Keep folding cards. Do not play average cards for too much money. Card selection is everything. Especially true if you are a beginner.

Similarly, in trading, do not do many trades. Be selective. Trade only when you have a good trade idea with many strong reasons

2. Connected to point 1. Be patient. Wait for the right opportunity. Some of the world's best poker players play may be 3% of the cards they get. Some of the best trades I know trade may be 3 or 4 trades in a month. Look at 50 ideas, shortlist 10, and trade may be 2

3. Be aggressive when you get good cards. There is no point playing half hearted when you get good cards. Do not be afraid to make a big bet on a big cards, and to lose it all.

Playing many average cards with small bets is a losing strategy in the long run

4. Be observant. When you are not playing, observe what others do. Pay attention to the table. Learn as much as you can about your opponents even when you do not play.

In trading, even when you do not have trades, analyse, learn, and think of your next big idea

5. Stack size - that is how many chips you have matters. Players with a lot of chips can stay alive, take risks, lose some, and win big - like big accounts in trading.

Do not play poker without many chips. In trading, if you have small capital, think of growing it before trading

6. Think in terms of risk-reward. It is okay to risk 5000 rupees for a 30,000 reward. It is not okay to risk 1000 Rupees for 200. Most beginners think in terms of the absolute reward and not risk-reward.

7. Decide how much money to risk. I can play a 10k buyin event. May be 25k. At 1 L, my lower middle class upbringing might get me nervous:)

Trade with bet sizes you are comfortable with. If you are learning with a small account, stick to small trades that don't affect you

8. Finally, this stuff is addictive. Do not be obsessed with trading/ poker. I know many who live in Goa playing poker like Zombies. You do not want to be that.

Your primary purpose in life is to have beautiful experiences for you and loved ones. Always remember that.

The end