k gonna post something useless
> as i always do
but here are some redard tips that might seem incredible obvious for some and not so much for others.
very basic concepts i learnt from poker that can b applied here
> as i always do
but here are some redard tips that might seem incredible obvious for some and not so much for others.
very basic concepts i learnt from poker that can b applied here
1/ get comfortable losing
drawdowns are inevitable. at some point u need to accept it and move on, or that fear will continuously hunt u every time u play.
i think i dont need to explain what happens when your decision making is being affected by a rollercoaster of emotions
drawdowns are inevitable. at some point u need to accept it and move on, or that fear will continuously hunt u every time u play.
i think i dont need to explain what happens when your decision making is being affected by a rollercoaster of emotions
2/ variance variance variance. like poker trading is simply a game of probabilities, the only thing that you will ever have in control is your risk management.
the more u deattach from the things u cant control the more effective u will become in the things u actually can.
the more u deattach from the things u cant control the more effective u will become in the things u actually can.
3/ sizing
always adjust your sizing accordingly to your probabilities. bet big when very high odds, not so much when they re not.
in poker we call it pot-control and its simply when we are out of position or with a mediocre/bad hand we try to keep the pot as smaller as possible
always adjust your sizing accordingly to your probabilities. bet big when very high odds, not so much when they re not.
in poker we call it pot-control and its simply when we are out of position or with a mediocre/bad hand we try to keep the pot as smaller as possible
as u can see its very similar w trading. minimizing losses is a higher priority than the potential returns. since again, one we are in control, the other one we arent.
4/ doesnt matter how invested you are in a hand, if you have to quit, you have to quit.
in poker we get 2 cards and we potentially have 5 in the table. every single card added in the table is a variable, every new card that shows up will affect our odds for better or worse
in poker we get 2 cards and we potentially have 5 in the table. every single card added in the table is a variable, every new card that shows up will affect our odds for better or worse
doesnt matter how good the cards might have been when we first started playing that given hand, we need to adjust our sizing and decisions based on the new variable.
we could have great odds preflop but if we go to the flop or river and all the cards that show up are highly favouring our opponent range, we dont have those odds anymore or we could b losing
moral of the story > dont marry to your initial setup
no matter how good it looked at first and doesnt matter how much u invested in, adding size to a very likely losing trade will just make it harder to recover.
no matter how good it looked at first and doesnt matter how much u invested in, adding size to a very likely losing trade will just make it harder to recover.
5/ focus on ev.
short term results isnt a good sample to know if your strategy is a winner or a loser one.
you cant determine if your strategy works or not based on 5/10/15 trades. need a bigger sample to create a curve
short term results isnt a good sample to know if your strategy is a winner or a loser one.
you cant determine if your strategy works or not based on 5/10/15 trades. need a bigger sample to create a curve
6/ volume reduces variance
again, similar to above. short term variance can be very hard and isnt reflecting the true probabilities of our strat.
avoiding playing because u are losing will simply make it harder to converge actual returns to expected ones
again, similar to above. short term variance can be very hard and isnt reflecting the true probabilities of our strat.
avoiding playing because u are losing will simply make it harder to converge actual returns to expected ones
7/ mentality is biggest bottleneck to make the jump from avg/good to great.
doesnt matter how skilled you are at your best if you cant control your mentality your equity curve will b pure noise.
in order to make it smooth you need your worst game to not be that bad /dont tilt/
doesnt matter how skilled you are at your best if you cant control your mentality your equity curve will b pure noise.
in order to make it smooth you need your worst game to not be that bad /dont tilt/
8/ have fun, enjoy it, be passionate if possible, money should be a collateral from doing what you like.
focusing purely on money most of the times will make it very likely unsustainable in the longterm.
focusing purely on money most of the times will make it very likely unsustainable in the longterm.
9/ refutate everything and check several times all the decisions u made, the good ones and the bad ones.
blaming others/external factors for an undesired outcome is the easiest way to stagnate improvement.
blaming others/external factors for an undesired outcome is the easiest way to stagnate improvement.
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