If you are into trading and you buy stocks, then you should know that the skills and personality traits you require to master resemble the skills and traits you need in a game of poker. Statistically, people who play live or online poker game have a good success rate when they invest in stocks.
There are a number of similarities between when you play a game of poker and when you invest your funds into stocks. A poker player knows how to efficiently make use of his funds. If you know how to utilize your funds and double them, then you should invest in stocks.
Through trading, you aim to double your funds, and through poker, the aim is the same. There are a lot of things that you need to hone your poker skills, and if you exercise poker daily, you will become good at those skills. Once you become good at it, trading would be a child’s play for you. Here are a few things that you would need in order to trade, and these things develop once you play poker.
You need to observe the market daily if you are diving into trading, and observational skills are developed on a very large scale after you have played poker for a long time. You need to observe even the tiniest of the details even in an online poker game, the timings, the tells, and everything requires observation. After you start playing poker, you understand the role of observation, and you automatically learn it as you progress in the game. And after you have honed this skill, trading becomes easy.
It is one of those virtues that comes in handy in most situations. While you learn to be patient when you play poker, the skill can be utilized in trading. Spending your funds in buying a certain stock and then waiting for it to rise requires a lot of patience, and a lot of people would give up and sell their stocks in no time. On the other hand, people who hold their stock with patience get the best results.
Just like poker, a lot of people consider trading to be based on luck. Good poker players know that poker is a game of skills, and the same goes with trading; it is not luck but skills. If you possess certain skills to excel in trading, then you will certainly excel in trading.
Above mentioned things help you to become good at trading, and those things develop when you play poker. Another thing is having control over one’s emotions. Downloading the poker app will teach you these attributes, and you will become good at it.