James Velissaris — Becoming a trader is much like becoming a poker player here’s how

1. James Velissaris — Becoming a trader is much like becoming a poker player: here’s how

2. Making an investment in the stock market is no easy task. Not only does it require you to extensively plan and strategize, but it also requires your full attention and reasoning abilities. Investment has often been compared to an artistic movement that lets people express themselves and keeps them energetic during the day. While it can be a lot of fun, investing in the stock market is very stressful and requires hard work at all times.

3. Investors have to make sure that they understand the market position and the state of a company before making an executive decision while also calculating the risks associated with every investment made. On the other hand, there are poker players who similarly take risks while having to manage money and working under highly stressful conditions. So, here are the amazing similarities between poker playing and investing:

5. Decision-making skills” Many types of research have been conducted in order to find the relationship between poker players and stock market investors. Results suggest that there are various skills that are necessary for playing poker, which incidentally makes one a better investor as well. One such golden skill is the ability to make decisions in haste. Playing poker is not all about luck. Several contributing factors lead to a win, and being able to think on your feet is one of them.This actually applies to stock market investors as well. 

6. They have to judge the market climate, calculate profit and loss, compare it with past prices and make decisions on the fly. Patience The next skill that is found common is, of course, patience! Patience is generally measured, taking into consideration the portfolio turnover of an investor. Being an investor is not just about making quick decisions. Often it is also about simply sitting still and letting the market work out in itself. Those hedge fund investors who hold onto their portfolio’s position longer are more successful at poker and also make higher profits.

7. Risk calculation Another very important skill common in both poker and investment is the ability to avoid the disposition effects. This effect can cause holding on to an investment that will eventually incur a loss for a long period of time while selling winning ones quicker. Those who are well versed in poker do not face such consequences, and they carry over their potential from playing poker to investment.

8. RISK CALCULATION Another very important skill common in both poker and investment is the ability to avoid the disposition effects. This effect can cause holding on to an investment that will eventually incur a loss for a long period of time while selling winning ones quicker. Those who are well versed in poker do not face such consequences, and they carry over their potential from playing poker to investment.

9. Social skills Finally, one skill important in both playing poker and investing in the stock market is the ability to be able to read people. Being able to understand people and read their actions can come in handy. In fact, poker is one of the most important and substantial spaces one can learn this from.

10. With these and more characteristics common in poker and stock market investment, it is safe to say that there remains significant likeness in them. Check out James Velissaris — A Glance at Some Strategy Outlooks for investment for understanding the process better. SOURCE CREDIT : https://medium.com/@jamesvelissaris21/james-velissaris-becoming-a-trader-is-much-like-becoming-a-poker-player-heres-how-3e5cbffeb46e

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