I’m not much of a gambler and I find casinos incredible sad for the most part, but you can’t argue the similarities between poker and trading. Below are some of my favorite quotes from this short video that is well worth viewing.
“In investing, you can have a great process and still do badly from time to time.”
“You never ever want to make a bet, unless you are mathematically a favorite.”
“The proper use of the fold, the proper use of knowing when to quit, is maybe the most important skill in poker…and in trading”
“Just because you lose money, doesn’t make it a bad bet.”
“Just because you won a pot, doesn’t necessarily mean you made the right expected value play. Maybe you made a stupid play and got rewarded for it.”
