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Old 01-23-2005, 08:02 PM
joop joop is offline
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Join Date: Dec 2004
Posts: 65
Default Re: Anyone Day trading?

Unfortunately, I don't think that being a +EV poker player is a guarantee that you'll make money trading. However, I think the fact that you are beating the game at such a high level would give you a much better chance of becoming a good trader, due to the similarities between the thought processes/psychology of the two activities. Trading and poker are quite similar in a lot of ways, I think there is a thread in this forum discussing just this at the moment. I haven't read the thread as I already know they're similar... I had never played a single hand of poker in November last year when I bought "Zen And The Art Of Poker"; which I bought to help me with my trading. This sparked an interest in the game and after reading a few more books I have been doing well at the lower limits. I can emphatically say that poker is much more straightforward than trading.

In regards to how much you could make trading, you're best referring to my previous post. If you can trade profitably, $100 per contract per day would be a good goal for a novice. Assuming you need $10,000 in your BR per contract you can trade, well, you can do the math. The great thing about trading is it's much more scalable than poker. There's no reason why you can't trade 10 or 20 contracts at once. Obviously you have to work up to this over time, as you would need 100-200k in your BR to trade this number of contracts safely, but $100 per day on 20 contracts is a lot of money. Once you get to this point you may give up daytrading and start look at holding for a longer term, allowing you more free time during the day. You're in a very good position at the moment, you can play poker 2-3hrs a day and teach yourself to trade, take advantage of the opportunity whilst poker is still booming... set yourself up with a sustainable income and give yourself a challenge.
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