[coolhandsun]

I'd agree a hundred percent with the relation in skills between trading and poker. I trade for an options market making firm on the west coast. SUSQ actually pulled most of their operation from our floor, but I know a former trader or two from there.

The statement about the "playing poker" with brokers and traders especially rings true. Each trade/quote feels like a hand of poker where neither side wants to expose their holding (order/position). But both sides have small tells. Trying to get the best price or keep an order on your floor fells like eeking out extra big bets. A sense of odds, risk, and value also benefit both very well.

As options trading (and trading in general) goes more electronic, making markets feels a lot like multitabling online poker. Juggling 100+ books involves a fair amount of multi-tasking and staying on top of many situations at a time while avoiding all the possible pitfalls, traps, and mistakes.

Oddly enough, a lot of the guys in my pit play poker during the day. I'm constantly joking on how psyched they are when they pick up a pot, while their being distracted just cost them plenty of opportunities.

I know I hope NYSE goes more electronic. That was def the intention of the merger. Nothing sucks more than having a specialist lean on your stock orders, especially selling short.

Working market hours on the west coast has its ups and downs. I have a hard time going out during the week as I have to be at work by 5:30. But on the flip side I can walk out the door at 1:30 if I want and have 7hrs of daylight. It allowed me to do things like coach a lacrosse team that I never would have been able to do otherwise.

And about exposing your poker to your boss....I actually had "blackjack card counting" on my resume when I applied to my firm out of college.


Gavin