Being successful in the stock market requires skill and strategy, just like playing poker game and being consistent at winning. These both have a lot in common- can have lucrative opportunities if played well and if not, it can also lead you towards bankruptcy. In both the fields, knowing when to call or fold is essential. So let’s delve into the similarities as looked into by Poker Indian Group:
Steve Pomeranz stated that a good poker player always has a solid strategy even before the game starts. He has been in the investment business since 1981 as an esteemed Certified Financial Planner, so his advice is definitely worth taking of. For trading and poker, you shouldn’t be impulsive as the stakes can involve large sums of cash. So to achieve your objective, you need to maintain your composure.
Emotions can be the downfall of poker players as well as traders. Ambition, frustration and impatience are the root of impulsiveness and people who take high risks end up with huge losses or lower returns. It is true whether it’s going all in during the poker game or buying rising stocks too soon.
Stock market trading and poker have a lot to do with numbers. in poker, your mind must run through all the possibilities quickly as each card gets dealt. While in trading, you need to assess the probabilities of the stocks that are trending upwards. You need to do a complete research to make an informed decision when it comes to your trades.
The best thing about trading and poker is that if you play it smart, you can influence the outcome of the situation. Business Insider has pointed out that the chips you throw in during the game is an indication of your confidence. It is also applicable to trading as stocks you buy or sell can cause ripples in the market especially if done in large volumes.
Observe the pros and find out what they do to bring their game on point. Try to play with the same competitors as long as possible. In this way you can notice their hand gestures and facial expressions that can signal what kind of cards they have. The same thing goes with the traders. Buying stocks even when the stock prices of a company are going up, it is an indicator of investor’s confidence. You can use these signs to assess if the stock is overvalued or undervalued. However, paying attention to the most actively traded stocks can allow you to predict market sentiments.
Follow Poker News India to know more about Poker and stock market.