Re: Difference Between Poker and the Stock Market
I hate all the CAPS in this THREAD. ffs
Also, equities are for pussies.
The main reason people lose (and the reason it's different from poker) is because there's no way to practice. Any simulated daytrading mechanism isn't going to fully feel and act like the market. It's not like poker where you can start at .5/1 and move up to 1/2 and 2/4 and 3/6 and 5/10. You're thrown into 200/400 right off the bat.
And the only reason daytraders can go broke is if they overextend their bankroll (or start off with one that is too small). $5,000 and a terminal isn't going to get you started. You need much more than that AND you have to have the bankroll to facilitate the losses you're obviously goig to take during your first foray into daytrading. The morons that went broke were the cowboys who paid no attn to bankroll management.
So congratulations Stephen, you played the role of PokerStars and made sick rake (i'm sincere, it's pretty cool). But what you're implying is that in the end the only ones that survive are the Ivey, Antonius, etc. of the world and that only the occasional Jman can come in and play for real (not just be a two-buyin donator). It's true for the most part that the B/Ds will always be dominating the game. But there's definitely room for people with bankroll management to build their "daytrading book".
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