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  1. #1
    Active Member Kius's Avatar

    Binary Options Are Just Like Poker !!!

    Specifically, Texas Hold-em Poker As some of you may know, I am Kius, and I am brand-spanking new to binary options. Heck, I'm new to trading altogether. Over the last few weeks, I would like to think I've learned a fair deal about the industry, and my general assessment so far is this: binary options are like playing poker. Both activities share a lot of the same tactics and traits, such as:


    • You have a minimum deposit that varies by broker, much like each table has a variable minimum amount to play (let's say $30 for limit Hold'em and $100 for no-limit). With each table/broker, the atmosphere/experience can be wildly different.

    • You have tons upon tons of players (or in this case, other traders) on the scene, each with varying levels of success, but mostly, jam-packed with nuebz (like me!)

    • You (typically) base your trades/play based off of signals (tells) from other sources (players).


    So,what do you all think? Are my correlations correct? Is trading binary options a lot like playing Texas Hold'em poker?

  2. #2
    Rookie Member
    Correct but not exactly. If to be precise binary option and poker have both in common gambling feature. They are both based in much on predictions, intuition and less on calculations, especially fundamental. Of course it's my personal opinion, grounded on my views and experience.

  3. #3
    Master Member SeasaltMcFish's Avatar
    There are many similarities, but also big differences.

    In both you'll need a solid money management and getting better, f.i. by reading articles on BOTS and trying demo trading, pays off most of the time.

    One difference is that it doesn't affect you if other traders get better or have more money (only if they have much, much more money it will affect your trades).
    Another one is that markets are very unpredictable, while poker games don't change much. You also need more money to start trading.

  4. #4
    Active Member Kius's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    One difference is that it doesn't affect you if other traders get better or have more money (only if they have much, much more money it will affect your trades).
    Another one is that markets are very unpredictable, while poker games don't change much. You also need more money to start trading.
    Hehehe, fair enough. And, yeah, very true. I can go to a brick and motor game (Sit & Go) with $100, and potentially walk out with hundreds, or even break $1,000 in a few hours. When I do start trading real money, I plan to open my account with $300, but plan to spend that $300 over a *long* time frame.

  5. #5
    Master Member Bogdan G's Avatar
    The fact that you have a minimum deposit in poker and in BO is of no relevance.
    The fact that there are tons pf players and tons of traders is again of no relevance because we were to think this way, we could also compare BO with soccer, boxing or knitting.
    One who trades based on signals from signal providers is by no means a trader.

  6. #6
    Rookie Member TaoMarx's Avatar
    One thing they certainly have in common, big time: despite the odds, signals, tendencies, studies or whatever, it can blow in your face. What people call in poker, the Bad Beat. And it's the same frustrating to go all in with pair of aces and lose to a pair of jacks, as to get the tendency and movements of the market right but lose the trade for 2 pips...aught!

  7. #7
    Specialist Member marvel's Avatar
    Quote Originally Posted by TaoMarx View Post
    One thing they certainly have in common, big time: despite the odds, signals, tendencies, studies or whatever, it can blow in your face. What people call in poker, the Bad Beat. And it's the same frustrating to go all in with pair of aces and lose to a pair of jacks, as to get the tendency and movements of the market right but lose the trade for 2 pips...aught!
    More general the common thing between poker and binary options is the involvement of probabilities. The difference is that in poker you are facing pure probabilities, while in trading you could find an edge based on your analyses and skills. The outcome is uncertain but you know that from large sample of trades that at the end you will be a winner if you follow your strategy.

  8. #8
    Specialist Member runneroption's Avatar
    For me there is a big difference between them. Poker is just a game, where you trust only on probabilities and psychology of your opponent. In trading there are much more factors which could affect your results, the most important is the understanding of the macroeconomic situation and the news impact on the market. If you understand them you have great impact. I mean longer term plays. If you day trade its another story

  9. #9
    Rookie Member
    I can certainly see why it's like poker, it has risks but every risk is calculated. Also, emotions should come off as soon as you sit on the table

  10. #10
    Active Member Kius's Avatar
    Quote Originally Posted by TaoMarx View Post
    One thing they certainly have in common, big time: despite the odds, signals, tendencies, studies or whatever, it can blow in your face. What people call in poker, the Bad Beat. And it's the same frustrating to go all in with pair of aces and lose to a pair of jacks, as to get the tendency and movements of the market right but lose the trade for 2 pips...aught!
    Indeed! Now, so far, all I have been doing is some demo action, and while I seem to win the majority of my trades, there are almost as many of them I have lost by a pip or two. Granted, I totally concede that my "strategy" isn't well-developed yet, and the trades I won could have just been lucky guesses. Still, very frustrating to lose a trade by a few pips.

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