wrzlbrnft
Legend
Platinum Level
I made daytrading with CFD's some years ago, tried to make money but lost a lot. Quick decisions are needed, also in Poker but her I am more succesful, Maybe because I play Poker for fun and in Micros. Ther are some similairs in daytrading and Poker. Now I prefer longterm investments, her I am profitable
Sulfuros001
Rock Star
Bronze Level
mushthebush
Rock Star
Bronze Level
Why not do both and see which is more profitable? I cannot under any circumstances advise taking on a day job at this point in time. Some research and basic math will unfortunately show you the truth. It's simply not worth it at the moment, just like pension or savings accounts. Besides, there are too many trained workers, without any other abilities or skills or the potential to acquire these, and who accept the easy way of taking what they're given. If you're one of them, go get a job, it's your best bet.
Of course, I have no responsibilities, so I can take chances at alternative opportunities and I refuse to live a mediocre life of survival with absolutely no chance for worthy achievements. However, I'm commited to risk, and I am not afraid to take chances (calculated), even if I die trying. Not many people are able to accept this. If you can afford to survive and can give yourself a shot at an acceptable life (you only got one), then go for it. Do research, absorb every piece of information you can and work for it harder than you ever have. That's a requirement. Other than that, It's your choice not an obligation.
If you get a job, also join the gym in January, motivated by the "new year, new me" slogan to donate gym owners some of your money every month for a year, after using it twice in January before giving up and unable to cancel it. Works a charm! Also, do not forget to "invest" a little in a new crypto coin like Squid or Shib with amazing potential and great hype online before it vanishes overnight and then give yourself a pat on the back and say it ain't too bad, it was worth a try, how could you have known, but at least didn't lose too much.
If you go day trading or poker, research them both like there's no tomorrow. For day trading, read everything about technical analysis, give quality signals a try, do some copy trading, use demo accounts (just like chips in poker but in trading it replicates exactly as opposed to poker where there's a huge difference between real money and chips), create some trading bots, fail, then analyse what and why you've done what you've done. Generate some good patterns, leave emotions to your family, setup your risk management so you can profitably lose trades and stick to your strategy, no matter what. Then, put in some real money and dive in with your O2 tank, suit and goggles on not with a heavy rock tied to your ankles and your fingers crossed. If you're from UK, you're better off spread betting rather than day trading as it's classed as gambling, so you save the "rake"/tax for later poker purposes. For poker, play, read, play, analyse, play and adjust, lose your money and then come back more motivated than ever. Isn't this how top players got to the top? There can't be highs without lows.
One more thing, it's not what you do, it's how you do it. Be committed and happy with your choice. If you're used to dropping everything in life because of emotions, then don't waste your time and follow your intuition.
Of course, I have no responsibilities, so I can take chances at alternative opportunities and I refuse to live a mediocre life of survival with absolutely no chance for worthy achievements. However, I'm commited to risk, and I am not afraid to take chances (calculated), even if I die trying. Not many people are able to accept this. If you can afford to survive and can give yourself a shot at an acceptable life (you only got one), then go for it. Do research, absorb every piece of information you can and work for it harder than you ever have. That's a requirement. Other than that, It's your choice not an obligation.
If you get a job, also join the gym in January, motivated by the "new year, new me" slogan to donate gym owners some of your money every month for a year, after using it twice in January before giving up and unable to cancel it. Works a charm! Also, do not forget to "invest" a little in a new crypto coin like Squid or Shib with amazing potential and great hype online before it vanishes overnight and then give yourself a pat on the back and say it ain't too bad, it was worth a try, how could you have known, but at least didn't lose too much.
If you go day trading or poker, research them both like there's no tomorrow. For day trading, read everything about technical analysis, give quality signals a try, do some copy trading, use demo accounts (just like chips in poker but in trading it replicates exactly as opposed to poker where there's a huge difference between real money and chips), create some trading bots, fail, then analyse what and why you've done what you've done. Generate some good patterns, leave emotions to your family, setup your risk management so you can profitably lose trades and stick to your strategy, no matter what. Then, put in some real money and dive in with your O2 tank, suit and goggles on not with a heavy rock tied to your ankles and your fingers crossed. If you're from UK, you're better off spread betting rather than day trading as it's classed as gambling, so you save the "rake"/tax for later poker purposes. For poker, play, read, play, analyse, play and adjust, lose your money and then come back more motivated than ever. Isn't this how top players got to the top? There can't be highs without lows.
One more thing, it's not what you do, it's how you do it. Be committed and happy with your choice. If you're used to dropping everything in life because of emotions, then don't waste your time and follow your intuition.
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1
1984
Rock Star
Silver Level
Generally, I think, daytrading needs more patiance, as sometimes, you must sit there hours, days doing nothing, plenty days you just must avoid because certain events what can ruin not simply the certain day, but the hole week, month.
Also just for beginning, it is matter of your pocket size, even if you daytrade with high leverage, you need much higher "bankroll" for the same long term average profit, then in poker. Unless you have millions or more, but i guess we don't talk about that case, as more than possible you wouldnt be here then, and you wouldnt even think about daytrading...
Time case, obviously daytrading takes less time, than playing poker regularly. Your weekends are definitely free vs. most of the reg poker players don't really have Sundays off, even Saturdays rarely.....
Just the sudden main things i got in my mind, but there are plenty.
Otherwise, the main thing: money speaks, so how much you need, how much you can manage from trading/poker which one is (more) profitable, if you are able to make profit from any...
filippfilm
Rock Star
Bronze Level
Playing with a lot is both good and bad at the same time. You can relax and lose your stack, this has happened to me many times ... It is more important to become the leader in the late stage of the tournament
Pokerpoet2
Legend
Loyaler
The only time I tried trading on the stock exchange, was when the Tory Government started selling off Nationalised industries like British Telecom, British Gas, and other Businesses, in the 1980s.
They were always under-priced, and I did make quite a bit of money initially, but being a family man with more important issues to take care of, I went for the quick profit, and sold them as soon as the price doubled, which they all did in a matter of a few weeks.
Boy do I wish I had held onto them now, some of them are worth 10 X what I initially paid for them, but it has been a long time, and of course raising a family came 1st.
When the fun Stops, STOP!
They were always under-priced, and I did make quite a bit of money initially, but being a family man with more important issues to take care of, I went for the quick profit, and sold them as soon as the price doubled, which they all did in a matter of a few weeks.
Boy do I wish I had held onto them now, some of them are worth 10 X what I initially paid for them, but it has been a long time, and of course raising a family came 1st.
When the fun Stops, STOP!
poxerator78
Rock Star
Bronze Level
In order to earn poker, you constantly need to have a decent bankroll and set yourself a goal of 300-500 bucks per week,
And also do not forget about study and analysis distribution
watch streamers and visit forums,
sleep well, no more than two tables per session
if you are unlucky and you played correctly, no mistakes means not your day and then you need to STOP PLAYING THIS DAY let your mind rest - breathe fresh air
And also do not forget about study and analysis distribution
watch streamers and visit forums,
sleep well, no more than two tables per session
if you are unlucky and you played correctly, no mistakes means not your day and then you need to STOP PLAYING THIS DAY let your mind rest - breathe fresh air
Igor G
Legend
Platinum Level
I play poker for no more than 6 hours. I play for fun, so 6 hours is more than enough. I don't see the point in playing poker for more than 6 hours or all day, because over time, poker will just get bored. You need to have moderation in everything.
RALF_AK
Rock Star
Silver Level
I am a real-time player, when I'm not playing, I choose to study and then practice with the knowledge acquired.
Andyreas
Moderator
Moderator
I suck at trading much more than poker, so poker would be my choice. 🤣
At least poker can bring results if you're game is on point and you have the necessary volume.
Even if you have the best info, Day trading isn't guaranteed to bring you wins since the performance depends on the public/others. There's also some psychology involved in the stock market.
At least poker can bring results if you're game is on point and you have the necessary volume.
Even if you have the best info, Day trading isn't guaranteed to bring you wins since the performance depends on the public/others. There's also some psychology involved in the stock market.