Hi all, after having a terrible day of bad beats and losing money the other day to stop myself losing more money from tilt on pokerstars i exluded myself from playing for 7 days to cool off and rethink my strategy, i also withdrew 100 dollars of my poker money and put it into a forex account. When my 7 days are up ive only got 10 dollars to play with, and am going to buld another bankroll from there. Question is do any other poker players trade forex online? Not sure why i did that move it was quite impulsive.. ps, made 15 dollars profit already in forex account. ♠_cool:
Notifications
Clear all
Small Talk
20
Posts
13
Users
0
Reactions
3,542
Views
19 replies
I'm interesting but feel its just too hard and too much effort to try. I never even set up a playmoney forex account 
I've registered for a play account, read some stuff and explored the software a bit but i guess it's still complicated for someone minimal knowledge on economics, stocks and investment.
Like poker, forex is a long-term study and investment process (although you can obviously be aware of constant daily variance and fluctuation). And if you want to succeed you have to work very hard as well.
But probably it is worth a try if you have the time to dedicate to study the market and make a strategy based on the factors you consider most important.
You should have at least $30,000.00 to have proper BRM for FOREX. Leverage will kill your 100 dollars in no time. Good luck!
Originally posted by Jackalof
You should have at least $30,000.00 to have proper BRM for FOREX. Leverage will kill your 100 dollars in no time. Good luck!
lol depending on the lot size, u can trade nano lots with that
I am working on transferring my mad poker skills (lol) to the world of forex trading. The two are remarkably similar - if you are a winning poker player with a good understanding of BRM, EV, tilt, variance and risk v reward, you can make a killing in the forex market. And its ok to start with $100 if you practice good BRM, set tight stops and start with mini lots.
As stated above though, dont think forex trading is easy money, it still takes time, patience and discipline to learn.
Yeeey, fellow forex traders... I have a small live account for about two years now but until now i wasn't able to consistently make money from trading. For me it's a hell of a lot harder than playing poker.
You can trade forex with impecable BRM with a very small bankroll (on Oanda and Marketiva you can trade just 1$, not lots/mini-lots like others). Anyway if you guys managed to make money from it i'm very interested to know how...
best place to learn forex trading is www.babypips.com - its the forex equivalent of pokerstrategy. Just dont expect people you meet in the forex world to be as friendly and honest as people you meet in the poker world.
Hey delete - I take it you use an offshore website for your trading.. any local tips?
BTW thanks for the link. 
Yeah you'll never ever hear a trader say how much money he has. Maybe, just maybe he'll say in percentages how much he won/lost, but most often you'll hear about pips.
But they are friendly... Somehow.
Also check www.forex4noobs.com www.forexfactory.com www.investopedia.com www.informedtrades.com (video lessons).
Books: Start with VanTharp - Trade your way to financial freedom.
Basically you can't exchange more than 10 posts with anybody without starting to argue with him because every trader has his own style and perception about the market.
If you post a hand for review you'll probably figure out that the evaluator is right, but the equivalent in trading is like posting a holdem hand and being evaluated like it is omaha.
Story..................
I was live on line with forex when the planes hit the towers on 9/11.
Like most forex traders i thought the sudden and massive drop in the $$ was a computer glitch, so I didn't sell sell sell............I could have made a fortune that day.
Poker is a lot more controlable environment than forex... just 9 other numbskulls to worry about :tongue:...unless you have serious money and can exert leverage. If you are seriuos about forex get 2 TV's and hook them up to channels like CNBS etc and watch like a hawk.
Back to the story.......2 hours after the 2nd plane hit I got an SMS from my online forx provider....they were back online and trading...frightening shit considering they were originally based 2kms from the towers - money does indeed make the money go round.
I've had a passing interest in trading forex but never took the jump, i tried some demo software made by Party can even get "rakeback" on it maybe PS can diversify a little :p.
wow this sounds awesome I am going to finish my poker session today and spend the rest of the day reading up on this.
I know this is not Forex but it's in the same environment.
http://confidential.pokerstrategy.com/Hedge_Funds_hiring_Poker_Pros
Poker players may have an edge in forex too.
Just been reading. Hard to get your head around and will probabyl get a better understanding when I download the software. But off a $200 roll what kind of profit margin can I be looking at on a weekly basis if I worked hard at it?
Originally posted by richard1817
Just been reading. Hard to get your head around and will probabyl get a better understanding when I download the software. But off a $200 roll what kind of profit margin can I be looking at on a weekly basis if I worked hard at it?
I used to trade forex for some years, it is very very hard.
From what I understand the best make like 10% on their account a year
that suks....and they call poker gambling. I could get 5% interest on my money just from a bank account effort free.
Originally posted by lennonac
It doesnt sound much but when they have $100 million it seems ok to me
If I had 100mil I would be sunning it in vegas for the rest of my days.
From what i know best hedge funds and investors make around 40%-70% yearly profit (they also trade stocks, futures, options, etc).