One thing I find helpful about no limit poker in relation to trading is position sizing. Every hand you play requires you to decide how much you're willing to risk. Sure, you can bet the same amount each time, but, as many new players will soon find out, that does little to nothing to limit your losses, throw off opponents or maximize your gains. If you do not know how much to bet and when, you're going to be at a severe disadvantage.
The more thought and attention I give to trading, I'm finding the same to be true. If you are able to control the amount you put into play depending on the context and conditions surrounding a trade, you can minimize risk and maximize potential profit. Say you are uncertain about a specific trade. Why not cut down the amount you're willing to risk on it? There's no real need to risk the same amount on every trade. If you're confident about a trade, put on some more money. As your confidence increases, add to your position. As it decreases, subtract some off.
Being able to successfully manage risk in this manner increases your strengths and decreases your weaknesses. Put your money where it's going to win.
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