tag:blogger.com,1999:blog-9097104625320650090.post2165433848432602069..comments2023-07-04T09:03:12.212-07:00Comments on Anonymous Market Notes: Poker Analogy (1st of however many): Playing Every Hand is for the FishANONhttp://www.blogger.com/profile/12926577383740823249noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-9097104625320650090.post-15380327453723233172009-11-11T00:08:59.602-08:002009-11-11T00:08:59.602-08:00I don't know about that ;)
Thank you for the ...I don't know about that ;)<br /><br />Thank you for the comment and take care, Jules!ANONhttps://www.blogger.com/profile/12926577383740823249noreply@blogger.comtag:blogger.com,1999:blog-9097104625320650090.post-77600024979725391232009-11-10T23:49:37.649-08:002009-11-10T23:49:37.649-08:00Damn! I've been a fish for the past 15 months?...Damn! I've been a fish for the past 15 months??<br />Great post, Anon :-)Juleshttps://www.blogger.com/profile/13279368221859540562noreply@blogger.comtag:blogger.com,1999:blog-9097104625320650090.post-53138634598192864852009-11-10T16:22:33.034-08:002009-11-10T16:22:33.034-08:00I enjoyed the clarity of your "Psychology of ...I enjoyed the clarity of your "Psychology of boredom." Without discipline, I could see myself chasing every straight draw and every little move (i.e. noise) in the markets.<br /><br />Solfest, so concise! I like it.ANONhttps://www.blogger.com/profile/12926577383740823249noreply@blogger.comtag:blogger.com,1999:blog-9097104625320650090.post-29082109004114266852009-11-10T05:00:38.957-08:002009-11-10T05:00:38.957-08:00"The urge to trade is greater than the urge t..."The urge to trade is greater than the urge to trade profitably" GB007Solfesthttps://www.blogger.com/profile/12600177979199165880noreply@blogger.comtag:blogger.com,1999:blog-9097104625320650090.post-52073730907041494222009-11-10T01:50:18.794-08:002009-11-10T01:50:18.794-08:00Great analogy Anon,
For the benefit of readers wh...Great analogy Anon,<br /><br />For the benefit of readers who don't read Long & Wrong I've copied below a comment that I made on their "P Word" post about the subject of your post:<br /><br />Psychology of boredom – poker and investing<br />On the subject of psychological analogies between poker and investing, a major similarity that is often overlooked is that good investing, like good poker, is often a boring occupation. And this in itself can cause problems on the psychological side.<br />In Texas Holdem it does require discipline to sit through many bad hands since there are only really about 20 of the 169 (12%) possible starting hands that are worth investing in. Discipline needs to be maintained so the player does not make speculative bet on a marginal hand just to break the monotony.<br />Similarly, with investing, there is a constant barrage of news and a general impetus to act on perceived opportunities. However, the right thing to generally do is sit and wait until opportunities come along that are high quality. As with poker, the temptation is to place a speculative trade to break the monotony.<br /><br />When learning to invest, playing poker can help to develop the discipline of sitting and waiting more quickly than investing, since you can get through more poker hands in a single day than you can investing opportunities.John (aka The Masked Financier)http://texasholdeminvesting.comnoreply@blogger.com