What does Poker Propping have in Common with Binary Options Trading?
The father of modern poker strategy, the mad genius of poker, Mike Caro, has come up with a new theory in regards to how players can better the decisions that they make at the green felt. Apparently, this theory is all about viewing poker as a continuous game of buying and selling. Whenever a poker player is required to make a decision to call a bet or fold, what he’s faced with is nothing more than an offer: he can take the deal or he can leave it. If he does decide to buy, what he will basically acquire is the possibility to win the pot further down the street. Viewed this way, the call is nothing more than an investment, made after a thorough mathematical analysis which tells the player that he can indeed turn a nice profit come showdown.
Likewise, when one places a bet in a hand, he basically offers up something for his opponents to buy. According to Caro, players can radically improve their decision-making if they adopt this sort of thinking.
The truth is that successful poker players have long viewed the game as a buy and sell trading session. He who really intends to be truly successful at the green felt, sees way beyond the nominal value of money. For such players, every single call that they make is a well thought-out investment, with carefully calculated risks and potentially generous rewards.
With the above in mind it becomes pretty clear that the similarities between playing poker and trading binary options go way beyond the superficial. Experts believe that binary options trading is something that is especially appealing to poker players and online poker buffs. Their reasoning is obviously based on the above discussed theory: good poker players master the buy and sell mentality which is exactly what they need in order to make money trading binaries.
Free binary options trading is an extremely simple proposition at first glance. There are only two options a player can bet on, therefore decisions should be extremely simple. There's much more to it than that though. Good binary options traders know that the sort of analytical thinking that is required to make one successful trading binary options goes hand-in-hand with the sort of thinking called upon by poker strategy. Texas Holdem is an extremely simple game as well. Its mechanics are so easy to understand: anybody can master them within a few hours. The strategic intricacies involved in actually being successful at the game however often prove overwhelming for many of the beginners.
Binary options trading and online poker are both based on calculated risk-taking. Those who can manage these risks properly will emerge with the profits. Those who can't, will shoulder the losses.
In binary options trading, the actual mechanics involved in placing an investment are indeed infinitely simple. Those however who trust the fate of their investments to Lady Luck will be driven into the ground by the apparently enormous odds that they're going up against. What is advertised as a 70% profit rate in binary options trading, is technically a 30% edge that the player has to overcome in order to ever stand a chance to make money. For those who understand basic mathematics, these odds are glaringly adverse, adverse enough in fact to completely discourage them from taking up any sort of investment-based buy/sell activity.
Those who are versed in the intricacies of binary options and Forex trading however understand that through the use of various indicators and trading signals (basically: strategy), the trader will be able to beat those odds and beat them consistently over the long run. Site like Intellitraders lend a great helping hand in this respect to those just getting started.
This is exactly the sort of thing that successful online players are well-versed in. It is therefore common sense for a good poker player to view binary options trading and Forex trading as another potential avenue through which he or she can put his or her already developed skills to good use making money. Bankroll management - although apparently simple - is often the biggest shortcomings of some of the most successful names in poker. Players who are able to intimidate their opponents at the live poker table, and who are able to read people like an open book online, become absolutely helpless and make the worst possible decisions when it comes to reinvesting their poker profits. Indeed, bad examples in this respect abound: players like TJ Cloutier and Brad Booth have taken all their poker profits and fed them to the casinos to the last cent. In fact, many such players have gotten themselves into debt feeding the monster of problem gambling. Instead of following them down that path of destruction, one should think long and hard about what he or she does with the money earned at the poker tables.
Once a skilled poker player gets the hang of binary options trading, and once he or she realizes how similar it is to poker strategy, he or she is likely to get hooked quite instantly. The various binary options trading systems - as intimidating as they may appeat to beginners - will readily reveal their secrets to poker players. The statistical analysis involved in the identifying and tracking of various trading signals bears an uncanny resemblance to the sort of analysis a poker player does through his or her hand histories, using various tools like Poker Tracker.
The bottom line: trading binary options beats taking your poker winnings to the online casino tables any day of the week. More often than not, taking up binary options trading will top the returning of the money to the poker tables too.