Apr
15

Poker Propping and Forex Trading

Author // jameswest
Posted in // Poker News

Due to the extraordinarily invasive and persistent marketing campaign launched by the scores of Forex trading affiliates that have popped up everywhere during the last few years, the whole idea of trading through the foreign exchange market has been trivialized to a point where no one seems to be giving a rusty penny about it. Indeed there is little value in binary options trading or Forex trading for the layman these days. People sign up, they do a few trades, they get hit by the extremely adverse odds and then they fade away. That is the story of the average Forex trader recruited through the often dubious marketing tricks used by various shady affiliates and binary options trading portals out there. The truth however is that there is still plenty of value in the Forex for those who come pre-equipped with the set of skills required for success. Poker players and online poker players represent an extremely good pool of candidates for Forex trading success. I’ve read an article recently in a prestigious online mag about how binary options trading and Forex trading was especially appealing to those who played poker online. Although the way the statement was put in the said article was meant to be offensive to poker players and Forex traders alike, there was a fundamental truth to it: there is a reason why poker players in general and poker props in particular make above average Forex traders: these guys are all familiar with analytical thinking, with the science of odds and with the spotting of various human behavior patterns. These are all skills needed to make someone a good Forex trader.

 

Successful poker players are often faced with a conundrum: while most of them are fully aware that they need to diversify their avenues of generating revenue, the majority of them have grown so one-sidedly dependent on their poker skills that they find it nearly impossible to come up with a financially feasible solution. The worst thing such poker players can do is to take their hard earned poker winnings to the online casino tables. While in poker – much like in Forex trading – they can rely on their skills and their abilities to turn the mathematical odds in their favor, by taking up sports betting or casino gambling, they will simply undermine this edge, cutting their skills and abilities out of the equation. Needless to say, that is definitely not the right way to go about what they’re trying to achieve.

 

Forex trading on the other hand is a lot like online poker. The proposition itself is an extremely simple one: one uses the foreign exchange market to acquire currency at a certain cost, and he or she then waits till the price of the said currency goes up so he or she can sell at a profit. Much like in poker, the actual mechanics involved are extremely simple however the strategic aspects that will enable traders to become profitable over the long term are quite infinitely intricate. There is quite a bit of strategy involved with the spotting and exploiting of various trading signals, and good poker players (poker props) will soon find themselves completely entangled in these strategic aspects of trading.

Interestingly enough, people always seem to talk about Forex trading in binary options trading as if they were two completely separate entities. The truth is however that one can in fact trade Forex binary options without any sort of difficulties. As matter of fact, Forex binaries seem to be some of the most popular binary options traded.

The advantages offered by the foreign exchange market are numerous and obvious. An over-the-counter market, the foreign exchange market is not limited by any sort of physical framework. It is a truly global market that never sleeps, therefore one will always find plenty of liquidity and plenty of attractive options: all that is needed is a proper strategy to take advantage of all these awesome assets.

 

Quite possibly one of the most attractive advantages offered by Forex trading is leverage. Leverage makes it possible for those on relatively meager bankrolls (which does indeed include the majority of beginner traders) to generate much bigger trade volumes than they would ever be able to anywhere else. Of course, increased leverage comes with increased risks for the investor, but that too is part of the game.

 

Exactly how does one start out in Forex trading? What the ever-present Forex ads suggest is that one only needs to jump right into the middle and begin trading chaotically left and right in order to generate revenue. That of course, is false. The odds are piled rather high against beginners. In order to make any sort of headway, one will have to take advantage of the special offerings of brokers like Intellitraders.com, which offer not only a crash course in strategy and in various trading signals in addition to no deposit try-out, but also offer expert alerts that beginners can use to generate some early revenue while being able to observe the mechanics of profitable trading in motion. Such portals will effectively ease players into the flow of Forex trading action, holding their hands every step of the way until they feel they are capable of breaking out on their own. This is the way to establish a successful Forex trading presence, and whoever chooses to strike out on his own from the beginning will have to learn the hard way that making money online through these trades isn’t exactly a simple proposition after all.

Trackback from your site.

Leave a comment

© 2005-2018 Poker Prop Network
Privacy Policy | Terms of Use