1. Capital management:

In poker, players always try to increase their stake by placing a bet based on their calculation from the cards in hand. Similarly, your goal in trading is to increase your initial capital by risking part of your account and placing your bets.

In either case, we have to know what the stamina is in order to continue the game. The "all-in" in poker can lead to big hits, but it also means you can leave the table early.

The point does not only need to know how much risk we can take, but also WHEN we play. Seasoned poker players are often very picky about their hands (meaning they only play when they are beautiful), and they wait for the opportunities they deem the best!

In Forex trading, you also have to know when the odds are tilted in your favor when to fill orders, when to cut losses and when to stay out.

2. Know who you are against:

A professional poker player's strategy will depend a lot on who he is playing with. For example, he might play differently against amateurs while doing his best against other professionals.

For traders, it is important to know the characteristics and behavior of the markets we trade. Why? Because these can also give us an edge in the trading realm.

Different currency pairs have different trends, so we have to understand those trends to come up with the right trading method. For example, pairs like EUR / JPY are more volatile than pairs like EUR / CHF, so we should use wider stops. Or the cross pairs that create more Range than the main pair, surf the day, choose the cross, and trend trading chooses the main pair!

3. Emotional control:

The best poker players are those who master the art of controlling emotions because showing shyness or excitement on the poker table can knock you down. Therefore, they must be very careful to ensure that they always keep a poker face.

As a trader, we must also strive to do the same. In fact, to a certain extent, it's easier to control our emotions than the poker players, since they are in front of them.

We can frown at a losing trade or jump over a winning trade, as long as we don't let our emotions negatively influence our decision-making.

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