Forex Trading for Poker Props
It is a generally accepted fact that poker props are on average more than decent online poker players. Of course, they're not the best of the best but in order to be able to take full advantage of the perks of poker propping, one needs to possess a basic set of skills maybe even elevating his game to a superior thought level. Of course, word is that there are poker props out there who use poker propping as a means of climbing out of the losers’ ditch. Poker propping is indeed fully capable of turning a longtime loser into a profitable long-term player, but regardless of that it does require quite a few skills on the part of the poker prop. Most poker props do understand and see the reasons behind Mike Caro's newest online poker strategy theory. According to the Mad Genius of Poker, the thought process which leads to successful long-term decision-making at the green felt is one that views the game as a marketplace where everyone peddles their goods and players need to make buy and sell decisions all the time. Indeed, when someone runs into a bet and needs to decide whether to call it or not, he is basically offered something to buy. Whether he decides to buy or not is up to him. That something that is up for sale in such a situation is the opportunity to stick around and to eventually take down the pot. If the player decides that the deal is not one that he wants to take, he will simply fold. If he decides to buy, he will make the call. According to Caro, this sort of approach to poker strategy makes for much improved long-term decision-making on the part of the player.
The interesting thing about Caro's new theory is that it is eerily reminiscent of the skills and of the attitude required of Forex traders. People are buyers and sellers in the foreign exchange market the same way they are buyers and sellers at the poker table. Having read into Mike Caro's newest strategy recommendations, it suddenly makes perfect sense why experts always proclaim binary options trading as well as Forex trading activities well-suited for the kind of people who play poker online. Indeed it does make perfect sense for a poker player who already possesses most of the required skills to reinvest his or her winnings through Forex trading. What exactly is Forex trading about though? Forex is short for the foreign exchange market, which is the world’s largest over-the-counter market offering the best liquidity on the planet. In addition to being already endowed with many of the skills required to make one profitable in the long run trading currencies, there are a plethora of other reasons why poker players should consider taking up Forex trading. The advantages offered by the foreign exchange market are quite obvious indeed even when compared to something as well known and as mainstream as the New York Stock Exchange. Unlike the NYSE, the Forex is not bound by any sort of physical limitations. It is an electronic market where there is action around the clock and where there are always people willing to buy and sell various types of currencies. How exactly does one make money through Forex trading? The idea is pretty simple: the trader purchases a certain type of currency to which he then holds on until its price goes up, allowing him to sell at a profit. By repeating such trades, those skilled and disciplined enough will generate a more or less steady stream of Forex revenue. Currencies can be traded in the above described the way, but they can also be traded through binary options. Binary options trading isn't reserved for stocks and commodities only. As a matter of fact, Forex binaries are extremely popular with beginner traders, because they tend to be much easier to understand, to follow and to dissect through various trading signal pattern strategies. The downside of trading currencies is that while currency exchange rates do not react to various geopolitical events as radically as commodity prices tend to, they are practically much more difficult to figure out.
Another major advantage offered by Forex trading is a leverage-related one. Poker players more than anyone else know that they need to have money in order to make money. After all, one of the most basic axioms of cash game strategy recommends that the player have as many chips in his stack as possible at any one moment, because the amount of chips one can theoretically take away from his opponents is always limited by his own stack size.
In Forex trading, this apparently basic truth is not always valid however. There are Forex brokers out there who offer their traders some pretty fabulous leverage rates. Beginners usually start out on meager bankrolls. What that generally means in poker is that they are stuck at the lower stakes until they make enough money to kick and claw their way up the ladder. By taking advantage of a 500 to 1 leverage however, someone with a $10,000 bankroll can trade assets worth $5 million. With increased leverage, of course comes increased risk, but if anybody knows how to balance risk and reward, it has to be a poker player.
To make a long story short: poker props interested in Forex trading should head on over to a portal like Intellitraders. They will find all the basic information required to get started there, in addition to various expert alerts which will set them on the right track from the get-go, and various advanced strategies which they themselves will be able to put to use later in their trading careers. free forex trading is also available for those interested in putting their skills to the test before jumping into deeper waters.