First question came to my mind when I joined DUKASCOPY's community,why poker has been added to DUKASCOPY's Contest which is Gambling?
Finally understood the purpose of it by understanding the Overall Contest Beauty of DUKASCOPY so ,let me explain in detail.
Some people have misunderstanding about Poker saying its Gambling but it’s not in my prescriptive Trading and Poker are same so Poker is not Gambling.
In both we have only three options and you need to choose wisely to win or stay in the game.
Poker: Every table is different ,Every game is different , Every situation is different and as well your opponent so every game is new game so you need to play wisely.
Trading: Same as goes with trading .
So better be prepared with your own weapons/strategy for all new wars otherwise you don’t stand a chance in the war.
Poker: Based on set of rules and regulations.
Trading: We will create our own rules for trading.
example: trade your plan ,Keep your losses to less,always use a stop loss.
So you need to be well aware about all the rules in Poker to win the game same way you need to create your own rules to win the game in trading.
Poker: Wining based on probability and your are not sure till the end who will win irrespective of how good is your probability skill.
Trading: Based on probability and your are not sure about the future till you close your trade .
So in both results are unknown irrespective of how good you are.
Poker: You need to understand your opponents for your next move and for there holdings .
Trading: You need to understand the sentiment of your opponents to ride with majority.
So success formula for both is , you need to understand your opponents move and clues to win the race .
Poker: You may win some games by bluff /without having any high cards ,I will say by luck.
Trading: You may win some trades without any knowledge by luck.
But your luck will run out soon in the long race and you will hit the rock bottom very quickly so better be prepared for worst in these case ( Every day is not Sunday ) .
Poker: You need to know when to call, raise and fold otherwise you are dead in the war.
Trading: You should know when to buy, sell and exit.
In both you need to know your next move in advance in the war to come back safely to your native with valuables.
Understand the basic rules and consider every trade/poker as new game.
I love DUKASCOPY because its giving opportunity to become professional trades/poker players with free money in DUKASCOPY trader/poker contest.
DUKASCOPY is trying to create millionaires with out investing any money of our own.