On Saturday July 5, the World Series of Poker begins it's annual tournament. Which inspired me to write this article. I had called my cousin, to wish him good luck in the tournament. He's flying out to Vegas to participate after successfully placing within the top 50 last year and taking home over $200,000!
In our conversation, we talked about his career as a professional poker player and I started noticing some major similarities to my top day to day priorities as an FX Trader. The intention of this article is to outline the distinctions, and ultimately point out the advantages the FX Trader has over a Poker Player!
Poker "OUTS"
The more challenging job of the Poker Player is constantly calculating what is referred to as "Outs". This term is used to described cards that can come on board to make a winning hand for the player, and the percentage chance the player has to catch that hand.
Let's look at an example,
The Player's hand so far is not very strong, only a high card. But if another heart comes on board, the player will have made the top flush, and most likely have the winning hand.
So the outs for the player in this case is a heart. Keeping in mind we are already show…
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