As i said in my introduction post. I played poker professionally for over 7 years. Poker and trading in Cryptocurrencies has a lot of similarities. Here they are:
I specialized myself in tournament poker online and offline compared to cash games tournaments have INSANE variance! Which will challenge your mental state at some point when you are in a downswing.
The Variance and Mental game
As a poker player especially as a tournament player you have losing periods. Cash game players easily have a losing day or even a losing week. But tournament players can EASILY get into a 3-6 months+ downswing it will happen to every tournament player at some point of his career. Me myself had those 2 times in my career where i had a 6 figure downswing over a period of 3-6 months. Of course a big win like winning a scoop/wcoop or q big live tournament can instantly make your year good!
So what advantages do i get out of this when starting daytrading?
There will be days i lose a lot of money because of a bad trade or especially in those market corrections/crashes i might lose 30% of my bankroll in 1 day. I already experienced those periods in poker more than once. I have seen poker players with a lot a talent but they could not handle the variance mentally and because of this it starts to affect their game. Same will be the case for trading in the cryptoworld. This will be my BIGGEST advantage versus other starting traders.
Knowing how it is to start from the bottom and reach the top
I already did it before what i am trying to do now in the crypto space. I already started with a dream to become a poker pro. I know the struggles when you try to learn something new and you can't wait to be as good as some of those other people on the top. You are impatient to get there but now i know NO MATTER WHAT! I will get to there if i just put in the work!
My motivation
My motivation in poker was to become known as a top poker player where people respected my game. My motivation now is purely to build a bright future for my new family and to get as financially independent as possible. I do not care about people knowing me for what i do now in the crypto space. That is why i am not posting under my real name or nickname. The sole reason for me posting my journey is to motivate other people to chase whatever dream they might have in life.
Hit me up with a follow if you want to follow my journey as a starting crypto trader