Professional poker is not a gamble, when one takes a large sample-size of many, many hands into consideration.
On the other hand, non-pro poker is more likely a gamble.
So, what’s the difference between professional poker and non-pro poker?
Players make “mistakes”.
Mistakes cause losses. Lets define “mistake” here as anything that causes loss.
Winning players strategize in such a manner, that their mistakes make them lesser than average losses, and sometimes, no losses at all, but even a win results.
Reads, bluffs, meta-game, what have you,…
…the reason the player is a winner is that he or she is winning even with hands that would normally cause a loss.
Also, when the pro senses a winning hand, the pro bets big because the odds are in his or her favour, and the pro would like to capitalize, given the odds.
A few big wins coupled with many small losses, whereby the sum total of all losses is lesser than the sum total of the wins – that’s a winning combination.
Let’s just take this element of the winning combination, and see how it’s implementable in the markets.
Market play means mistakes.
Almost all the time, we’re making mistakes while we’re attempting market action.
However, because of our due diligence, we make intelligent moves too.
Our intelligent play wins us money.
Our mistakes lose us money.
How do we let our mistakes lose less money?
By having a very small entry quantum each time.
How do we allow our intelligent moves to win big?
By not nipping a winner in the bud. Also, by putting money into the winner when it dips, and at an appropriate entry level.
What do we have here, then?
Many small mistakes, and a few big wins, whereby the sum total of the mistakes is lesser than the sum total of the wins.
This is the same winning combination we discussed above.