Financial Lessons to be Learned from Online Poker

Most people assume that playing online poker is a frivolous activity that is actually counterintuitive to good financial practices.  This isn’t necessarily the case.  There are actually good lessons to be learned from playing online poker, as both investing and online poker have quite a few parallels.  There are great lessons to be learned, including:

Patience

In online poker, patience is the name of the game.  Players have to wait it out and pay attention to other users to make sure that they place the right bets at the right time.  Financial investing is similar in this regard. It’s important not to jump head first into an investment simply because you think you may have found a good deal.  Sit back and fully analyze the situation at hand before acting.  Recognize all of the political and economic factors that may currently be affecting the market and determine whether or not those factors will either make a sound investment or result in failure. Often times an investment will, at first, appear viable but later fail after the initial excitement dies down.

Money Management

In poker, the amount of chips a player has can increase or decrease at any given time.  To stay in the game, players have to intelligently handle their finances.  Investors must do the same or they risk losing all of their money on one investment.  It’s important to remain responsible and aware of your available resources and manage them thoughtfully. Don’t overextend yourself. Make sure you have enough in reserves in case one of your investments fail produce the expected return. The lesson is simple: don’t put all of your eggs in one basket.

Don’t Let Emotions Get Involved

When playing online poker, it’s common for players to let their emotions cloud good judgment after a few bad hands.  Once emotions are involved, you can practically guarantee that you will start making irrational decisions that will result in loss.  The same rule applies for investments.  Just because an investment isn’t bringing in an immediate return doesn’t mean that you should throw more money at it or prematurely withdraw.  Take a step back and apply some necessary critical thinking in order to accurately assess the situation.

Learn From Mistakes

Online poker is all about learning from your mistakes and applying the lessons learned in order to make more informed decisions.  The highest payouts will come only to those players who are willing to recognize their mistakes and learn from them.  The same goes for finances.  Just because you made a poor investment one year, or didn’t invest enough in your 401k one year, doesn’t mean that you’re in financial ruin.  It simply provides you with a lesson which will allow you to apply sounder judgment and better decision making towards future investments.

Not unlike poker, investing can be an entertaining and educational experience in reading and understanding strategy. Continue to research and learn about the market to make your gamble a sure thing.

2,988 Responses to Financial Lessons to be Learned from Online Poker
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    The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  12. yerli araba
    October 20, 2018 | 3:38 am

    The new Zune browser is surprisingly good, but not as good as the iPod’s. It works well, but isn’t as fast as Safari, and has a clunkier interface. If you occasionally plan on using the web browser that’s not an issue, but if you’re planning to browse the web alot from your PMP then the iPod’s larger screen and better browser may be important.

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  17. magazin sitesi
    October 20, 2018 | 8:06 am

    If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  18. teknoloji haberleri
    October 20, 2018 | 8:27 am

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

  19. son dakika dünya haberleri
    October 20, 2018 | 10:30 am

    Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  20. alexa hilesi
    October 20, 2018 | 10:50 am

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

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  23. yeni iş fikirleri
    October 20, 2018 | 1:11 pm

    I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)

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  29. Ernesto Schau
    October 21, 2018 | 8:46 am

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Trackback URL http://mynextbuck.com/financial-lessons-to-be-learned-from-online-poker/trackback/

Financial Lessons to be Learned from Online Poker

Most people assume that playing online poker is a frivolous activity that is actually counterintuitive to good financial practices.  This isn’t necessarily the case.  There are actually good lessons to be learned from playing online poker, as both investing and online poker have quite a few parallels.  There are great lessons to be learned, including:

Patience

In online poker, patience is the name of the game.  Players have to wait it out and pay attention to other users to make sure that they place the right bets at the right time.  Financial investing is similar in this regard. It’s important not to jump head first into an investment simply because you think you may have found a good deal.  Sit back and fully analyze the situation at hand before acting.  Recognize all of the political and economic factors that may currently be affecting the market and determine whether or not those factors will either make a sound investment or result in failure. Often times an investment will, at first, appear viable but later fail after the initial excitement dies down.

Money Management

In poker, the amount of chips a player has can increase or decrease at any given time.  To stay in the game, players have to intelligently handle their finances.  Investors must do the same or they risk losing all of their money on one investment.  It’s important to remain responsible and aware of your available resources and manage them thoughtfully. Don’t overextend yourself. Make sure you have enough in reserves in case one of your investments fail produce the expected return. The lesson is simple: don’t put all of your eggs in one basket.

Don’t Let Emotions Get Involved

When playing online poker, it’s common for players to let their emotions cloud good judgment after a few bad hands.  Once emotions are involved, you can practically guarantee that you will start making irrational decisions that will result in loss.  The same rule applies for investments.  Just because an investment isn’t bringing in an immediate return doesn’t mean that you should throw more money at it or prematurely withdraw.  Take a step back and apply some necessary critical thinking in order to accurately assess the situation.

Learn From Mistakes

Online poker is all about learning from your mistakes and applying the lessons learned in order to make more informed decisions.  The highest payouts will come only to those players who are willing to recognize their mistakes and learn from them.  The same goes for finances.  Just because you made a poor investment one year, or didn’t invest enough in your 401k one year, doesn’t mean that you’re in financial ruin.  It simply provides you with a lesson which will allow you to apply sounder judgment and better decision making towards future investments.

Not unlike poker, investing can be an entertaining and educational experience in reading and understanding strategy. Continue to research and learn about the market to make your gamble a sure thing.

2,988 Responses to Financial Lessons to be Learned from Online Poker
  1. shopping mall
    October 19, 2018 | 5:48 am

    Thanks for the sensible critique. Me & my neighbor were just preparing to do some research about this. We got a grab a book from our area library but I think I learned more clear from this post. I am very glad to see such wonderful information being shared freely out there.

  2. Agen Poker Online
    October 19, 2018 | 7:24 am

    Marvelous, what a blog it is! This web site provides helpful information to us, keep it up.

  3. La Manga Club Property
    October 19, 2018 | 9:14 am

    Muchos Gracias for your blog article.Much thanks again. Cool.

  4. Costa del Sol Property
    October 19, 2018 | 11:01 am

    You made some good points there. I did a search on the subject matter and found most individuals will approve with your site.

  5. Power Efficiency Guide
    October 19, 2018 | 12:47 pm

    You could definitely see your skills in the paintings you write. The world hopes for more passionate writers such as you who aren at afraid to mention how they believe. All the time follow your heart.

  6. Easy Cellar Reviews
    October 19, 2018 | 2:31 pm

    Wonderful post! We will be linking to this great content on our site. Keep up the good writing.

  7. เสื้อผ้าคนอ้วน
    October 19, 2018 | 4:15 pm

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  8. The Woman Men Adore
    October 19, 2018 | 5:59 pm

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  11. erkek dövme modelleri 2018
    October 20, 2018 | 3:14 am

    The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  12. yerli araba
    October 20, 2018 | 3:38 am

    The new Zune browser is surprisingly good, but not as good as the iPod’s. It works well, but isn’t as fast as Safari, and has a clunkier interface. If you occasionally plan on using the web browser that’s not an issue, but if you’re planning to browse the web alot from your PMP then the iPod’s larger screen and better browser may be important.

  13. Silver spring
    October 20, 2018 | 5:07 am

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  14. nebbia
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  15. 2018 model otomobil haberleri
    October 20, 2018 | 5:44 am

    I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)

  16. android oyun hileleri
    October 20, 2018 | 6:06 am

    Sorry for the huge review, but I’m really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it’s the right choice for you.

  17. magazin sitesi
    October 20, 2018 | 8:06 am

    If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  18. teknoloji haberleri
    October 20, 2018 | 8:27 am

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

  19. son dakika dünya haberleri
    October 20, 2018 | 10:30 am

    Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  20. alexa hilesi
    October 20, 2018 | 10:50 am

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

  21. specialty items
    October 20, 2018 | 11:08 am

    usually posts some quite exciting stuff like this. If you are new to this site

  22. siyaset haberleri son dakika
    October 20, 2018 | 12:52 pm

    Sorry for the huge review, but I’m really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it’s the right choice for you.

  23. yeni iş fikirleri
    October 20, 2018 | 1:11 pm

    I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)

  24. I cannot thank you enough for the article post.Much thanks again. Much obliged.

  25. waterproof sex toy collection
    October 20, 2018 | 5:17 pm

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  26. ankara hasta bakımı
    October 21, 2018 | 12:23 am

    I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)

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  28. kuşadası escort bayan
    October 21, 2018 | 1:47 am

    If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  29. Ernesto Schau
    October 21, 2018 | 8:46 am

    HiWhat’s upHi thereHello friendsmatescolleagues, its greatenormousimpressivewonderfulfantastic articlepostpiece of writingparagraph regardingconcerningabouton the topic of educationteachingtutoringcultureand fullycompletelyentirely explaineddefined, keep it up all the time.

  30. intelleral review
    October 21, 2018 | 1:22 pm

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