Transferable skills are something we hear about all the time – the ability to take skills you use in your work life and transfer them over to your personal life, or from one job to another.
There are more skills than you’d anticipate that come up both in your everyday life and work life, and recognising this can really play to your advantage. This is especially true, if not surprisingly true, when it comes to playing poker.
Transferable skills from poker to trade
- Ability to persevere
With both poker and trading, the ability to persevere with the task at hand is imperative. Poker can be a tricky game to get to grips with so it’s important to be able to stick it out when you’re first starting. Many beginners choose to start with online poker for more controlled and comfortable setting. The same can be said for trading as it’s one of the more complex forms of work out there.
Being able to stick to a goal is important in every aspect of life, so it’s a great skill to have if you can manage it. It will require you to dedicate yourself and to make sure you stick it out when things get tough. But once you learn how to be more disciplined, you’ll see a positive impact in every corner of your life.
- Work well under pressure
The pressure is always on when you play poker. You have to be able to think fast and make measured decisions quickly in order to win. Panicking is not an option when you’re playing poker. So, if you already have a level head from working in trade, you’ll be off to a flying start.
Being able to work under pressure is always something that’s useful to have in your back pocket. Whether you’re short of time when getting to the airport or dealing with a difficult deadline at work – there’s always going to be a time where working well under pressure is going to come in handy.
It’s not exactly a fun skill to practise but it gets easier the more you do it. As they say – practise makes perfect!
- Working to time constraints
Trading often works based on a strict schedule with quick turnaround times, so being able to work to time constraints is a necessary evil. Poker also works to tight timings, there’s only so much time you have in each game. This makes having the ability to work to a tight schedule a necessity for both trading and playing poker.
But there are also always going to be time constraints in everyday life – not just trading and poker playing. Being able to stick to a time limit and having a vague idea of how long something is going to take you is always useful.
From cooking to getting ready in the morning, knowing realistic time limits you have for yourself is the best way to optimise your time. So not only is working to time constraints going to help you in the world of trading and poker, but you’ll start to see the rest of your life start to run a bit smoother as well.
- Analysing risks
Risks are a part of our everyday life and not something you can easily avoid. Even stepping out of your front door each day is a risk – and the same could be said for staying indoors! The trick is knowing how to analyse these risks and take appropriate action to keep yourself safe. From looking before you cross the street, to not leaving a boiling pan on the stove unattended, we’re already constantly mitigating risks in our lives.
But there are always going to be times when the risks are far higher and need more careful consideration. It’s not always going to be as obvious and easy to deal with as the everyday risks we face in our lives.
That’s where working in trading can really help you as a big part of your day to day work is looking at and analysing risks. Sometimes it’s worth going for it – but sometimes it’s best to leave these things alone.
This is an absolute necessity when you’re playing poker too. Every single move you make has to be analysed for risks before you make your decision. The trick is not to panic and make sensible choices – and experience in trading can help you with that.
- Sticking to a budget
Sticking to a budget can be difficult in everyday life and in work. Things seem to cost so much more than you anticipate and take so much longer than you expect. But being able to stick to a plan, whilst planning for unexpected costs can make your life so much easier.
This is true in both trading and poker as not sticking within your budget can really have a detrimental effect on your overall experience.
Are there any transferable skills between trading and poker you think we missed?
