Aaron Brown

It is not that gambling imitates economic life, but that economic life is largely modeled after gambling.

Poker has valuable lessons for winning in the markets, and markets have equally valuable lessons for winning at poker.

The key is not minimizing risk, but managing it.

Poker players who understand risk management principles

have a better chance of succeeding.

In traders' terms, you must take risk only when you're getting paid enough for it. In poker terms, you must extract all the value you can as a cardplayer before you start relying on your poker skills.

To be even an average poker player, you must often throw away good cards, regardless of how much you have bet on them, even when there is a good chance that you could have won the pot if you kept betting. And you must learn to fold as early in the hand as possible.

There are situations in which the leader should strive until all hope is gone