What Do You Do With Your Poker Profits?

Most profitable online poker players know all too well what to do with the money they make at the virtual green felt: some of them take the money and reinvest it into what they're really good at: poker. Others take their winnings to the slot machines or they gamble their profits on sports. None of these paths can be lightheartedly recommended however, as the example set by one TJ Cloutier so eloquently showcases. Taking the money back to the online poker tables is a much better option of course, especially if someone has proved him or herself skilled enough and well capable of making it pay handsome dividends there. Keeping all of one's eggs in the same basket however is seldom a good idea. Savvy investors know that while they may indeed be fully capable of milking the online poker tables time and time again, they need to diversify their portfolio, by opening up another revenue flow, one which is entirely independent of the online poker side of the business, yet it calls upon the same basic skill-set.

The other day I was reading an article at Forbes.com, about binary options trading. While I absolutely disagreed with the point that the writer was making (namely that binary options trading was little more than a sort of fancier name for casino gambling), I agreed with what it said about binary options being especially attractive for online poker players. Indeed, it takes someone well-versed in the mathematics of odds to be able to locate the value in binary options and to ultimately exploit it.

At first glance, binary options trading is an extremely simple affair, and this is where most laymen commit the mistake of assuming that it is indeed a simple equation which they too can solve and explain, having read but a couple of introductory articles.

The truth about binary options trading is that it is quite similar to poker in the sense that while the activity itself is extremely simple and self-explanatory, the strategies and the possibilities behind it are quite complex, difficult to figure out, and ultimately potentially rewarding.

 There are numerous sites out there like Intellitraders.com, which strive to make potential binary traders understand the underlying intricacies of trading, in addition to the extremely simple and straightforward choices one is apparently required to make.

Once he decides to consider binary options trading, the average online poker player quickly realizes that the odds are indeed stacked against the beginner trader. The 75% to 80% profit rate advertised by most binary trading portals equals a 20% to 25% house edge for a poker player. That by itself won't discourage an online poker player though, because he fully understands that this is but the basic equation, one that can actually be tampered with through skill, the understanding of market trends and through the mastering of various trading signals.

This is where educational portals such as Intellitraders.com come into the picture. Such sites will teach would-be traders various strategies and what's more: they will make sure that they do not lose money while learning. How do they achieve that? Through the daily expert trade alerts that they provide and deliver straight to the inboxes of newbie traders. Basically, all a beginner needs to do in order to turn a profit trading binary options is to heed the recommendations conveyed by the above said expert trade alerts.

While he does that, he should also get down to studying because the bottom line is that he won't be able to become a successful long-term trader based solely on alerts provided by other people.

The world of efficient binary options trading strategies may seem extremely daunting and intimidating at first glance, but for someone already versed in the art of odds and probabilities, it is willing to reveal its secrets quite readily. Once they gain a grasp on the most basic concepts like trading signals and various ways to put these signals to use, binary options trading will simply suck in traders, who will find themselves thirsting for more, knowledge- as well as profits-wise.

Binary options portals like binaryoptionsfree.com will introduce players to concepts like the Triangle Touch method, which is one of the simpler ways to find and to put trading signals to use. As a binary options trader, an online poker player needs to be prepared to work quite a bit with charts and statistics. Again, savvy poker players should have all these basic skills in the bag already. Trading signals are basically nothing more than various chart patterns which can be used to foretell the nature of the signal. Signals are of two basic types: bullish and bearish, and despite the apparently random nature of the trading signals, there is a solid reason behind why the price of a currency, or commodity moves one way or the other.

An ascending triangle pattern for instance is a pretty solid indication of an upward breakout. The tendency foretold by the ascending triangle is therefore bullish.

Likewise, a descending triangle pattern predicts a bearish movement, one that even beginner traders can capitalize on through the use of a touch/no touch option.

For beginners, all these concepts are probably a tad intimidating but once one reads up on them, he or she will soon realize they are in fact quite simple and straightforward and they're all rooted in similarly straightforward logic.

A strategy such as the one I superficially touched on above is wonderfully suited for beginners because besides allowing them to generate profits, it also wonderfully illustrates the logic behind binary options trading strategies.