[firewalker]

... how can you study your opponents if you don't know who they are?

When playing poker with friends, I find that in the game the most typical characteristics show up. For example, one guy who is always rather confident and perhaps a tad arrogant, will bet rather boldly and often out-raise another player, often without thinking what the odds are that his cards aren't as good as the other player's.

When playing online poker, it becomes more difficult imo. How can you analyze your opponents if you can't analyze body language, you can't read emotions. You can only observe their actions, the time it takes to make a decision. But there is less "bio-feedback" available.

In the markets you can gauge what the herd is doing by observing extreme moves. Highly emotional reactions are often translated in sudden sharp reversals, where the smart money comes into play. But what can you learn from studying your 'opponent' and should you really consider the other trader to be your opponent? In poker you are all fighting over one and the same pot. In trading, the only opponent you have is the person on the other side of your trade basically. But it's not because you are short and another trader is also short, there's only one person who can make money.

Having said that, poker is more focused on the individual it seems. The only thing that prevents you from making more money, is others taking it away from you (for example by stealing the pot). In trading, it seems better to consider yourself as part of the flow and to go along with whatever signals smart money gives, in terms of price/volume action.

[brownsfan019]

Good post FW. In online poker there are a few tools to 'sniff' out your opponent, commonly referred to as sniffers. These can actually be just as useful, if not more, when compared to reading a player live. It basically takes a lot of the guesswork out and provides analysis on betting patterns.

Here's a link to the one that I use.

There are other tools to use as well, such as Poker Pal and Hold'em Hawk.

So the next question or discussion is ... are these 'tools' of any benefit, much like a chart with indicators; or are these useful tools that can be used to make money?

I'm glad James opened up a poker area b/c I find it enjoyable to discuss.