How lessons from playing poker can apply to investing [Video]

It is often said that without risk, there is no reward.

It’s a maxim that poker and chess pro Jennifer Shahade, author of “Play Like a Champion,” knows well.

“In poker, risk and calibrating risk is the name of the game,” Shahade said during the CNBC Women & Wealth event on Tuesday.

If you risk too much, you will lose your money quickly, Shahade said. If, instead, you don’t risk enough, you will also lose all your money, but very slowly, she said.

“It’s certainly about finding that balance,” Shahade said. “I like to tell women who aren’t as comfortable with risk that not taking any risks, that is a risk as well.”

When you play poker, you will learn that lesson, and hopefully be able to apply it to your life and finances as well, she said.

The most important takeaway is to know yourself, said Shahade, who relies …