Scataphagos
Registered: Apr 2009
Posts: 9265 |
11-09-10 04:18 PM
Quote from ElectricSavant:
but blackjack is you and one other person, where the market and ITS BEHAVIOUR is a collective that you cannot control no matter how disciplined the market is...market behaviour and player behaviour are two separte thingy's...
Scataphagos how would you adapt to a changing market. would you "not gamble" less or more?
ES
The similarity between counting cards in BJ and trading... is when you KNOW the odds are in your favor, you bet... or bet bigger than normal for you.
The results of "one hand" or "this trade" are irrelevant... unless you foolishly "go all in"... any INDIVIDUAL trade/play is random enough to bankrupt the player.
It's not a matter of "control".... it's a matter of "probability". When the deck is known to be "in your favor", you need to get the money out. When the market is known to be "in the favor of a particular play", you also need to get the money out. DISCIPLINE is doing so. KNOWLEDGE is knowing "when the market favors a particular resolution of a situation".
You've been trading a long time, Michael... surprised you're still confused by this issue. How's Hogan, BTW? 
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