Good gamers (card counters) can make good traders. When all the casinos have barred them from playing, we're there in Vegas, with everything they need to trade.
nice business model.....maybe you cold open up a trading floor next to a methadone clinic .....actually, I think that too many people treat trading like a slot machine and just bang out trades hoping of one extra turn....and they don't realize how poorly they are doing until its time to cash in.
does your risk manager ever have to control traders who either use too much of the firms trading capital per trade or whose P+L looks like the pacific ocean at high tide?
OK, what I intended as something light has really gone astray. 1. GOOD Card counters who play blackjack can and DO win at the casinos on a consistent enough basis to make a VERY NICE living. It's no secret that the founders of Bright started this way as well as other very successful traders. I'm talking here about people who are students of game theory, not slot players. 2. Casinos agree with statement #1 because they BAR these players from playing in their casinos. 3. When someone is barred from making their living the way they always have, they probably need to find something else to do and it helps if they can use skills that have made them successful in the past. 4. A lot of card counters are in Vegas because there's a lot of casinos there and thus a lot of opportunity to ply their trade. By the time they can no longer play, they've come to like Vegas and don't want to leave. 5. For those blackjack playsers so successful that they are barred from the casino, and wish to stay in Vegas, and utilize some skills that worked for them in card counting, we have a place for them. 6. These people are not gamblers, gambling is hoping and praying when the odds are against you. What they do is statistically find the edge and work it over the long haul, not just a few hands. We don't want gamblers, Barclays had one and look what happened to them!
Don,, congradulations...... nice article, seem highly favorable.... some one has to put a favorable spin on this sub-industry.... just keep on "keeping it real"....
....Uhmmm...OK......whatever you say....can you explain to me how CARD COUNTING...will help you get a fill from Isld or NITE????
From what I've seen the card counters gravitate to tape reading NYSE stocks, so I don't think it would help you get a fill from ISLD or NITE.
you are serious about this aren;t you? You really believe that card counting will train you to get better fills or read the tape on the Ny????? wow...good luck