If you know the variance you can predict the distribution of prices with corresponding probabilities.
Bookmakers are so good at setting the odds for each outcome so i doubt one can be profitable in horse betting.
the answer is lot simpler than everyone suggests.. in horse racing, your odds of winning are 1/n where n = number of horses. In trading your odds of winning are 2/3.. why, when you guy something at a price, the price can only go up, down or side ways. You lose only if the price goes down and that too you can control how much you want to lose. If price goes flat, you make nothing but if it goes up, you have the option to hold it as high as it goes.
Not true. Only if you are trading commission free. The vig is what kills most traders. All scratch trades are losers. You need to change your outcomes. W is a win, L is a loss, B is breakeven and X is your commish. 1) L+X negative outcome from losing trade 2) B+X negative outcome from beakeven trade plus commish 3) W+X negative outcome from winning trade if X is greater then W 4) W+X positive outcome from winning trade if X is less then W 4 possible outcomes. Only is in your favor. This is why trading has a 90% failure rate. Que EMG!
Maverick74, I learned something from your posts. You have a very good logic thinking and analysis skills. Thank you.
Quote from Maverick74: That's false. Very few handicappers bet on horses to win. They bet on horses to place or show. ===========================================\ Now why would old mav want to come here and make a horses ass of himself with a statement like this? We know that most ET posters are posers and frauds when it comes to the markets, but they usually limit their ignorance to stocks and options. maybe a little foolish forex thrown in. This statement proves that the ignorance extends well beyond Wall St,
yes well, what u say is true, but you fail to say that you can easily get back 5 or 10 times your money when you win. and 100's to 1 if you play exactas and other exotics,