Life is funny, The pro-gambler (miss spelt, the spell check pops up programmer) Has a strategy he happened to over hear. (maybe it wasn't luck, and a bit of brains were involved). Luckily, he can afford the petty fess to gamble and back test as he is American. The Gambler has tried EVERY strategy he can think of and also ones he heard, but has not come across the correct "one". He is close, but after 5 years, he is being told to quite as it has taken its toll on his family, He is told the right thing to do is quit. But the progambler at some point was put in a situation where he could gamble also he was given an open mind at that point in time. Meanwhile, in a Muslim country that has no gambling, exists a man with a head that is out of this world. In some aspects it is kinda like Einstein's. It is engineered to handle gambling on a whole new level. It has the capability to create a formulae that will blow our mind. The formulae is so significant that it will take all current probability ideas and group them in a category called "the probability era". This era will be known for its iconic revolution called the average. The formulae will explain so much. Unfortunately, the brain is currently preoccupied calculating the odds of a missile falling on his family. He has developed a good strategy to avoid the random carpet bomb. But has no idea what he has developed nor does he care about its implications beyond saving his family. Luck is something we label things that we find amazing. Unfortunately we are too used to people being born in different situations and being exposed to different things. So, if being born in one of few countries where one can sit on his chair and work things out is not luck, then no. its not luck. Understand that we on here are the selected few that have been given the time to try to figure this one out, how smart we are has little to do with it the knowledge we come across usually is more important. I good trader is not one that is good at trading, it is one that is good at going through information and sorting through it in an efficient manner, seeing the trends of marketers and understanding peoples attention while always testing ideas. ... Then they are the creators that create before their life has expired. ------ Shame on me for wasting my time writing this long nonsense. I guess without a cable it is understandable lol.
What, no Trade Management? I consider that the best edge of all. Takes a serious amount of work to develop, but once you have it you never lose it, unlike some of the other edges that ony last until some big player figures them out or the whole world learns about them. For the 'it can't be done' brigade, I'd like to share this bookmark. Second last post. Ranks right up there with Columbus, Drake and Magellan falling off the edge of the earth. http://www.elitetrader.com/vb/showthread.php?s=&postid=3665538
I do not see the significance of the second to last post of the above referenced thread. I do think that this post from Atticus is a keeper:
That is exactly the post I was referring to. It is indeed a keeper which is why I bookmarked it. Not sure why it is not the second last post for you (and others probably), perhaps it's either the page settings on preferences or that I looked at it on a mobile device.
That entire thread is one page for me, so you really need to be more specific. The best would be for you to quote the post, so that there can be no mistake as to which you are referring.
The statement "Trading is Gambling" is an example of "Affirming the Consequent": http://en.wikipedia.org/wiki/Affirming_the_consequent So, the logic is flawed by saying: The truth is: Gambling is participation in high-risk activities that are easily avoidable. Professional Trading is to avoid taking on any high-risk positions. Therefore, to claim that "Trading is Gambling" is to prove you are still an Amateur. "A bad workman blames his tools."
I was rather fearing this. I looked for a permalink that would take one to the specific post, unfortunately we do not have that here.
After 20+ pages this is seriously starting to look like the cheap tables at a casino where all the people with dirty clothes go to blow their paychecks and egg each other.