Minimal return and I have a hard time believing

Discussion in 'Risk Management' started by r-in, Aug 27, 2010.

  1. pspr

    pspr

    19th century roulette wheels were not perfectly balanced nor constructed with perfect dimensions. Therefore, there we potentially greater probabilities for certain spots (numbers) on the wheel.

    Lottery machinery manufacturers have taken extreme measures to make sure there is no bias in the draw. Even down to making sure the weight of the paint for the numbers on the balls don't skew the randomness.

    Although, few things are truely impossible, I doubt anyone can create a system to net win at the lottery.
     
    #11     Aug 28, 2010
  2. nLepwa

    nLepwa

    You're not getting it.

    Whether he's ahead or not is irrelevant.
    The expectancy is still negative.

    Lottery is a random process. Draws are independent.
    Therefore no amount of analysis can lead to information concerning future draws (see gambler's fallacy).

    Ninna
     
    #12     Aug 30, 2010
  3. r-in

    r-in

    As an update, the guy is up $945. I will try to make it clear before anyone goes ballistic, it is a friend, and he just enjoys trying to beat things. I know the idea is that it can't be beat, I don't care, he is ahead, although by very little. He tells me it really isn't worth it, and he has thought about trying to go after more than the lottery he is playing, but actually does have a real life. He has whatever he does programmed, so it isn't time consuming at this point. He is moderately compulsive and extremely competitive which is why I think this is why he is still doing it, as he obviously hasn't hit a big one yet.
     
    #13     Jul 26, 2012
  4. Eight

    Eight

    you should read some books on how thought influences outcomes
     
    #14     Jul 27, 2012
  5. 007Arb

    007Arb

    Your friend could do the same thing and better with roulette wheels finding a bias. Or with counting cards. But is it worth it?
    Best to find a bias/trading theme in the markets and just go with that.

    Eidt: Oops! Just read the link in the above post. I guess some have figured it out. You also might want to read my favorite book of all time, The Luck Factor by Max Gunther. I got more out of that than the 400 to 500 trading books in my home library.
     
    #16     Jul 27, 2012
  6. Not if you drop the Copenhagen interpretation.
     
    #17     Jul 27, 2012
  7. "Beat the Dealer" was a good book and there were small cards in an envelope in the back.

    As a mental game, a person could learn one or more cards and then play with real money.

    this was long ago and silver dollars were used. I got some and sat at a table.

    as time passed I had to get a larger container and I gave my colleagues stakes so they could lose money sitting along side me.

    At some point I started to keep track of the dealers. They used a cricket to tell the dealer he was being replaced.

    I felt that if they replaced 3 dealers in 45 minutes, then I was peaking out in gambling using what was called "5's theory".

    When I retruned 20 years later, the casinos had learned more about stopping amateurs from winning from them. Most noticable was the way they changed the decks. Now they use four decks. The hands can also be played much faster.

    Lotteries work with some nice stuff for the players. A player can choose his numbers.

    In Montana, I always played Kino during the evening meal. I worked with scientists and applying technology to the problems of people with little disposable income (converting coal to energy without burning it and NCAT). Again silver dollars were used and you could choose the card you played with. So winning was more up to the player than the cage operator. People liked to watch me play just as the dealer supervisors did.

    In summary, there is a human element in most entertainment called gambling.

    the guys who found DNA (Watson and Flick) now work on consciousness as neuroscientists. (See Koch also)

    I looked at myself. Four wave forms are working in the mind. One is there to transfer stuff to the conscious. Sometimes when they hook me up, it takes over an hour to get me wired (and less time to unwire me because I get to do the scrubbing later) A test can last 8 hours. they are just checking as to why I stop breathing over and over. BUT they find out other things too.

    In trading to develop more advanced opportunities, I have been asked to answer questionsdaily continually for over a year. the focus ws on the same thing as the dealer supervisors focussed on in vegas.

    The MIT group that used the "beat the dealer" stuff (Watch the movie) were very particular about who did what on the team.

    So here a person is dialogging with a person who is using an existing dvantage. That advantage hs been explained.

    So today I played a joke in ET.

    Naturally, it has been very quiet since then.

    People can be different than you are. Because you're disadvantaged, you do have the right to be incorrect about others who are not like you. It is a very lousy idea to try to be like someone who is not like you.

    Finding DNA and finding how to "Beat the Dealer" were both thorough processes.

    Today, we know tons and tons more about consciousness. there are moe than the brainwaves for the conscious part of the mind. In fact, the most active parts of the brain is NOT the conscious part. These two parts include the non conscious part and the transfer agent from the non conscious part to the conscious part.

    I can see that flying the lottery ace out to my place would be neat, but all we would do is make money faster than blue turtle has thought up as yet......lol
     
    #18     Jul 27, 2012
  8. hey 007Arb, I bought the book on amazon kindle for PC (only 2 bucks) thanks for the tip. So far it is fantastic. I don't think they are talking about luck over here, but it is a subject I think about quite a bit. Thanks again for a very good book suggestion. He also has one called the Zurich Axioms, I will probably also read it after this one, his writing style is just perfect for a weekend late at night when the market is closed and I am thinking big (stoned).
     
    #19     Jul 28, 2012