Lottery is a fool's tax. However, a dude I went to high school with scored a cool $58 million dollars American in 1998. When they asked if he was going to quit his job delivering rebuilt transmissions to franchisees, he looked at them as if they were nuts and said "of course not". Held a straight face and the whole nine yards. What a stud. Little dry humor there for the tv audience to freak over. Of course he quit his job in no time flat. Thats about 1500 dollars a day spending money 7 days a week for 40 years i think. Get a genius to pull down some of that 500% a day and well, . . . lol. Seeing is believing. Is Expectancy for Lottery better than Our trading system? How do we know? Diligent Recordkeeping and a Spreadsheet, baby. -
Duh, that was the whole point of my post, and that's why I wrote "in unrelated news". It was written for fun. Though I'm glad you figured this out and now your logic looks great. Now go find something more fun to do where you don't need to look for logical problems in things that are designed to not be logical.
As an options directional trader, it is nice to think about the few 100% or more gainers you get. What they do not tell you is the huge losses too where you lose 50-80% which nullifies those gains! That is the reality of it. Only thing you can do is control your losses and cut it down. Then, you can make some monies. Lottery type $0.10 options going to $2.00 or more are like unicorns. You may luck out but, more often, you strike out since, you are way out of the monies! Probabilities way stacked against you!
" . . . Only thing you can do is control your losses. . . ." https://www. youtube.com/watch?v=kafk-TsZs_w&feature=youtu.be&t=516
Read this: https://www.dontwasteyourmoney.com/couple-found-loophole-lottery-made-27-million/ You just have to think out of the box. Same in trading. And Ed Thorp could win consistently in roulette too, just like he could in blackjack.
Was just watching You Tube videos and Timothy Sykes popped up, interviewing two students who claimed they are earning up to $100,000 now. Now, not clear how much capital they actually, put in the market. Both tried shorting shorts suffered huge losses as a result of it. Also, came close to blowing up their accounts. Day trading is not for everyone and there are huge risks. Nothing is ever so easy or everyone would be doing it?
Personally, I don't know any profitable day traders. I know several profitable swing traders. I have been making 30-40% per year for several years swing trading. I tweet my trades before I make them, so it's easy to verify my claim.