House Money

[u21c3f6]

Quote from munnyhunny:

That does not explain anything to the uninitiated.
For them there is no difference between you and the professional gambler who also makes money consistently.
The difference is statistical probability and approach, and that is what needs to be explained.

I use the same methodology to place my live sportsbook wagers as I do for my options trading.

Joe.

 

[redondoman]

Quote from trackstar:

Please explain how it isnt gambling? I'd love to also have a certain probability edge....

No matter how you slice it you are betting on a uncertain outcome.

Good traders have a quantifiable predictable statistical edge. We adhere to very strict discipline, rules and do not let emotion creep into our trading habits. That is was differentiates us from gamblers.

 

[u21c3f6]

Quote from redondoman:

Good traders have a quantifiable predictable statistical edge. We adhere to very strict discipline, rules and do not let emotion creep into our trading habits. That is was differentiates us from gamblers.

Good gamblers have a quantifiable predictable statistical edge. We adhere to very strict discipline, rules and do not let emotion creep into our gambling habits. That is (what) differentiates us from (poor) traders.

Joe.