Howard Lederer: On Poker and Trading

The closest thing I have ever seen on ET that is representative to what trading as a business should be, is the Bright OO strategy. Coupled with leverage and keeping your costs low, it behaves much like a business does. That trade is crowded now, but when done right, you leave _every_day_ with more money than you had at the beginning of the day after expenses. [/B]
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Well said.
 
Quote from Scataphagos:

Not the equivalent of a "bluff win" in poker.
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It's the exactamundo equivalent.

My record is intact. I've still yet to find a single person who's willing to say that they are wrong.

round of aplause
 
Quote from nitro:

That trade is crowded now, but when done right, you leave _every_day_ with more money than you had at the beginning of the day after expenses.
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I don't think the Bright's even claim this, I'm afraid you know not of what you speak.
 
Quote from Dustin:

I don't think the Bright's even claim this, I'm afraid you know not of what you speak.
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what do you mean, you can lose on the OO trade, when done RIGHT? wouldn't doing it right presuppose that its profitable otherwise it wouldn't be done? what am i missing??
 
I don't agree. In a hand, a day or even a month there is certainly a high component of luck. But over the course of a career there becomes almost no significant component of luck.

Quote from Scataphagos:



Winning at poker, especially no-limit or table-stakes, has a high component of luck.
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Quote from killthesunshine:

ledder err who?? who dat??

durrr :D

http://www.tomdwan.com/

take him on if you think your all that

"i play poker at full tilt poker .com" :D
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Whoa, that dude looks PSYCHO !!

no wonder he is a great poker player....

<a href="http://tinypic.com?ref=15qsqs5" target="_blank"><img src="http://i53.tinypic.com/15qsqs5.jpg" border="0" alt="Image and video hosting by TinyPic"></a>
 
Quote from Vertunyc:

what do you mean, you can lose on the OO trade, when done RIGHT? wouldn't doing it right presuppose that its profitable otherwise it wouldn't be done? what am i missing??
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OPG wins sometimes, and loses sometimes...it's not up to the traders skill.
 
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