Most losers in a row you have had?

[athlonmank8]

Quote from syswizard:

Interesting commentary and here is a good article on the subject:
http://www.absoluteastronomy.com/topics/Martingale_(betting_system)
* In 68 spins there is a 50.3% chance that you will lose 6 times in a row at roulette.
* In 150 spins there is a 80.6% chance that you will lose 6 times in a row at roulette.
* In 250 spins there is a 95.3% chance that you will lose 6 times in a row at roulette.

Does anyone have the math on the above ?

Nice makes me wanna go spin the wheel.

Really keeps things in perspective about positive expectancy and positive outcome bias.

 

[athlonmank8]

Quote from syswizard:

I had ten.
When ? Spring 2007
What ? Russell 2000 futures
Why ? I was shorting into a maniacal blow-off top.
Lesson 1: markets move in one direction further than one can imagine.....and this is important: FOR NO REASON.
Lesson 2: tight stops kept me from losing a fortune.
Lesson 3: tight stops suck because you lose quite often, but see Lesson 2.

W/L $$$ is the kicker. HOWEVER commissions can really toss a wrench in there as well.

 

[dtrader98]

Quote from athlonmank8:

Nice makes me wanna go spin the wheel.

Really keeps things in perspective about positive expectancy and positive outcome bias.

http://www.socr.ucla.edu/htmls/SOCR_Experiments.html

Go to roulette experiment and knock yourself out.

(set it on double play button update 1 and 1000 trials, watch the distribution unfold).

 

[Index piker]

Let's don't forget that market returns are not a bell shaped curve.

So the magnitude of your losses will tend to be larger, well unless of course you are "special".