Ray Bitar and Bright Trading
- Thread starter lwlee
- Start date
The 2 prime differences between poker and most of the rest of the action in a Vegas casino are 1) that you are not playing against the house and 2) if your game is good enough you can indeed have a positive expectation from your play.
I am long term profitable in both my trading and my poker. My comps come from my action not from whether I am profitable or not - just as it is for the rest of the casino offerings.
Given online poker, there are thousands who make their living from poker. As the bets on either the crap table or the wheel carry a negative expectation I don't believe there is a single player in the world who makes their living from straight play in a square game of either.
Admitedly the odds of success are better at Bright than the crap table but for a beginning trader, I don't think they are a whole lot better.
Jack
It does seem that I have accomplished something here, Mr. Jack seems to have a purpose in life, glad to accommodate. Ah, this is all such a waste of time. I addressed the Ray Bitar issue, let's get back to trading. If people want to come to Vegas and gamble, or play online, knowing full well that that most lose, then so be it. Same with trading. Should someone not learn how to count cards or play poker better? Of course. Should they not learn about trading from experts, sure. Big deal.
Hey Atticus, any Vegas trip coming up?
All the best everyone,
Don
Fair enough Mr. Jack. As you seem to be aware, comps are based on average bet and hours played. When we play, we take the comps into consideration. If we are playing baccarat, with a slight negative edge, but we get fully paid trips to Europe or cruises or something like that, then it "can" make sense to play. Poker is entirely different, you have play a long time to get even a nice dinner since, as you noted, we are playing against one another with a small rake to the house.
As far as trading goes, it's like learning about flying a plane or driving a car IMO. You really need to learn the "actual" basics, not some nonsense in most the books I've read. We do our best to show people all those basics from FV and PREM calcs to smart order routing etc. We do get into the particular automated strategies and the new software that can be tailored to the particular trader (this time for sure) and this changes quarterly it seems.
Anyway, sorry if I sounded like an ass in the previous post, was just playing around.
All the best again everyone,
Don
tournements are very attractive to those of us that aren't very good players, because the max loss is predetermined, and if you can come up with the entry fee you aren't gambling away your retirement account if you go all in, and occassionally it is possible for a bad player to just get lucky over a short amount of time.
No way Excalibur is spreading anything over 2/5. 2/5 would actually surprise me. Seems only a handful of casinos spread 2/5+. Wynn. Venetian. Bellagio. Aria. MGM sometimes. Etc.
I actually have this quote saved in a photo album I have
called "stuff to remember". Nice post