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The Magic Cafe Forum Index » » The Gambling Spot » » Moves that will probably be in forte's new book (video) (6 Likes) Printer Friendly Version

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Peterson
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30 seconds is actually decent result. I will take it!
Cagliostro
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Quote:
On Feb 27, 2020, tommy wrote:
If one counts the cards it reverses their order.


That clinches it. You are every sharper than I ever thought, even in my wildest imaginings. Smile
tommy
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Your eyes are not so sharp as they used to be; even sharper you mean.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Cagliostro
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@tommy: Thank you. I stand corrected and appreciate whatever help you can give to an old timer.

Actually what happened is I was distracted. I was in the middle of a currency trade on the EURUSD, the London Market was just about to close leaving only the NY open, and I was looking to liquidate, either by moving my stop very close or manually closing the trade.

By the way, I closed the trade with a nice profit so I can live with the typo.

Believe it or not, that is really what happened. The trade required more of my attention than the post because my money was at stake, and quite a bit of money I might add.

Nice way to end the trading week. Smile
tommy
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Good luck to you in the big casino they call the market. We have done some currency trading; we bought some Reich Marks and cashed them in as Deutsche Marks. You might think the casinos and banks would be sharp enough to know the difference but we found some are not.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Cagliostro
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Quote:
On Feb 28, 2020, tommy wrote:

Good luck to you in the big casino they call the market.


Actually, luck has little to do with it. One has to be skillful enough to get an edge. No matter what game you play, whether it is poker, gin, casino table games, private card games, or trading the markets, you must have an edge over the other players to win.

Making money in the markets is in some respects very similar to beating casino gambling games. Let me digress:

While we don't discuss much about real world gambling and how to gain a winning advantage on this forum, in gambling and playing the markets, it is really about gaining an edge. (Simply mastering classic card moves in and of itself has little to do with being able to successfully get the money in gambling games. Most lack the courage or know how to actually apply their card moves successfully or their moves are of little use and not applicable to the gambling situation.)

In gambling games, one gets an edge by finding a loophole in the game structure or procedure (advantage play), playing better that your opponents, partnership play, cheating or any combination thereof.

The way one gets an edge in the stock markets, currencies, E-Minis, etc., is to follow the smart money...the bank traders, institutional traders, the big professional traders and market makers. These are the people that can move the markets at the right time, they can support the market and go long into panicky selling on bad news reports and sell large positions at market tops into retail trader euphoria and good market news. You ride their smart money coattails.

Of course, you have to know how to do that; maybe it is a little like reading good paper or reading tells. The smart money players leave tell-tale foot prints as they are going in and out of positions, It takes time and effort to learn how to follow this, just like reading good paper or becoming a very good player and you have to have the guts to buy when most people are selling and the financial news is bad, sell when most people are buying when the financial news is very positive, but it has produced a nice income for me for the past several years.

While it may not be as strong as playing paint or using a cooler, it is much, much safer. However, the similarities are striking between who wins and losses in gambling games and who wins and losses in the markets.

It is those with an edge over the others in any game that win, the smart money vs. the dumb money or the square johns vs. the pros.

This is more like casino game "advantage play," but doing so in the markets...and it is legit! Smile
tommy
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That is why I wished you luck.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
Cagliostro
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@tommy: So after my somewhat lengthy post above alluding to concepts that 95% + of market participants have no clue about, you perceptibly concluded that I am "lucky" for making an annual income from trading?

I love it. You are just too sharp for me. So sharp, that reading your post is like "death from 1,000 cuts." LOL

I should have known better than to try to compete.

Keep 'em coming. Smile
splice
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Given that the large majority of professional investors do not beat the market and that those who do during a period are not favoured to do so on the longer horizons, yes, you're quite likely lucky. See https://www.thesimpledollar.com/investin......uld-you/ . Some relevant excerpts:

Quote:
Whether you look at the past 3, 5, 10, or 15 years, only about 15% of all professional mutual fund managers were able beat the market.


Quote:
This most recent report looked at all the mutual funds that finished in the top quartile (top 25%) for returns in one year and tracked how they performed over subsequent years. It found that just 1.94% of those funds were able to maintain that top-quartile performance over three years, and a measly 0.34% we able to keep it up over five years.


Quote:
When these same mutual funds are evaluated over two consecutive five-year periods of performance, only 39.86% of the mutual funds that outperformed over the first five years continued to outperform over the second five years.


The smart money for us is not in trying to beat the market but in passive investing in broad index funds to match the market. But either way, none of this is really relevant on this forum.
Cagliostro
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[quote]On Mar 3, 2020, splice wrote:


Quote:
Whether you look at the past 3, 5, 10, or 15 years, only about 15% of all professional mutual fund managers were able beat the market.


Quote:
This most recent report looked at all the mutual funds that finished in the top quartile (top 25%) for returns in one year and tracked how they performed over subsequent years. It found that just 1.94% of those funds were able to maintain that top-quartile performance over three years, and a measly 0.34% we able to keep it up over five years.


Getting too far off topic, but mutual fund mangers are not professional traders.
reese
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I'm lost. Don't have those cards in my hand like you do. Just scrambling to make a buck as always.
tommy
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The market crashed today and it's going get worse when the virus shuts down businesses across the planet. You will be using your stocks and shares and books as toilet paper soon.

The first thing one needs to get the money is to find somebody with it and they are getting fewer by the hour.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
reese
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Yeah man. Tumbleweeds rolling thru my 3 stores. We're used & new. Tons of people coming in trying to sell their crap. But... I have regular appointments with former SF Bay Area Bookstore owners that sell me stock. I have to stop buying from them to survive. Sorry to hijack the thread. I'm gone. Best of luck to all of y'all.
tommy
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A pal of mine works for an Italian company selling marble and he tells me the whole country is like a ghost town now; they have more or less closed down everything but food shops. I am hopping they are going to close the casinos around here so we can get some private games. Smile
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
reese
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We almost closed all 3 stores but are going ahead with a skeletal staff. Most employees have left out of fear. I don't blame them.
tommy
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I am sure they will find a cure soon and good luck.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
reese
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Thanks man.
tommy
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If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
5ggg
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Good luck Reese

Stay Healthy everyone!!!
The Magic Cafe Forum Index » » The Gambling Spot » » Moves that will probably be in forte's new book (video) (6 Likes)
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