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Profit Guilt
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Profit Guilt

  #41 (permalink)
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josh View Post
I think you probably rub others the wrong way a little bit, because you sound a little bit smug and have a bit of a naive view of certain things. No disrespect from me though, best of luck to you.

Thanks. I believe having a holistic, empirically derived INDIVIDUAL world view is absolutely necessary to being able to make rational decisions. Everyone has a reality, and they would like to believe that reality is THE reality-and when things come up that don't match up with that reality, the emotions start. That's why I look at everything from an intent standpoint. What does this person stand to gain from making this statement, what is he/she communicating about their emotional mental state. I believe this is all translated into market behavior, and that it is reflected in our instruments.

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  #42 (permalink)
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That guy was clearly here only to troll, and is now banned.

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  #43 (permalink)
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Big Mike View Post
That guy was clearly here only to troll, and is now banned.

Sent from my phone

Yeah, sorry to feed him. Really thought I was trying to help him til the last post.

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  #44 (permalink)
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JerseyJim View Post
Not true. In my own trading I am the ultimate rule maker with total control. Trading begins and ends with me. If the game changes and I don't have an edge anymore I don't play. I find someplace where I do have an edge (or my previous edge will perform) and trade there.

"The house" is always open for business. It doesn't have to find new places to do business. It has no human emotions to interfere with probabilities. It puts money at risk with a guarantee of a positive return, given a sufficient time horizon and proper capitalization. It designs the game, and sets the edge it holds in each game.

You may, as you said, have to suspend business if your edge is not present. You have human emotions that interfere with your edge. You have no guarantee of a positive expectancy, because, while you can choose which game to play and how much to risk, you do not define or control the game, and thus your edge is variable.

You have total control over yourself, but you have zero control over the game. You are not "the house."

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  #45 (permalink)
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Big Mike View Post
That guy was clearly here only to troll, and is now banned.

Sent from my phone

op's moniker was an obvoious misnomer; should have been "dark stool"!

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  #46 (permalink)
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josh View Post
"The house" is always open for business. It doesn't have to find new places to do business. It has no human emotions to interfere with probabilities. It puts money at risk with a guarantee of a positive return, given a sufficient time horizon and proper capitalization. It designs the game, and sets the edge it holds in each game.

You may, as you said, have to suspend business if your edge is not present. You have human emotions that interfere with your edge. You have no guarantee of a positive expectancy, because, while you can choose which game to play and how much to risk, you do not define or control the game, and thus your edge is variable.

You have total control over yourself, but you have zero control over the game. You are not "the house."

Again, untrue. In the past 10 years I have never been closed. Yes the possibility is there but it is also there for any other "house". Would you like a list of casinos that have permanently closed their doors? Casinos do close due to being unprofitable. BTW they also have human emotions in the form of the people that own and are employed by them. Their probabilities are not completely guaranteed... that's why they spend so much money on security. They also don't get to completely control their game... they have state and federal regulators that can change the rules at any time. There are variables in every business including the gaming industry.

I design my game(s) and have just as much of a guarantee of positive expectancy as any casino does as long as I'm playing. In fact, the longer I play the game the closer I get to those values (just like the house). Every part of my "game" is researched and systematized, including my risk. I can tell you exactly how much I expect to make (on average) for every trade placed. Over the past 8 years these numbers have been eerily correct.

I don't expect you to agree with me because for whatever reason you have your own beliefs about this, but I hope you can see that my analogy of being the house is a lot closer to truth than not.

I am the house.

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  #47 (permalink)
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Big Mike View Post
That guy was clearly here only to troll, and is now banned.

Seriously. Profit guilt? Now I've heard everything.

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  #48 (permalink)
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Zxeses View Post
Fair and moral have absolutely no connection. "fair" implies justice. Moral has nothing to do with justice or fairness. Moral is based on Love and is what is best for people, and many times justice and fairness have nothing to do with that. Just because the two co-incite with each-other often enough does not equate equality nor parity.

This may sound like a semantic argument, but definition here is important, there is no morality in capitalism, no matter how fair or just it is.

Trading is nothing more then one mans wisdom against another, regardless of what is exchanged -- money, wives, camels or gold...

LMAO Morality is most definitely NOT based on love. Ethics is a matter of utility (the Utilitarian theory i.e. John Stuart Mill) or respect for reflexive rationality (i.e. Kant's deontology), or simply a matter of functional virtue (i.e. Aristotle and the Greeks).

Stop embarrassing yourself.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #49 (permalink)
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JerseyJim View Post
Again, untrue. In the past 10 years I have never been closed. Yes the possibility is there but it is also there for any other "house". Would you like a list of casinos that have permanently closed their doors? Casinos do close due to being unprofitable. BTW they also have human emotions in the form of the people that own and are employed by them. Their probabilities are not completely guaranteed... that's why they spend so much money on security. They also don't get to completely control their game... they have state and federal regulators that can change the rules at any time. There are variables in every business including the gaming industry.

I design my game(s) and have just as much of a guarantee of positive expectancy as any casino does as long as I'm playing. In fact, the longer I play the game the closer I get to those values (just like the house). Every part of my "game" is researched and systematized, including my risk. I can tell you exactly how much I expect to make (on average) for every trade placed. Over the past 8 years these numbers have been eerily correct.

I don't expect you to agree with me because for whatever reason you have your own beliefs about this, but I hope you can see that my analogy of being the house is a lot closer to truth than not.

I am the house.

one of the most specious arguments, i have ever read; although i do like your subs. just because you claim to be a player that has built positive expectation into his game, doesn't make you the house. and, it certainly doesn't mean that you possess an edge, certainly not in the literal sense. all it means is that unlike the majority of other traders, (who are their own worst enemy) you have developed a reason based approach to trading that is not driven by emotion and bias. that certainly does not qualify you to claim to be the house. you are just a player who is a willing winner, who occasionally loses. the minute you think you think you have an edge over the market, or you are even on a level playing field with market, the closer you are to ruin. eight years is a drop in the bucket in the life of a trader, especially ones who does not recognize that humility is the most powerful currency to prevent the house from collecting a larger toll than you should pay. the market will eventually evolve from it's current state to another vastly different form, and it is you, the player, who will have to adjust. the market is the house.

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  #50 (permalink)
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Anagami View Post
LMAO Morality is most definitely NOT based on love. Ethics is a matter of utility (the Utilitarian theory i.e. John Stuart Mill) or respect for reflexive rationality (i.e. Kant's deontology), or simply a matter of functional virtue (i.e. Aristotle and the Greeks).

Stop embarrassing yourself.

Ack! You spit out Athiesm as if it were fact, that perverts like Aristotle even know what love is, much less the origin of morality. This is clearly off topic, so my only direct reply to your insult is... I love you.

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