the pressure today is tremendous -i mean what i am putting on myself ,
my wife says get out -as my tos charts are down -and i have no backup-
may have to trademark my creekboy sweat towels -
going for a walk around the block
i cant remember when the last time i had a headache this bad
You Selected One of the Safest Routes to Deplete Your Account
Martingale Betting Systems (from Wikipedia):
Originally, martingale referred to a class of betting strategies popular in 18th century France.
The simplest of these strategies was designed for a game in which the gambler wins his stake if a coin comes up heads and loses it if the coin comes up tails. The strategy had the gambler double his bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake. Since a gambler with infinite wealth will, almost surely, eventually flip heads, the Martingale betting strategy was seen as a sure thing by those who advocated it.
Of course, none of the gamblers in fact possessed infinite wealth, and the exponential growth of the bets would eventually bankrupt those who chose to use the Martingale. It is therefore a good example of a Taleb distribution - the gambler usually wins a small net reward, thus appearing to have a sound strategy. However, the gambler's expected value does indeed remain zero because the small probability that he will suffer a catastrophic loss exactly balances with his expected gain. It is widely believed that casinos instituted betting limits specifically to stop Martingale players, but in reality the assumptions behind the strategy are unsound.
Players using the Martingale system do not have any long-term mathematical advantage over any other betting system or even randomly placed bets.
You just need to press the button. I further strongly suggest to read the book "The Black Swan" by Nicolas Nassim Taleb, which actually shows that improbable events such as a huge loss will usually arrive earlier than expected.
Last edited by Fat Tails; March 21st, 2012 at 05:23 PM.
fat tail -dont be upset that the pattern worked - i called the be short under 1395.50 -we hit 1395.25 and it fell - its no big deal - its a different ball game scaling out of big lots -if you read back you will see how they are scaled into also - please dont be upset -as you dont even know how this is being done -what if this is being accomplished through 6 different accounts and this is the accumlative effort-please keep watch on this -also what would you feel would be a nice profit on this system?
also what do you feel acceptable risk is for trades of this size?
p.s-i believe in free press -you will not be banned by me -i see your positive signs under your name -just be fair and dont bully me-thats all i ask-good luck in your trading