How many of you also gamble (deliberately)?

[LeTiss]

If you make a profit consistently at gambling, you don't become an investor - even if it does sound better when explaining it to your mom or the girl down the pub

Yes, in my experience, telling a girl that you gamble for a living is not a knicker ripper

[northbound]

So...

- If you just want to bang the bad girl, tell her you’re a gambler

- If she’s relationship material, tell her you’re an investor

- If she’s an ugly one you just want to get rid of, tell her something boring such as “I work in risk management”

[ShaunWhite]

If you make a profit consistently at gambling, you don't become an investor - even if it does sound better when explaining it to your mom or the girl down the pub

Yes, in my experience, telling a girl that you gamble for a living is not a knicker ripper

Depends if you drive a Lambourgini or ride a bike. What girl doesn't swoon at a guy in a dickie bow walking out of the casino in Monte Carlo with a fat wallet.

Maybe you need to ugrade your ride LeTiss and swap your whippet for an afghan hound

[LeTiss]

So...

- If you just want to bang the bad girl, tell her you’re a gambler

- If she’s relationship material, tell her you’re an investor

- If she’s an ugly one you just want to get rid of, tell her something boring such as “I work in risk management”

You're wasted northbound

Perhaps you should start a business........how to get laid with Bet Angel

[LeTiss]

If you make a profit consistently at gambling, you don't become an investor - even if it does sound better when explaining it to your mom or the girl down the pub

Yes, in my experience, telling a girl that you gamble for a living is not a knicker ripper

Depends if you drive a Lambourgini or ride a bike. What girl doesn't swoon at a guy in a dickie bow walking out of the casino in Monte Carlo with a fat wallet.

Maybe you need to ugrade your ride LeTiss and swap your whippet for an afghan hound

Damn

Nothing to do with my profession after all, it's the Vauxhall Insignia that's ruining it for me

Cheers Shaun

[northbound]

Perhaps you should start a business........how to get laid with Bet Angel

Laid Angel!

[ShaunWhite]

Nothing to do with my profession after all, it's the Vauxhall Insignia that's ruining it for me

I think in the property game it's called 'kerb appeal'. I met my first missus outside a club cos she was sat in the bonnet of my car waiting to see who owned it. It was unreliable and nothing but trouble, so was the car.

[Euler]

PMSL

[Euler]

I understand slippage, I just don't understand how we can know that individual selection X is a value proposition at any given price, although I totally accept that the maths and mechanics prove that those situations exist in almost every minute of every day.

Every market has a harmonic mean and when the price varies from that it creates value.

Imagine a group race with two horses of equal ability but one gets backed off the boards, forcing the price on the other to drift. Which one is back value?

[LeTiss]

I think in the property game it's called 'kerb appeal'. I met my first missus outside a club cos she was sat in the bonnet of my car waiting to see who owned it. It was unreliable and nothing but trouble, so was the car.

That shows you're a man with far more decorum than me - I would have added it was a good ride

[ShaunWhite]

Every market has a harmonic mean

Cheers, that's the nugget. I sense more reading on the way.

[ShaunWhite]

I would have added it was a good ride

Yeah the ride was firm and responsive to start with....fill in your own punchline.

[ruthlessimon]

Every market has a harmonic mean and when the price varies from that it creates value.

Imagine a group race with two horses of equal ability but one gets backed off the boards, forcing the price on the other to drift. Which one is back value?

Although the question is, where is the initial value (calculating the mean) taken from?

If something is backed off the boards late, perhaps it becomes a value lay bet; but not necessarily a value lay pre-off trade. I'll have to look at my stats again but I'm sure the large majority of "big movers" simply don't have time to reverse their full distance - although there's a high chance I'm defining the "start point of the big move" differently to how'd you measure it - hence why I think confusion of definitions/terminology is a bigger component of failure vs psychology.

& if the price doesn't move after laying it - surely that means the price was fair & not value (pre-off)?

[ruthlessimon]

For May (so far) it's actually come out as a positive correlation

The more the fav steams, the smaller the reversal (correlation of 0.2) - & it can just about be seen in the graph:



.. but I've taken fair value as 5mins (which is a very very big assumption)

[ruthlessimon]

I'll shut up after this one

but if we plot Peter's latest video on the graphs; here's where it'd be for May (even though the trade was Sept):



I think this confusion leads to so much unnecessary heartache - & such a large reason for people failing!!