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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call
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To: Win-Lose-Draw who wrote (11387)6/15/2003 1:46:37 AM
From: Sojourner Smith  Read Replies (3) of 11447
 
The Grand Martindale from roulette and craps.
Even though the odds of coin toss are 50/50
there is from what I have read only between 6 and 8
same event can occur in a row in a 50/50 probability game. I bookmarked a site explaining this and I would have to search for it. Here is an example how the game would work:
start with 100,000 and wait for 3 tails in a row.
bet 1,000.
heads comes up.
lose 1,000.
bet 2,000.
heads comes up.
total loss 3000
bet 6000.
total loss 9000
bet 18,000.
tails comes up.
win 18,000 - 9,000 prior losses.
total win 9,000

That was after 6 tails in a row.
But the betting amount could be lowered with the highly
unlikely event there were more than 10 tails.

Of course in craps and roulette (which I have never played) there are table limits and a slight edge to the house.
So from what I am told one could make some pocket change
using the above technique.

The trouble with using this with stocks is the payouts
and the losses are not fixed unless one uses a stop.
However with a pairs trade on say indexes, I believe a setup
could work.

In last months active trader there was system that used a
sizing technique based on something similar to the above
and doubled the profit and only slightly increasing the drawdown.
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