Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Moominoid who wrote (68020)	8/23/2005 11:49:04 PM
From: shades	Read Replies (1) of 74559

He also took a 100 dollar bath in WMT - he has said many times - you will lose money on more than you make money on - but the trick is to cut your losses fast and ride your winners home, but the percentages long term work out that out of 10 trades - losing 100 dollars on 8 trades is OK if you make 1000 on 2 trades - he plays the probabilities like dat - like the blackjack player going for the long term percentage play - 51% long term makes you rich - 49% long term makes the house rich. He is not trying to get rich quick - get rich slowly I think - is that not a good idea? hehe Slagle said he shorted, he probably made big money - I am still holding - my stop was at 35 - I lost shorting SIRI a ways back too. I lost some shorting GOOG too - but I had stops and that saved me from losing more. I think phil admits he cannot predict where the big boys are gonna rotate the money into, so he plays the probabilities to catch thier money movements - fundamentally you think this is foolish? hehe Did Cramer have a stop point for DICKS? What is his strategy long term? You look for the golden means - phil plays the probabilities. Now I have watched a lot and read a lot on these professional blackjack players MOO - some have become super rich playing ther probabilities long term and making that 51% of the time winning make them rich - I have not read about ONE that is looking for waves or nautilus shell patterns in the disribution of the deck and have turned that into making them rich - why MOO? I have not heard one casino say they got super duper rich because of less entropy - or more golden means analysis type stuff - but only because they have games that over the long term give them the slightest edge over their customers. Many state governments have also gotten into this racket with LOTTERIES - no where do I hear talk of WOLFRAM type stuff and cellular automata type anaylsis looking for the nautilus shell - hehe.

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