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True, the casino's edge is theoretically small, but they win big time from
the aggregate stupidty of clueless players. Also they have deeper pockets
and more time to pound away at you (and on their turf). Ultimately, bad
players become even worse losers.
There is much to be learned from casino gambling that is transferable to
trading: money management, risk management, strategy and probabilities,
timing, patience...
-- John
On Sat, 20 Sep 2003, Gary A. Serkhoshian wrote:
> IMHO. Vegas Casinos are built on the idea of playing a game (system)
> that they have an edge on (however miniscule), and playing every hand.
> That is what profit factor tells you -- in the long run you should make
> X dollars for every dollar you lose.
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