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quanttrader714 wrote:
> Where are you getting random systems from? Van Tharp specifically
> says that a system must have a positive expectancy to make money. In
> other words, an edge. Nothing random about that. Does this mean the
> concept of randomness has no valid role to play? Absolutely not.
Mark, expectancy is only drawn from a *random* variable. You should know
its distribution. How do you know its distribution? It's subjective, it
doesn't 'exist', you guess it, it depends on information.
Be careful not to confuse randomness with zero expectancy.
Franco
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