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A table limit is a problem but if you start small ($2), you can go
2,4,8,16,32,64,128,256,512, etc. and hopefully recoup before you go much
further. I've actually done it on two occasions and made money once and cut
my losses the second time. I wasn't suggesting this as a viable gambling
technique (since there is no statistical advantage), but then again I didn't
originate the idea either so I don't feel too bad. I feel stocks are much
easier to make money at than gambling anyway. Dave D.
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Al Taglavore
Sent: Jul 13, 2001 10:29 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Naz 100 futures buy and hold system
It will not work in blackjack because of the table limit: at one point in a
losing streak one could/would reach the table limit and would not be
allowed to double the bet. If one were to define this play to the pit
manager, the casinos will ply you with free drinks, comp you for fine
dining and offer you a luxury room even on the busiest of week-ends. One
would be a preferred customer.
Al Taglavore
----------
From: David DeFina <ddefina@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx
Subject: RE: Naz 100 futures buy and hold system
Date: Friday, July 13, 2001 9:53 AM
I've used a similar methodology in Blackjack, except doubling my bet each
time I lose. It works great some of the time, but long losing streaks are
painful.
I wonder if anyone has any thoughts on the following system.
Assuming one has the necessary capitalization and patience, would it work?
Rules
1. Go long only.
2. Buy the front month Naz emini at 1800, 1700, 1600, 1500, 1400, etc. all
the way down or all the way
up!
3. Sell each contract only when it reaches a 100 point profit.
4. Rollover if necessary.
This is a strategy widely known as "scale trading".
It takes a lot of capital to make it work. You also need to use "last in -
first out" accounting.
The hidden danger is a prolonged down market where you wind up holding a
huge
position of big losers and run out of capital. It also violates the common
axiom of "cut your losses and let your profits run". This strategy holds
losers forever and always takes small profits.
It might work in particular circumstances but be careful about using this
strategy on a regular basis.
Chuck LeBeau
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