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Hi J.C.
Look at it this way: If you and I where each betting 1 cent on the flip of
a coin, taking opposite positions, and if you had $1.00 and I had $10.00 we
could continue flipping forever. You might be ahead for a wile then I would
catch up and go ahead, and so on back and fourth, indefinitely.
However, if we raised the stakes to a quarter (25 cents) per flip, I would
have a distinct advantage since a short run of losses would wipe you out.
Now add 10% commission on you (the client) and 1% on me (the institution)
and you can see the distance advantage I have.
Good luck and good trading,
Ray Raffurty
----- Original Message -----
From: <JCDuffy@xxxxxxx>
To: <JCDuffy@xxxxxxx>; <ggautier@xxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxx>
Sent: Thursday, July 08, 1999 9:51 PM
Subject: Re: AW: Coin Tossing
> Okay, how do you introduce money management into a system that is either
win
> or lose, but no in between? I am intersted in this, if there is something
I
> overlooked.
>
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