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Funny you should mention that:
"Theoretically your best bet (apart from not betting) is to bet your whole
bank in the first bet then walk away. Pretty boring eh"
Two famous traders have done this, but did not walk away:
Larry Williams and Louis Borsellino.
Larry's big winnings took over 1 year.
Louis's big winnings took about 1 HOUR.
> -----Original Message-----
> From: Adrian Pitt [mailto:apitt@xxxxxxxxxxxxx]
> Sent: Thursday, July 04, 2002 9:24 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: RE: [RT] What happened to the Hurst cycle?
>
>
>
> Norman,
>
> Your right on all counts :-) I've encountered very few people who truly
>
> Understand risk in the total sense. There are so many aspects and
> nuances
> To it all it can be quite complex. Risk and exposure are two separate
> issue, yes...
> But they certainly have some overlap.
> I don't recall the article you refer to but those conclusions are
> ludicrous.
> If you have a positive expectancy system, and you don't bet more than
> twice the
> Optimal bet size, then theoretically the more times you bet the closer
> you will become
> To owning the world. If your system has negative expectancy then
> eventually you will
> go broke. Like going to a casino and betting on roulette. Theoretically
> your best bet
> (apart from not betting) is to bet your whole bank in the first bet then
> walk away.
> Pretty boring eh :-) LOL
>
> Adrian
>
> > -----Original Message-----
> > From: Norman Winski [mailto:nwinski@xxxxxxxxxxxxxxx]
> > Sent: Thursday, 4 July 2002 10:44 PM
> > To: realtraders@xxxxxxxxxxxxxxx
> > Subject: Re: [RT] What happened to the Hurst cycle?
> >
> >
> > Adrian,
> >
> > See the imbecile's reply below
> > ----- Original Message -----
> > From: "Adrian Pitt" <apitt@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Thursday, July 04, 2002 7:53 AM
> > Subject: RE: [RT] What happened to the Hurst cycle?
> >
> >
> > >
> > > Adrian,
> >
> > I think you are right, I am am imbecile. I believed those
> > articles in Stocks & Commodites mag about the risk of ruin.
> > They said the more you trade the greater your risk is of
> > going broke. You may want to study up on the difference
> > between risk and exposure. They are two different factors and
> > two of the most misunderstood concepts in the area of money
> > management. On the other hand, you would be a fool to take
> > any advice from an imbecile.
> >
> > Cheers,
> >
> > Norman
> >
> > P.S. I started trading in 1972. I ain't smart enought to
> > figure out how many years that is. Maybe you can?
> > >
>
>
>
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