so how you can know that i'm clueless about trading, if you can't say that it's not akin to poker, which was my whole argument?
it's not about "i didn't talk about the difference, like you said" it's about the fact that you need to know the difference if you want to say that i'm clueless
Well, I looked into what you might mean by +ev/-ev in respect to poker, and can only further confirm that
you are clueless about trading. The expected value (ev) can be in player’s favor in games involving not only luck but also skill. One of such occurrences is poker
where an experienced player can and should win in the long run (taken from
here). This is absolutely not the case with trading. A skilled trader (unless he himself is cheating) in the long run can only minimize his
losses by increasing the losses of the less skilled traders (-ev for all non-cheaters in a zero-sum game, and entropy for the rest of the world). He can't take profits from those who arbitrage the system. To avoid losses, he can only stay away from trading altogether or find ways to fuck (arbitrage) the system himself...
If you knew in advance what the price would be, there could possibly be no way that someone willing to trade with you would escape losses, no matter how advanced his trading skills might be
trading also do not involve only luck, but skill if you know how to do your strategy, both game are about being in a good position
even big poker player consider them akin, and you that don't know nothign about poker, pretend that they are different, or not equal or whatever you want
so no, the only clueless person here it's you....
btw minimizing his loss still mean +ev in the long term, otherwise if he was perennially -ev, it would not make sense to trade to begin with....
Oh, now I see you stopped blaming me that I need to "know the difference", lol
Losses are still losses, and someone ending up with less loss than the rest of the less lucky ones (or less skilled, which doesn't matter here) is still losing. It is just a question of time when you lose all to those who have an edge over you ("established profit opportunity"), since, as I said, you can't possibly take profits from them (no matter what your trading skills are), and they won't stop until you lose all. Some people seriously believe that there are winning strategies in Bitcoin casinos (martingale or something else), but every sincere Bitcoin casino owner will tell you that there are none. You can win big. Occasionally. And run away if you are smart. But you can't beat the house
in the long run. In trading, you can earn from less lucky for some time (that's the difference between trading and gambling), but ultimately you are still doomed to face the house edge (when the less lucky ones lose all and go home, or just go home)...
Because, as you yourself said, someone must be +ev and
the other are all -ev (emphasis added). You have stuck yourself in a corner
yes you need to know the difference before saying that someone is clueless when his only argument is about the difference between two things
it's seems very logic, and no brainer for me
i was talking about poker texas holdem especially, not casino
there are skill there in the long term, no matter how strong is the house, you can be +ev, the same is for trading, there are big name that made history in trading by remaining overall +ev
however i still believe that both share the same amount of luck, because luck is everywhere, no matter what you do, but this does not mean that there is not skill involved