Mark Douglas Interview

This is a discussion on Mark Douglas Interview within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by cablemonster Do casinos make consistent profits without knowing the outcome of each individual spin of the roulette ...

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Old Mar 7, 2013, 5:09pm   #9
 
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Re: Mark Douglas Interview

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Originally Posted by cablemonster View Post
Do casinos make consistent profits without knowing the outcome of each individual spin of the roulette wheel?
excellent point.....BUT that is not a "direct" comparison as a trader-market relationship.....is it?

If it is, then everyone will be successful.....like the casinos....no?
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Old Mar 7, 2013, 5:12pm   #10
 
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Re: Mark Douglas Interview

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excellent point.....BUT that is not a "direct" comparison as a trader-market relationship.....is it?

If it is, then everyone will be successful.....like the casinos....no?
Why? If a casino allows card counters to come in and play as long as they want, then those casinos won't be successful, just like many traders.

Only casinos that don't allow this and don't allow excessive risk and ensure they have an edge will prosper, surely.
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Old Mar 7, 2013, 5:33pm   #11
 
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Re: Mark Douglas Interview

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Why? If a casino allows card counters to come in and play as long as they want, then those casinos won't be successful, just like many traders.

Only casinos that don't allow this and don't allow excessive risk and ensure they have an edge will prosper, surely.
Good point but not the point am making, however, your point is very relevant in the finer details.

so if we were to flip this:
we become card counters V casinos.....is this an acceptable comparison?

Card counters are smarter ones, they know the weakness of the system.....now.....can the same be found in the markets?.....is this not the REAL QUESTION here?

The only thing is we are not counting cards in the markets.....so what are we going to count instead?
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Old Mar 7, 2013, 5:48pm   #12
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Re: Mark Douglas Interview

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excellent point.....BUT that is not a "direct" comparison as a trader-market relationship.....is it?

If it is, then everyone will be successful.....like the casinos....no?
no it's not a direct comparison. thinking may be required.
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Old Mar 7, 2013, 5:52pm   #13
 
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Re: Mark Douglas Interview

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no it's not a direct comparison. thinking may be required.
Hence my original question.....which is still not understood!
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Old Mar 7, 2013, 6:07pm   #14
 
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Re: Mark Douglas Interview

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Card counters are smarter ones, they know the weakness of the system.....now.....can the same be found in the markets?.....is this not the REAL QUESTION here?

As in is there a direct mathematical edge that a card counter has? Not really, but having an edge in a situation can come in different forms.

Last edited by ffsear; Mar 7, 2013 at 6:22pm.
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Old Mar 7, 2013, 6:18pm   #15
 
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Re: Mark Douglas Interview

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Hence my original question.....which is still not understood!
@Triggerfish,

You always ask questions that will be of no benefit to you, or at least should not be anyway (or to anyone else). Obviously the questions you ask promote many different answers and that helps T2W but I cant see the relation of what you ask to help you in making money from the markets. Do nearly all your posts end with a question???? I'll let you decide.

Thats my interpretation of the posts that I've seen you write.

So....... Do you want to trade, I see you have been on this site for many years so your interest must have peeked by now. If it has then what in particular did you want to know, what do you want to trade in and what kind of risk/reward are you looking for etc etc.

Don't see this as a dig (its not) but if you are not from T2W to inspire posts to be written then ask something pertinent to your trading or trading prospects as appose to questions that will not help man nor beast make money from the markets. If you are a T2W bot then obviously continue but if you are a genuine human wishing to make a little from the markets then many on here will help you.

I've fully understood the analogy's that have been put on here and personally thought them very good.

I await you next post so I can help if possible with something specific and genuine.

PS: Not sure how this post will come across but is in no way intended to offend. My reasoning is that the length of time you have been here and the questions that you ask are somewhat very vague and almost like you've not read any of the other posts on here or anywhere else to that effect. But, like I said, no offence is meant and sometimes posts can be taken out of context and on many occasions misread by many.

Lee
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Old Mar 7, 2013, 7:27pm   #16
 
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Re: Mark Douglas Interview

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Originally Posted by Shakone View Post
Why? If a casino allows card counters to come in and play as long as they want, then those casinos won't be successful, just like many traders.

Only casinos that don't allow this and don't allow excessive risk and ensure they have an edge will prosper, surely.
all very logical and correct,but there is no true comparison. Card counters are stopped by the casino and more recently they are set up so that you cant have an edge at anytime.
A trader can trade where he likes and with whom he likes and theoretically can go on winning and winning. Even when we start trading we beleive we have and edge after reading one book,but surely that doesnt apply if we go to the casino,a gut feeling for red17 cant be the same feeling as my favorite pattern.

Ive probably gone of track a touch,sorry
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