“Billionaires have built wealth by finding places where they have an edge, identifying asymmetric risk/return opportunities, and betting big!”
This quote says it all.
As a poker player this is instinct. Results are always unpredictable, but your actions must be decision based, not results based, so who cares about the results?! Being able to assess the risk/reward implications for a bet is what enables professional gambling - of any kind.
In poker if I’m drawing to a nut flush on the river I know I have a 17% chance of hitting the winning hand. If I’m betting into my opponent/s I also have the implied fold equity added to my drawing %. It then becomes quite simple for me to approximate the pot odds required for it to be worth me bluffing into my draw.
If you look at the result you will see that I would win the pot roughly 30% of the time in that spot, but the point is that I must make considerably more from those wins than the hits I take the other 70% of the time when I lose.
It’s the same philosophy in scalp trading, day trading, investing, sports book gambling, poker or even card counting at blackjack. You can beat the games by understanding the shift in risk/reward and using bankroll management to cover the swings of unpredictability.
% of profitable decisions is irrelevant, it’s only % profit that matters.
Given that a rising tide lifts all boats I would be very surprised if 90%+ of the ‘traders’ on polo aren’t already profitable for this year.
I suspect most people would rate SAFEnet’s chance of abject and total failure at somewhere between 10%-90%, depending on their level of optimism. If you look at the upside of success it becomes quite clear the potential factoral returns are quite ridiculous. If SAFEnet potential was limited to doubling your money it would be a terrible bet. Considering its market cap could reach trillions it is one of the best risk/reward bets I’ve ever come across.
Clearly where the cross hair is going horizontally see how many peaks we have at the 20k that’s the resistance at the moment
So lots of short traders really fighting with their position there. I’ve got a bot buy consistently and got a good average so far; but not hitting this manually since last week… but looks like those short traders should give up already even reminds me of the rise from 5k satoshi
@jabba I think you’re right we’ll rise into the 24k but we’ll see if it gets overwhelmingly flush with margin selling… I hope otherwise; we shall see.
@powersign what do we do if cloth money is worthless hehe
maybe let’s denominate potatoes and rent in Safecoin skip the cloth monies; cotton is for clothing not currency in that perspective we haven’t evolved much past the seashells
Hahaha I don’t know how I’ve come this far without hearing the term “cloth money”, but I love it, and I will now steal it from you and claim it as my own
A worldwide potato monopoly backed by safecoin! Muahaha, nobody will have delicious potatoes without transacting in safecoin
@powersign in Foreign exchange they quote a commission rate in terms of 1 billion units of currency called “yards” when you buy cloth you buy it in “yards” … 10 yards = 10 billion units of currency
How it operates is: you give it an interval of time in seconds, and a maximum quantity to buy or to sell, and every time the interval elapses it will check what the first order is on the book and take up to the maximum quantity you specified.
So for example: if you want to accumulate up to 10 maidsafecoins every 10 seconds it will check the order book every 10 seconds and buy what ever is there, or up to a maximum of 10 maidsafecoins.
And the same works for selling.
supported with 11 of the pairs on poloniex.
simply clone, then
Traders, including me, closed their long and bought more again lower. The accusations of insider trading are laughable. That whole dump was less than 12 BTC. Can you blame me for getting as much MAID as possible? It’s oversold, I sell, people panic, I buy. Traders gonna trade.
in that perspective we haven’t evolved much past the seashells
