Millions by the Minute

http://www.bbc.co.uk/iplayer/episode/b04j525k/traders-millions-by-the-minute-episode-1

Have just watched this show on Iplayer.

Its ok, but, was interesting from a few standpoints.

Firstly, the traders featured, were declaring expected daily win rates, of maybe $1-2k. I thought this was low, but leave that aside for a moment.

Its does highlight, that most successfull traders, don't often have home run wins, where they win a gazillion. Instead, they tend to repeat, smallish type wins. Obviously, the smaller wins have less risk, and add up.

This is a methodology I tend to repeat in my sports trading. I do have home runs, but, rarely lose .. at least lose a lot .. and, it does add up.

If u get a chance, read the 'Wizard' books, by Jack Schwager

.. http://en.wikipedia.org/wiki/Market_Wizards

They are interviews from super traders, and their methodologies are worth reading.


It was also apparent traders feel they can now trade from home, on, a not uneven playing field, and if u search youtube, u will find many traders, showing videos of how they trade.

I have often wondered what 20 hours of a successful sports traders videos would be worth .. probably quite a lot, but, its hard to make people think its worth it  (if they are gonna pay, for the privaledge).

I like the route, Mark Iversen has taken with CricIntel.

http://www.cricintel.com/

By trying to get a different revenue stream, it protects poor trading periods, and maybe brings more people to the market.

I am not sure, the market is big enough .. I hope it is .. and for now, am buying the info packs.

Bit and pieces

A couple of court cases, doing the rounds.

1 was plainly stupid, and the other, is just stupid. U wonder who in charge, allows these cases to get so far ..

The plainly stupid one, was the case of the 22 yr old, Brit - Daniel Dobson, arrested at the Aus open tennis, for relaying data, back to his UK company.

They alleged, he was 'attempting to corrupt a betting outcome' .. Please, who are these idiots .. Anyway, case dropped, before it gets to court .. Hopefully, they get big costs awarded against them.

http://www.smh.com.au/business/charges-against-accused-australian-open-courtsider-dropped-in-embarrassing-backflip-20140306-348la.html

The second, is the case brought by Star TV, that basically, they own the scores to a game they cover, and ball-by-ball internet coverage, should be unlawful.

How they can own the score, is beyond me .. But, the case gets further along, on March 13.

A decent write-up, is here :

Savethelivecard.wordpress.com

 

Posted with Blogsy

Phil Ivey and Crockfords

So, details ares now emerging, as to how he won the money.

For those not abreast of events, Phil Ivey is a widely recognised Top 10 poker player, and obviously has fantastic memory recall/visualisation skills.

He is a huge high-stakes gambler .. some would say, de-gen .. playing sports/craps/golf for astronomical sums of money.

This life, should make it easier to actually play v big in a casino, and .. so it came to pass.

It is said, some 10's of Billions of playing cards, are used by casinos each yr, and, its natural, the manufacturing process, is occasionally flawed, so, that some cards, are recognisable, due to a design flaw on the back.

Imperfections in the backs of the playing cards, used by Crockfords, would enable someone to vary their bets, in Punto Banco, where the amount bet, is established before the start of each hand. In this game, an 8 or 9, are exceptionally valuable to a player, raising your edge in excess of 20%.

I imagine he waited for each new hand, saw what the first card was, before it was dealt, and bet, either big or small, based on this.

Over 2-3 days, you would have to win - and the £7.8million he won, shows, how .. by betting up to £150k a hand, edges multiply .. whether they be for the house, or the player.

As Crockfords provided the cards, I don't see hes done anything wrong.

I reckon, he will get paid.


http://www.dailymail.co.uk/news/article-2214409/The-7m-streak-luck-Mayfair-casino-thinks-good-true.html