Short term vs long term and quitting while ahead (continued)

[DGenBen]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

[kewlJ]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

There is absolutely nothing wrong with that. However if he goes to the casino every day, or several times a week, or however often he goes, and employs these stop limits, in each direction, winning and losing, don't tell us that is a winning strategy that overcomes anything. It isn't.

[DGenBen]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

There is absolutely nothing wrong with that. However if he goes to the casino every day, or several times a week, or however often he goes, and employs these stop limits, in each direction, winning and losing, don't tell us that is a winning strategy that overcomes anything. It isn't.

Yeah but he’s stated he only cares about winning today. He doesn’t care if he wins tomorrow or in the long term. He would rather win today & he knows that an AP might lose today after being up earlier in the day.

So given what he wants to achieve personally isn’t the better strategy (not for an AP but just for him) to quit as soon as he is up for the day?

[jbjb]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

He thinks he's "ahead" when in reality he's still DOWN hundreds of thousands of dollars.

[DGenBen]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

He thinks he's "ahead" when in reality he's still DOWN hundreds of thousands of dollars.

He says he doesn’t care about the long term or math though.

He only cares if he wins today.

Maybe it’s a Zen thing. The only instant that really matters is the present, the past and future are an illusion.

[Rob.Singer]

Yeah but if he goes to the casino, wins a few hundred bucks, and then quits for the day whats wrong with that though?

He thinks he's "ahead" when in reality he's still DOWN hundreds of thousands of dollars.

He says he doesn’t care about the long term or math though.

He only cares if he wins today.

Maybe it’s a Zen thing. The only instant that really matters is the present, the past and future are an illusion.

There is no one alive who doesn't care if they win or lose each time they walk into a casino. If they didn't care, they'd just throw away X amount of money and do something else. AP's believe they'll be ahead in the long-term, whatever that's defined as. But that has nothing to do with not caring about what today's results are upon entering or leaving.

The past? Irrelevant. The future? Filled with +EV. The present? Very important, or else no effort would be made.

It's like trying to get Adam Schiff to tell the truth.

[DGenBen]

He thinks he's "ahead" when in reality he's still DOWN hundreds of thousands of dollars.

He says he doesn’t care about the long term or math though.

He only cares if he wins today.

Maybe it’s a Zen thing. The only instant that really matters is the present, the past and future are an illusion.

There is no one alive who doesn't care if they win or lose each time they walk into a casino. If they didn't care, they'd just throw away X amount of money and do something else. AP's believe they'll be ahead in the long-term, whatever that's defined as. But that has nothing to do with not caring about what today's results are upon entering or leaving.

The past? Irrelevant. The future? Filled with +EV. The present? Very important, or else no effort would be made.

It's like trying to get Adam Schiff to tell the truth.

If you found a guy at a casino that would flip a fair coin with you once a day but only once a day and would pay you $1,000 if you won, but you only had to pay him $20 if you lost and he was willing to do this every day, would you care if you lost on about half the days that you did this?