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MIGHTYMO @ROBTHEMARKET on x 1026 followers
Created: 2025-07-27 17:35:54 UTC
Position sizing (using my casino example)
between working at my corporate job at American Airlines and doing stock trading full time, I spend a year gambling at casinos (my buyout at AAL provided me with income that year). I kinda broke even at the casino, maybe a small loss, in terms of money gambled but came out ahead with the free food, drinks and giveaways won on points based on time spent on the tables. In addition, it was my entertainment. There is no better feeling that a hot casino crap table on a Saturday night with points after points being made and high piled chips betted and played on every possible play everywhere on the table and the table crowded and overflowed with people all yelling , screaming, and clapping after each individual winning play.
In craps, one can make many different bets, all with different odds, and as all should know, every gambling play at a casino favors the house except one. There's one bet that is even, breakeven 50-50 even. Every play at a casino favors the house except one and that one is a play allowed on the Craps table. So in craps the worst odds are playing the snake eyes box or the box car box...so if going good, for entertainment, I might play one chip or two there. On the other hand, I might play 20, XX chips on the Odds behind the pass line, a sideline bet that one can make after a point is made. This is the only bet at a casino where the odds are even. There is no house edge advantage on the odds portion of the bet. It is behind the pass line and is not noted on the table - the casino prefers you not know about it. So anyhow, the point here is to place the smallest bets on your worst odds if any bet and the biggest bets or 'safer' bets are those that provide better odds - like the pass line, like the X or X and the aforementioned Sideline Bet behind the pass line. So why play these bets is there is no advantage to you. Simple, casino house 'gifts' or giveaways are based typically on how long you play and how much you bet. Betting high on the sideline bet provided me more 'points' in the giveaways and allowed me to player longer. I played every day so it added up. So in relating this to stock trading. The better potential one has with a stock play, the more conviction on that play based on your historical record and intuition, the higher one's position size. A winner in the market doesn't make the same size play on all trades. The ones with the better asymmetrical reward/risk ratio are the ones to 'bet' highest on...using a larger position sizing than your average trade.
$SPY $COIN $HOOD $HIMS $ASTS $RKLB $LEU $OKLO $CVNA $YINN $NAIL $QQQ $TQQQ $DJIA
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Related Topics money aal acquisition coins gambling