I don’t even know where to start, but let me start first by saying thank you. Thank you for the time you put into hosting the numerous great interviews we enjoy.
I live in Romford, United Kingdom and started trading in 2011. I consider myself a contrarian, so luckily it came natural to me that trend following was the way forward, and this idea was strengthened by the same patterns I observed repeating themselves at very random times. Through great minds like Van Tharp, I realized the important things such as bet size and staying solvent until the pattern re-appeared.
Fast forward a few years later I stumbled on your Youtube videos, which led me to research further, leading to your book and then on to your podcast. And I have learned so much not just with regards to the markets/ trading but many other general subjects which contributes to my overall learning and self-improvement.
But here is where you have made the most impact on me. A little while ago, I went out one night with a friend and we randomly decided to drop by in a casino which was in a mall we hung out. I had never been inside a casino and was impressed by the very luxurious environment. I eventually got attracted to the game of roulette where lots of money was won and lost and I must say I immediately noticed the same sort of decision-making that is common in my own world of trading. These include adding to losers, no strategy/game plan, pure GREED when things go their way and ultimately a complete lack of money management. I was fascinated at the similarities, I went away that night longing to study this game. Before long I began to visit the same casino regularly, never to play but observe, and it was at this point that I discovered that patterns do exist. I immediately knew that if the patterns were actually there, given the high odds of the game, it could be extremely profitable. After collecting 11,237, session samples over 4 years (using online casinos), I was no longer guessing, because the data I had collected was evident.
I would never have had the patience to carry on with this research over a long period of time if it weren’t for your podcasts and the many guests who in some cases had beaten black jack. The problem however is the general consensus is that Roulette cannot be beaten and I disagree. It cannot be beaten if you play it randomly (just as the markets can’t be beaten long-term if one approached it randomly). In one of your monologues you covered some guy who made a fortune on horse racing in Hong Kong, and that inspired me so much that I kept going in my effort to collect sufficient data.
The work that I have done with this game in my opinion is revolutionary and I would never have done it without the skills that trading required that I develop, but most importantly the many Michael Covel podcasts I often listened to in the background whilst collecting data and testing a strategy to reach my conclusion before implementing.
Thanks for all you do. I couldn’t thank you enough.
Uh, roulette is going to be tough. The odds are against you.