Wednesday, August 11, 2010

Bad Beats and other common anomalies

Remember that this is a gambling game of sorts. You will not be right all of the time. You are good if you are right most of the time. In Texas Hold'em poker: When you have the highest probabilities and you bet correctly, you can still lose (on The River). This is called a "Bad Beat". You may have done everything correct and it looked like a sure winner and then BOOM. A lot of traders took a BAD BEAT today. The word on the street is this move has totally blind-sided a large amount of capital (unless you have The dealer in your pocket like....you know who). The advanced knowledge some get is just plain fraud. We should have known better to watch what "The Big Stack" is doing. We didn't get hit too bad because we folded quick and just lost some profits. We are now back in CASH and will wait for the next hand. Everyone hates "Bad Beats"; however, they are part of the game.