Does martingale really works?

[MoneyGod]

Aslong as you got enough money and patience it usually works alright, but for me with out the patience and the money it hasnt worked wonders 

i don`t have patience how much patience do you need??

In gambling patience is key if you have no then don't involve in gambling because if you cannot lost then you cannot win

[deisik]

Aslong as you got enough money and patience it usually works alright, but for me with out the patience and the money it hasnt worked wonders 

i don`t have patience how much patience do you need??

In gambling patience is key if you have no then don't involve in gambling because if you cannot lost then you cannot win

You needn't have patience as your characteristic trait, you just need knowledge, knowledge supported by experience, so that it eliminates any difference whether you are impatient as a person or not...

[Bitwayup85]

Aslong as you got enough money and patience it usually works alright, but for me with out the patience and the money it hasnt worked wonders 

i don`t have patience how much patience do you need??

In gambling patience is key if you have no then don't involve in gambling because if you cannot lost then you cannot win

You needn't have patience as your characteristic trait, you just need knowledge, knowledge supported by experience, so that it eliminates any difference whether you are impatient as a person or not...

actually you need all of those things, knowledge supported by experience and a lot of patience too...

[Hfleer]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

[Pony789]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

[DannyElfman]

Still people try martingale constantly. I am watching primedice and dicebitco.in and people use the bots (or manually) and grind away martingale for 10000s of bets. I guess they like the fact that they constantly win money until the big bang.

[Wafel16]

Yes, you can win with martingale but when you made some profit run, don't be greedy or you'll end losing.

[Hfleer]

Still people try martingale constantly. I am watching primedice and dicebitco.in and people use the bots (or manually) and grind away martingale for 10000s of bets. I guess they like the fact that they constantly win money until the big bang.

Because of human psychology. Constant rewards release endorphines. Thus giving a positive feedback loop. Rinse repeat.

[deisik]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

Martingale is a gambling (trading) strategy. If it brings you profit, then it works, at least in practice. As simple as that...

[Hfleer]

Yes, you can win with martingale but when you made some profit run, don't be greedy or you'll end losing.

You can win with every betting style, why do you need martingale for that?

[Hfleer]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

Martingale is a gambling (trading) strategy. If it brings you profit, then it works, at least in practice. As simple as that...

No, that maybe just semantics and you are no english native speaker, but for a "strategy" to work, the strategy needs to yield a positive expected value.

Look at arbitrage for example, you can prove mathematically that it yields a positive expected value. With martingale everyone who knows basic algebra can disprove it.

[deisik]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

Martingale is a gambling (trading) strategy. If it brings you profit, then it works, at least in practice. As simple as that...

No, that maybe just semantics and you are no english native speaker, but for a "strategy" to work, the strategy needs to yield a positive expected value.

It doesn't matter whether I'm a native English speaker, there is virtually no trading strategy that guarantees you profit (those that do are usually not even worth looking at). The example you bring up is just a very specific case...

Actually, you shouldn't talk about semantics, since I know that I use the word correctly (as it is used in trading)

[Hfleer]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

Martingale is a gambling (trading) strategy. If it brings you profit, then it works, at least in practice. As simple as that...

No, that maybe just semantics and you are no english native speaker, but for a "strategy" to work, the strategy needs to yield a positive expected value.

It doesn't matter whether I'm a native English speaker, there is virtually no trading strategy that guarantees you profit (those that do are usually not even worth looking at). The example you bring up is just a very specific case...

Actually, you shouldn't talk about semantics, since I know that I use the word correctly

So you are saying a strategy "works" even though you are guaranteed to lose money in the long run?

That is a very weird definition of "working".

[deisik]

Even with unlimited money, you can't kill a casino that uses the kelly criterion. You can simulate that with computers. (Casinos without limits is a different story)

With unlimited money you can buy the casino and then still kill it!

Haha. Thinking outside of the box.

Still martingale never works. Not even in theory.

It may not work in theory, but could work out in practice...

What is that supposed to mean? Fact is that your expected value is negative, if you get lucky and make money with it in the short(or medium) term, that doesn't mean it worked..

Martingale never works.
You can get profit with martingale, only if you are lucky that day and don't experience a long enough losing streak.

Martingale is a gambling (trading) strategy. If it brings you profit, then it works, at least in practice. As simple as that...

No, that maybe just semantics and you are no english native speaker, but for a "strategy" to work, the strategy needs to yield a positive expected value.

It doesn't matter whether I'm a native English speaker, there is virtually no trading strategy that guarantees you profit (those that do are usually not even worth looking at). The example you bring up is just a very specific case...

Actually, you shouldn't talk about semantics, since I know that I use the word correctly

So you are saying a strategy "works" even though you are guaranteed to lose money in the long run?

That is a very weird definition of "working".

In practice, working/not working is determined by your balance. In practice, it doesn't matter whether you are guaranteed to lose money in the long run, since there may not be "in the long run". You may just withdraw and never gamble again...

[Hfleer]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

[deisik]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

No, I wouldn't call it sheer luck. You know what you're doing...

[Hfleer]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

No, I wouldn't call it sheer luck. You know what you're doing...

Ok, so we do have very different definitions of "working" then

[deisik]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

No, I wouldn't call it sheer luck. You know what you're doing...

Ok, so we do have very different definitions of "working" then

When you toss a coin, chances that it lands on the same side are diminishing with each toss. Would you call this short-term luck if the coin does not fall 10 times in sequence on the same side? I would say quite the contrary!

[Hfleer]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

No, I wouldn't call it sheer luck. You know what you're doing...

Ok, so we do have very different definitions of "working" then

When you toss a coin, chances that it lands on the same side are diminishing with each toss. Would you call this short-term luck if the coin does not fall 10 times in sequence on the same side? I would say quite the contrary!

I call it chance. But I see that you are ignoring that.

The chance for it not to happen is: 1-0.5^10 , still if you make a martingale bet on it, then you will lose longterm...

[deisik]

But is that really "working"? I would just call that shortterm luck.

That is like a fish in poker playing horrible and still having inredible luck. Sure he can win in the shortterm, but that doesn't mean his strategy works.

Do you get my angle?

No, I wouldn't call it sheer luck. You know what you're doing...

Ok, so we do have very different definitions of "working" then

When you toss a coin, chances that it lands on the same side are diminishing with each toss. Would you call this short-term luck if the coin does not fall 10 times in sequence on the same side? I would say quite the contrary!

I call it chance. But I see that you are ignoring that.

The chance for it not to happen is: 1-0.5^10 , still if you make a martingale bet on it, then you will lose longterm...

Ignoring what? You didn't answer my question...