Money Management Could make You a Profitable Trader
Back inside the early 1980s, back when I was employed to become a gambler (until 1984), I’d frequently take trips to Las Vegas to play the Blackjack tables.
My connection to Blackjack started ahead of I was old adequate to bet at a casino. My step-father was a (compulsive) gambler who would take me to horse races as well as teach me the finer points of playing Blackjack.
As a young man, I was in a position to recognize that horse racing was a fool’s game. It wasn’t a lot resulting from my step-father regularly losing his stake, but that I could not see how anyone could get an edge betting on horses.
Having said that, when it came to Blackjack, I could see that having a tiny bit of understanding of probability and excellent money management, it was doable to make money even though the odds had been stacked …
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