Damn it, the most extreme, out-of-control strategy that makes Lance money the fastest has leaked.
They say that over the years, in his trading, he has earned and walked away with more than $100 million in total—equivalent to more than 700 million RMB. The author of “Market Wizards,” Jack Schwager, has verified his live trading data. He’s about to publish a book for him.
Even though I haven’t seen any publicly available account data yet, in general, when people talk big about how much they’ve made, at most it’s usually a few million to tens of millions. It’s rare to see someone directly claim they made 700 million, so it may not be fake.
Jack said he will record Lance and his classic trades in a book, and he also mentioned that another trader appearing in the book is Qualamagi, the highest-paid trader in Sweden.
An extreme, out-of-control strategy’s most core element is expected value. That means before we place any trade, we need to judge whether it’s actually worth doing.
Whether it’s worth it mainly depends on three things.
First is the win rate, second is how big the risk is, and third is the upside potential. In other words: is the probability of a reversal at this position higher? If we do it wrong, is it easy to set a stop-loss, and is it unlikely to get hit? And after the price goes out of control and deviates far, does the recovery space—i.e., the magnitude of how far price can move back—get bigger?
Only when all three of these conditions are met at the same time is this trade a good one to take.$BTC
They say that over the years, in his trading, he has earned and walked away with more than $100 million in total—equivalent to more than 700 million RMB. The author of “Market Wizards,” Jack Schwager, has verified his live trading data. He’s about to publish a book for him.
Even though I haven’t seen any publicly available account data yet, in general, when people talk big about how much they’ve made, at most it’s usually a few million to tens of millions. It’s rare to see someone directly claim they made 700 million, so it may not be fake.
Jack said he will record Lance and his classic trades in a book, and he also mentioned that another trader appearing in the book is Qualamagi, the highest-paid trader in Sweden.
An extreme, out-of-control strategy’s most core element is expected value. That means before we place any trade, we need to judge whether it’s actually worth doing.
Whether it’s worth it mainly depends on three things.
First is the win rate, second is how big the risk is, and third is the upside potential. In other words: is the probability of a reversal at this position higher? If we do it wrong, is it easy to set a stop-loss, and is it unlikely to get hit? And after the price goes out of control and deviates far, does the recovery space—i.e., the magnitude of how far price can move back—get bigger?
Only when all three of these conditions are met at the same time is this trade a good one to take.$BTC