I think the two ventures have a lot in common and a lot of success comes down to money (bankroll) management and discipline. My two favorite books along those lines are:
Reminiscences of a Stock Operator-Edwin Lefevre
Alchemy of Finance-George Soros
What are some of your favorites as I am looking for some suggestions?
I seem to remember that as recollections of someone who used to trade in bucket shops and claimed to have a "sense" of the market somehow. I never viewed the book as revealing anything, but then I was probably 12 when I read it.
Quote: MrVI like "Whale Hunt in the Desert," by Deke Castleman.
It's a fascinating bio of Las Vegas super host Steve Cyr.
whalehunt
The grandest game of all is conning the marks into giving you their money with a smile on their face.
Thanks, putting it on the Kindle. Not sure if you noticed but he was interviewed on the radio program (Bob dancer) the Wiz mentioned last week. Cyr was an interesting interview talking with pride about beating a guy out of 100k.
Quote: FleaStiffReminiscences of a Stock Operator-Edwin Lefevre
I seem to remember that as recollections of someone who used to trade in bucket shops and claimed to have a "sense" of the market somehow. I never viewed the book as revealing anything, but then I was probably 12 when I read it.
Worth another read IMO. Basically a biography of Jesse Livermore who was possibly the greatest speculator ever livermore.
Here is a choice quote.
A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.
Quote: IbeatyouracesBeyond Counting Exhibit C++.
I appreciate the info, I checked out his site and read some articles. Way over my head, but I can dream of being that statistically gifted.
In my opinion he really pictures what gambling is!
I have only read Crime and Punishment, will add it to my list. Thanks
Quote: AZDuffman"Gambling Wizards." It is along the lines of the "Market Wizards" series and is interview format about the nature of the mentality you need to succeed.
Thanks, I have worn copies of both the Market Wizards books. I am looking forward to reading Gambling Wizards.
Quote: Scotty71
A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.
Nice choice of a quote. Truly understanding this quote changed the way I trade.
When it comes to blackjack I like the book Blackbelt In Blackjack.
Quote: ikilledjerryloganNice choice of a quote. Truly understanding this quote changed the way I trade.
When it comes to blackjack I like the book Blackbelt In Blackjack.
I will read that. Regarding the quote on trading I have taken it to the tables and have to walk away when the cards/dice go cold or at the very least against me...live to fight another day.
Taking losses is the hardest thing for people to do and it is usually their downfall in the market specially when it comes to trading. They book small gains and let big losses grow because their ego gets in the way.
The green belt section is the most important section of the book in my opinion. White belt talks about various types of counting systems and stuff you've probably already read. Black belt talks about forming teams and sharing bankrolls - stuff thats irrelevant to most people. Green belt talks about cover and bankroll management, stuff thats more relevant and useful.
"C++" --> "CAA" ( or maybe better, (*C++).CAA )Quote: IbeatyouracesBeyond Counting Exhibit C++.
Quote: Scotty71Thanks, I have worn copies of both the Market Wizards books. I am looking forward to reading Gambling Wizards.
You should enjoy it if you liked the others. BTW: it is out of print but plenty of used copies online.
Complete Guide to Casino Gambling, Basil Nestor
Advanced Craps, John Patrick
Get the Edge at Roulette, Christopher Pawlicki
Quote: DorothyGale"C++" --> "CAA" ( or maybe better, (*C++).CAA )
I had to google that to find it last night I wondered if C++ was a code or an inside joke? I found the exhibit CAA on the BC website. I am not a computer person or an advanced math person, so dont know exactly what the C++ meant.
Dorothy, I got this email from MGM, thought you would appreciate it. It said "Coming soon-A More Rewarding Experience. Literally." We'll see soon if they are using the word correctly.
Quote: midwestgbConquering Casino Craps, John Gollehon
Complete Guide to Casino Gambling, Basil Nestor
Advanced Craps, John Patrick
Get the Edge at Roulette, Christopher Pawlicki
Sweet, thanks... craps is my favorite game, the only book I have on it is the one by "sharpshooter" He gives a few decent table betting strategies and pressing suggestions but most of its about dice setting and his technique.
Quote: midwestgbConquering Casino Craps, John Gollehon
Complete Guide to Casino Gambling, Basil Nestor
Advanced Craps, John Patrick
Get the Edge at Roulette, Christopher Pawlicki
Sweet, thanks... craps is my favorite game, the only book I have on it is the one by "sharpshooter" He gives a few decent table betting strategies and pressing suggestions but most of its about dice setting and his technique.
Edit: Sorry for the Dupe
Quote: Scotty71RE: Dostoevsky
I have only read Crime and Punishment, will add it to my list. Thanks
I hope you like the book. I think it's much softer than the one you have read. If you wanna discuss it later do not hesitate in sending a private message.
Quote: IbeatyouracesThe original book was evidence in his court case and labled "Exhibit CAA." So thats how the 2nd edition was subtitled. I use my phone and the "+" and "A" are on the same key. My appologies
I thought maybe it had something to do with computer code, isn't C+ a programming language? I found it either way, probably better that guy (Grosjean) terrorizes casino's rather than Wallsteet as he probably would have come up with some wicked high frequency algo's or nuclear derivatives Article. His BC website had some pretty deep analysis of free play options too.
Quote: midwestgbConquering Casino Craps, John Gollehon
Advanced Craps, John Patrick
There worth reading if you like a laugh at system sellers, thats for sure. I have read and enjoyed both these, but they don't unlock any mysteries, and the rest can find for free elsewhere (like the Wizard of Odds site....)
Quote: thecesspitThere worth reading if you like a laugh at system sellers, thats for sure. I have read and enjoyed both these, but they don't unlock any mysteries, and the rest can find for free elsewhere (like the Wizard of Odds site....)
There is no book on gambling (except Poker) that I've seen or read that I would argue 'unlock any mysteries.' These books I've read I simply found enjoyable. I concur that the Wizard's works - mostly all free online - are the most definitive that can be found just about anywhere on the subject of casino gambling.
Extraordinary Popular Delusions and the Madness of Crowds.
Charles Mackay 1841.
-Whale Hunt In The Desert
-Gambling Wizards
concerned, I always recommend American
Casino Guide.
Yes, its mostly a coupon book, but the chapters
it has on gambling dispel a lot of casino
myths, and it does a good job of explaining and
listing the house advantage for VP vs Slots.
Also good charts on basic strategy for BJ.