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12Aug
Martingale, Defective Money Management
Posted by admin as Martingale, Defective Money Management
Imagine you are flipping coins (even odds), and you are making bets on your flips. Here is a popular betting scheme: After you lose, double your bet; and after you win bet one dollar. The idea is that if you lose several flips in a row, you will still come out ahead: -1-2-4-8-16+32=1. Here I [...]
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