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RE: Card Counting, Investing, and Taking Advantage of Asymmetry
As someone who has had his fair share of successes and failures in equities and options over the years, I really connected with this post. You definitely incorporate the go big or go home mindset in your trades!
Thank you! $15k on a single option play was foolish..but I like to think there was still something to my pick of breakout point and undervaluation. Naseem Taleb actually suggests keeping most assets out of equities and then using a small amount toward options plays. Lots more loses than wins that way..but the idea is that the wins can disproportionately pay off. Finding an area where people are blind to the risk vs reward asymmetry seems to be the key. I highly suggest reading his books if you have not.
Definitely reading that book next. I used to daytrade, now I just trade options casually in the way you just described. Making bets that have high reward with limited risk. It's the best thing about options. May times I do debit spreads to lower my cost, though it caps the potential return as long as I'm getting 5 to 1 or better on the play I'm content.
Maybe we will luck out and they'll move the stock market to a decentralized exchange before long (next 10-15 year time frame anyway). Depending on who you trade with those fees can kill you. I've probably spend $3,000 in fees since I started trading a decade ago.
I entertain myself imagining that if Vericoin (my largest crypto gamble) went to a $10 billion market cap like Bitcoin is.. I'd have about $40 mil lol. I'm crossing my fingers and continuing to research various block chain ventures. Never had more fun.