Start Bank: $198,00
Mr. Kelly's Bank: $216,81 (+ 984,05% profit)
Mr.Kelly's Start Bank: $20,00
Trader Phil's Bank: $98,11 (- 1,89% profit)
Trader Phil's Start Bank: $100,00
(I transferred $45 to the reserve bank this morning. The reserve bank now has $717,54, including $68 in cash, which is great because the minimum investment I can make is $30, so I will invest the cash today and update "The Demon" and check on my crack(-smoking)investment team.
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Well, yesterday was a fine day all-around. I made only three bets and hit a new all-time high of $1463,06. Mr. Kelly has been rallying...he won 6/8 lays for a total of $57,97 ...a bank increase of 36%.
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But now Trader Phil is causing me some trouble. I called him into the office and we had a table-pounding argument that still has not been resolved. To tell you the truth, I'm thinking of firing the guy...
The discussion went like this:
Snapper: Well, Phil, I'm wondering why you have only greened up 6/23 bets you made. By random selection, you should be able to hit 12/23.
Phil: Boss, it ain't that easy. There's not so much volatility in the Place Market as the Win market. The prices don't move so much.
Snapper: Well, look..if you only get the market direction right 6/23 times, that means that you are making 17/23 bets at full Kelly stakes without a profitable edge. The amount you have greened up on the 6 trades you made is only $3,58...it's not enough to cover the losses. Mr. Kelly and I were talking about it and he says you are doomed unless you can improve your trading...You need to green-up OVER 50% of your trades or you are screwed...
Phil: Picking the drifters ain't as easy as it looks, boss...
Snapper: Listen, if you can't find more drifters ,I'm going to cut you back to a fixed stake...and if you still can't find more drifters, you're fired...and the boys in Holland want their $100 back. We need to get to Florida, and we don't want you to hold us back.
Phil: But you only gave me $100..how am I supposed to trade with such a small amount?
Snapper: Well, if you can't double a small bank, you can't double a big bank. Now get out of here...and put out that damned cigarette!
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