Trading, Sex & Dying

Book excerpt: "Game theory is hot," says the Wall Street Journal, and many of today's most successful traders are using it to make crucial-more profitable-buying and selling decisions. Virtually every trader profiled in The New Market Wizards uses poker or blackjack strategies in their own trading. And game theory came of age in 1994, when three economists received the Nobel Prize in economics for applying techniques from games like poker as a tool for economic analysis.What makes these Super Traders and financial experts market winners? They know there's little difference between strategies used to win in poker-and those needed to win in the markets.Now, one of the most influential books on game theory has been updated and adapted exclusively for traders, with an in-depth new foreword by options pro, Dave Caplan.YOU'LL LEARN TO BOOST TRADING PROFITS BY . . . - Varying your bet (position) size- Trading only when the markets "give you a good hand"-or opportunity such as a favorable trend, price disparity, or option volatility level- Evaluating your "hand"- or probability of success on a trade-Considering the risk/reward on each trade-Writing options to "function like a casino operator"-or trade like a "bookie" And so much more.Discover the striking parallels between playing poker and trading-and use them to your trading advantage to come out on the winning side of the "game."