By the end of this session you will:

• Understand basic probability theory as it relates to trading
• Be able to differentiate between short-term luck and long-term probabilities
• Be able to apply the casino model to your thinking about trading
• Know the real meaning of trading edge and how it is derived

The benefits this session will give you:

• If you don’t understand basic probabilities and the concept of edge, it’s unlikely that you’ll ever become a consistently profitable trader. These are some of the most fundamental and important concepts you’ll learn, and grasping them will influence everything for the better in your trading going forward. Learning these concepts will help you with your strategy, your psychology, and every other area, because everything is built upon these principles.

Understanding Trading Edge Key Takeaways (PDF)