I have long wanted to discuss the following topic with users and participants in gambling discussions. Do you think Nassim Teleb's philosophy can be of any use in gambling? His various ideas and theories? Let me just list some of his ideas and you can comment on how, if any, benefits can be gained from this:
1. Ideas from the book “Fooled by Randomness.” There are many ideas that boil down to the fact that we often mistake randomness for a pattern.
This can be used to in gambling. Let me explain.
In a hypothetical situation where I am experiencing 3 winning streaks in the game of slots. Instead of merely considering it a random occurrence, I may then make the mistake of seeing a pattern that led to my wins. I may attribute it to the time of day I played the slots and experienced consecutive wins, or I may attribute it to the posture I assumed while playing the game, or to some other assumptions that I managed to conjure up in my head. However, in reality, there is no pattern; my winning streaks were all just random. In gambling, if I do not quickly correct my assumptions, what happens next is chasing losses if I experience them after the winning streaks, because I believe that I broke the pattern and have to regain it. Mistaking randomness for a pattern leads to making poor decisions and eventually results in losses.