Basics of Statistics in Trading Investing and Casino Games: Mathematics, Data Analysis, Stock Exchange, Roulette and Dice
Basics of Statistics in Trading Investing and Casino Games: Mathematics, Data Analysis, Stock Exchange, Roulette and Dice
Statistics is one of the most important areas in trading . It is important not only for advanced quantitative and algorithmic trading , but also for simple manual trading . For his understanding. Without statistics, all trading turns into doimology , and proceeding in trading without statistical methods is similar to when in the Middle Ages there was a general opinion that the earth was flat without any scientific and measuring methods. For classic manual trading , you do not need to know advanced mathematics and statistical methods, but to understand only the basics and their use in practice. Why it is important to make decisions based on statistics, why casinos always win in the long term thanks to statistics and how insurance companies make billions thanks to statistics even though they cannot accurately predict the future.
Why does the casino keep winning for a long time? What is the probability that red or black will fall in the casino? What is the probability that the coin will land heads or tails, what is the chance that the stock will rise or fall by 4%, what are my chances if I always go only long or only short or combined? How often does the number 6 come up on the dice and what numbers will come up if I count 2 dice?
In this article we will explain: Basics of Statistics: Mathematics, Data Analysis, Stock Market, Roulette and Dice in the casino. Let’s talk about Statistics, Descriptive Statistics, Mean, Median, Mode, Variance and Standard Deviation. Statistics in Data Analysis – Regression analysis / Linear regression and Cluster analysis. We will explain what the key applications of statistics are.
Other topics of the article are Statistics in Roulette, Probabilities in Roulette: Statistics in Dice, Probabilities in Dice, Probability in Trading.
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