{"id":7437,"date":"2010-10-02T12:43:09","date_gmt":"2010-10-02T16:43:09","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=7437"},"modified":"2023-06-13T09:13:37","modified_gmt":"2023-06-13T13:13:37","slug":"the-importance-of-using-statistics-to-gain-an-edge","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-importance-of-using-statistics-to-gain-an-edge","title":{"rendered":"Gaining an Edge: The Importance of Using Statistics in Your Trading"},"content":{"rendered":"<p>I received this email from a reader, excellent developing trader, and potential future trading star. It needs no editing and has awesome value to traders.<\/p>\n<p style=\"text-align: center;\"><strong>SMB Chop Tracker<\/strong><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/10\/smb-chop-tracker.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7438\" title=\"smb chop tracker\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/10\/smb-chop-tracker.png\" alt=\"\" width=\"500\" height=\"334\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/10\/smb-chop-tracker.png 1041w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/10\/smb-chop-tracker-300x200.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/10\/smb-chop-tracker-1024x684.png 1024w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<blockquote><p>Bella,<\/p>\n<p>Came across this article that I thought you might like. It&#8217;s written by one of my brother&#8217;s poker friends. This guy happens to be one of the best NBA sports bettors of all time, and also a very well respected high stakes poker player. It&#8217;s kind of an old school article, but I think there are many similarities to trading. It illustrates how important it is to keep a detailed trading statistics\/trading journals, and measuring specifically what setups work best for you. This guy has a proprietary database of every single NBA game in the past five years.<\/p>\n<p><a href=\"http:\/\/espn.go.com\/blog\/truehoop\/post\/_\/id\/4974\/following-up-with-haralabos-voulgaris\">Article on great NBA sports bettor<\/a><\/p>\n<p>Some good lines from the article:<\/p>\n<p>It took me about nine months and a few hundred thousand to perfect the collection and organization of the data such a way that it is valuable for predictive purposes.<\/p>\n<p>My numbers tell me that the corner three-point shot is the second most efficient shot in basketball next to the layup. Why do some teams spray three-pointers all over the floor?<\/p>\n<p>I have been around sports betting and card playing for quite some time, so I definitely look at things a different way. Most people invest in mutual funds or the stock market, so when I hear someone say that they could make money betting on sports, but choose not to, to me it&#8217;s like someone saying they could beat the stock market but choose not too.<\/p>\n<p>In the basketball analytic world (stat geeks) people talk of Offensive and Defensive Efficiency (points per possession). I take it a step further and break down the efficiency of different types of possessions. Possessions off of turnovers, made baskets, missed shots (broken down a step further types of missed shots), etc.<\/p>\n<p>He also writes a <a href=\"http:\/\/aloneinthecorner.com\/\">great blog<\/a>.<\/p>\n<p>Have a great weekend!<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>I received this email from a reader, excellent developing trader, and potential future trading star. It needs no editing and has awesome value to traders. SMB Chop Tracker Bella, Came across this article that I thought you might like. It&#8217;s written by one of my brother&#8217;s poker friends. This guy happens to be one of the best NBA sports bettors &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-importance-of-using-statistics-to-gain-an-edge\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":7438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4674,18,749,1193,653,1421],"class_list":["post-7437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-smb-capital","tag-statistics","tag-trader-education","tag-trader-training","tag-trading-statistics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Importance of Using Statistics to Gain an Edge | SMB Training<\/title>\n<meta name=\"description\" content=\"Discover the importance of using 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