Janice Dorn, MD, PhD
Neuropsychological Trading Coach
Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.
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It's not easy being green
It seems you blend in with so many other ordinary things
And people tend to pass you over 'cause you're
Not standing out like flashy sparkles in the water
Or stars in the sky.
…From the Muppets, lyrics to "It's Not Easy Being Green," sung by Kermit the Frog
A bunch of my very best traders are hopping a plane to Vegas for the holidays. As if they haven't had enough flashing lights, bells and whistles going off on their monitors for the whole year, they want more. But it's been a pretty good year, so why not just go for it! And they will, of course, but not until I tell them The Legend of the Man in the Green Bathrobe. They are, after all, traders, and what trader doesn't love a good story, especially when it is about something that is both the color of the season AND the color of money?
It's a great money story that many say is true. Even if it isn't true, the bathrobe is green, and Vegas is all about light, color and sound. So, it's festive, charming, somewhat entertaining and, most of all, instructional. (There will be a quizzes later this year, so be prepared, people!)
A happy couple decided to honeymoon in Vegas over Christmas and New Year's. How totally fun for them! All was going well, except they lost every cent of their $2,000 "gambling allowance." One night, unable to sleep, and possibly worried about losing several thousand dollars, the not-so-happy husband noticed something glowing on the nightstand. It was a keepsake $10 chip they had saved as a souvenir, and it was blinking. Blinking! It was blinking the number 15. As if called to action in a vision, the husband grabbed the chip, threw on his green bathrobe and ran down into the casino, leaving his wife sound asleep. He darted to the roulette table and immediately placed the $10 chip on the number 15. It hit! He did it again and again and again, and it kept hitting 15 on each 35-1 bet, and the winnings kept multiplying.
We sometimes say that insanity is doing the same thing over and over again and expecting different results. In this case, the groom kept betting 15 over and over again and expecting the same result. A bet on only one number, called a straight-up bet, pays 35 to 1. That $10 chip kept hitting 15 and multiplying the winnings each time until he was up some one hundred million dollars. He just kept betting it all—until it hit on 21 and he lost it all. He ended up with nothing. NOTHING.
Green bathrobe and all, he slinked back to his room, where the anxious bride asked, "Where have you been?"
He answered with some slight anxiety, "Playing roulette."
"How did you do?" she said.
"Not bad," he replied. "I lost $10.00."
Then he turned the lights out and went to sleep. And that was that.
Now let's say that instead of placing that final losing bet, our groom in the green bathrobe cashed out, left the casino, went across the street to the car dealer, and bought one Lamborghini Gallardo for every trader in John Lansing's live trading room on Trending123.com, or each of the 200 people who are presently responsible for 80% of the spam (http://www.spamhaus.org/rokso/index.lasso). He would STILL be a multimillionaire. The Trending123.com subscribers would be thrilled, and the Lamborghini dealer might be pleased at this attempt to bribe the spam cartel. However, it is unlikely that the guy selling the cars would ask whose money was being used to buy the cars. Why would he? Some guy in a green bathrobe had just walked out of a casino with one hundred million dollars. It's Vegas, people!
But I digress.
Whose money was it? Think about it, and think hard. Now stay tuned for Part Two.
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