Thanks Paul. Informative and insightful, especially where you start to reveal some of the 'inner world' of the professional and back this up with some hard numbers e.g. the starting point for where the serious analysis begins.

I had a quick look at the adaptive market hypothesis. That is one hell of a wormhole in which to get lost in for the 'mere mortals' amongst us.What is evident to me however is the need for a 'rolling data sample' to monitor when & where the risk v reward playoff changes, and to evolve with the moving target in real time.

Cheers LG

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The trick isn't finding profitable angles, it's finding ones you will bet through the ups and downs - UB