Posted Mon Jan 17, 2005 6:22 am GMT by StarlightCoast
What is it exactly? What is a good number and what is a bad number? This is one statistic on my Poker Charts I do not understand. Thanks for any help.
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Posted Mon Jan 17, 2005 6:26 am GMT by snoogins47
It's essentially a measure of your "standard" up and down swings, based on how often a certain result deviates from your average session.
I suck at math, and don't know the mathematical derivation of it, you'd probably have much better luck at the twoplustwo probability forums, and I'm sure you could even dig up a post explaining it.
Basically, the higher the number, the larger your swings. No rating on it is intrinsically good or bad, but it's still a nice little stat to have.
Posted Mon Jan 17, 2005 1:48 pm GMT by suitedaces84
Like snoggins said, the higher the number the less consistant you are. If you were to graph a large number of your sessions in terms of profit, you would get a bell curve, standard deviation is proportional to the width of the bell curve. I'm not sure of the forula either, I think there's a square root in it somewhere if that helps.
Posted Mon Jan 17, 2005 2:28 pm GMT by xhi
Good tutorial at site below.
http://www.robertniles.com/stats/stdev.shtml
It says in part:
| Quote: | Terms you'll need to know
x = one value in your set of data
avg (x) = the mean (average) of all values x in your set of data
n = the number of values x in your set of data
For each value x, subtract the overall avg (x) from x,
then multiply that result by itself (otherwise known as determining the square of that value).
Sum up all those squared values. Then divide that result by (n-1). Got it?
Then, there's one more step... find the square root of that last number. That's the standard deviation of your set of data.
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Basically a standard deviation tells you how "good" a particular piece, or the next piece, of data is relative to the pieces you have already collected.
Say based on last months daily wins and losses you have an average daily win of $10 with a standard deviation of +/- 5 This would mean that most of your wins and losses during the month would fall within +$15 and +$5
If today you have a win of $12 you would have had a day within 1 standard deviation. If you won $30 today you know that you had an "unusual" day based on past performnce. It is the answer to the question "How did I do today?"
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