Disliked{quote} Really nice conclusion. I really needed that formula! I`m already using it but I didn`t understand at all. ForexQuant, can you please elaborate it? Why the first argument is 0 and not 1? If I`m asking to much can you just indicate me a book though? Thanks already!Ignored

The 1st argument is 0 because Zero means the event of consecutive y losses in x number of trades does not happen at all. Since we want to know the probability of such event to happen at least 1 time and sum of the probability is always equal to 100%, therefore it is easier to deduct it from 1.

Edit: Just noticed that I had answered a similar question in http://www.forexfactory.com/showthre...41#post4336241

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