Probabilities and birthdays

In a room of just 23 people, there’s a 50-50 chance of at least two people having the same birthday. In a room of 75, there’s a 99.9% chance of at least two people matching. How is that for an introduction to probabilities?

For traders, probabilities are the most important thing to understand, and I truly believe that understanding this concept will positively impact your trading results. The correlation between understanding your numbers and having confidence is extremely high.

Certain things in life aren't that obvious at first sight. By glancing over the birthday paradox again, you might think, wait you have 365 birthday possibilities and 23 people, this cannot be a 50-50 situation.