I'm studying stochastic calculus by myself
However, after reading many materials, even I have learnt Ito lemma, I still can't master what martingale & filtration are about
Can any one explain it ? I hope that the answer will not include any equation, what I need is sth intuitive. For equation, I have many books and many copy of the equations, but I can't master the concept behind, that's why I hope that someone can explain it to me with plain text instead of posting equations again at here. An illustrative example would be appreciated ! Thanks !
However, after reading many materials, even I have learnt Ito lemma, I still can't master what martingale & filtration are about
Can any one explain it ? I hope that the answer will not include any equation, what I need is sth intuitive. For equation, I have many books and many copy of the equations, but I can't master the concept behind, that's why I hope that someone can explain it to me with plain text instead of posting equations again at here. An illustrative example would be appreciated ! Thanks !