HH11 Gambling Risk

Hello and welcome to my blog.

"There are two great pleasures in gambling: that of winning and that of losing."

This quote crossed my path twice recently. Perhaps a coincident, perhaps not. Anyways, it reminded me that it is the pleasure of the game that matters and not the final outcome. The act of taking on a stock position should be a pleasant experience. If it is not a pleasant experience than perhaps something is wrong.

To use the old catch phrase: Plan the trade. Trade the plan. With any plan the risk levels must be set before entry. Always determine the exit strategy before entry. So, if the trade goes against you then you are out before any major damage takes place. You take a chance and play, you lose, but you followed your plan, so you move on and look for the next opportunity. Take pleasure in playing the game because the next time may be a winner.

Thank you for your time.