Some of us have a hard time stopping when we’re already losing. We tend to chase losses and end up burning through whatever balance is left in our account.
Sometimes, we even have a set amount meant to last for a week of gambling but once we start losing, we get caught in that mindset of trying to recover fast. We start gambling like there’s no tomorrow. What makes it worse is when our bet size increases along with the frustration.
Chasing loss is a very bad thing in gambling, this is not a good thing also in trading which many people fail to understand and lead them into losing more money. Chasing loss is not you going to not accept the fact the bets comes out with, it’s part of the game and you can lose and win at anytime depending on what the bets got on you that time. When you have a budget on your gambling plan, you should stick to it no matter what to avoid blowing up your bankroll.
So the real question is: can you stop and call it a day when things aren’t going your way?
Yes, this is very important to keep a proper risk management in gambling activity by anyone. The nature of your gambling habits shouldn’t make you allow your emotions to take the better part of you as that will lead to more loss and eventual regrets in the end. When things aren’t going your way, it means you should let them be and come back another day to try your luck again.
