Doubling Down

BAD BEATS GOOD

Apparently, when we have something bad happen - it takes 2.5 good things to make up for the bad. That is why when gamblers lose on the roulette or blackjack table, they double down to recoup their losses. If, like me, you're trying to get an advantage with day trading, the same rules apply. Hence why a small couple of losses have put my head in the sand.

We are all hard-wired this way. We're afraid of losses and this article covering The Psychology of Loss is really helpful if we're to better understand how to work against our fears in order to make gains and ultimately successes before loss aversion sets in. To overcome loss aversion, we need to take control of our fragile ego and this great article about developing the will to win, can help us take the rights steps.