The concept behind Expecting to Lose is taken from trading. I myself had brought this idea from trading into the gambling table. Traders call it cutting your losses. It involve allocating a small amount to lose in the event that your decision is wrong. Should it turn out that you are wrong then you accept this small loss and try again next time.
If losses are kept small it would be easier to recover later. If you allow losses to run the amount maybe too high and it would require several consecutive winning sessions to cover it back. I am not talking about chasing losses. Traders must try to end the day with profits. Failing which, they must try to end the week or month with profits. If you keep losses small, it will manageable. Other winning sessions will cover it to end your week in the plus territory and there will be no losses to chase.
Since we are coming to the ending of the 36 Casino Gambling Tips, I just like to record a side note on my suspicion that SavySeph is also a trader and gambler like me. I had made this reference a few times in the comments on her blog pages but she had been silent on it.
Expecting to lose is good mental preparation.
ReplyDeleteMental preparation for losses help you deal with it when it happens.
DeleteA sore loser need to learn how to accept losses gracefully.
ReplyDeletePreparation to accept the negative in the backdrop of uncertainties is a good practice.
Delete