Mandatory seems to communist or socialist for my taste, so long as there are volunteers. But, it could help a lot of folks who don't know they could use it... I've seen a lot of lives changed for the better with military service, including my own. #SemperFitwitter.com/Warlordsix/sta…
And to account for mistakes, predefine risk the best you can to increase the odds of a positive asymmetric risk/reward.
What is the potential loss?
What is the potential gain?
What is the probability of the gain/loss?
That is your expected value of the decision. twitter.com/techsaleslatin…
After a stock falls -10% or -20% the human may wish it had sold at the prior high.
Once the price trends back up, the human may feel relieved but remembering the pain it sells... driving the price back down to tap that low again.
Timing is everything.
It's always a good time to know how much risk you are willing to take in a stock.
For me, that necessarily means knowing when I'll exit if it falls.
How much is too much? to cut the loss short.
After stock prices fall -10% the human my wish it had sold at the prior high.
Once the price trends back up, the human may indeed sell once it reaches that prior high, remembering the pain of not having sold when it was down.
@gregory_rothery In honor of Niki Lauda, I ordered the movie Rush from @netflix, one of my favorites, to watch this week. Luckily, I happen to be going to the @IndyCar#Indy500 this weekend! Looking forward to it!
Taking a loss, for me, it never a mistake. I predefine when I'll exit a position in advance of entry, so I've already decided my potential loss (risk). Taking a loss, if it happens, is just part of my process. @MikeWShell
Tactical definition as it applies to business not just portfolio management: “The use of tactical management in a business environment allows a manager to choose the best tactics or methods for each situation that arises, rather than following a particular standard procedure.”
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