Sometimes Taking the Loss Is Winning
The moment you start thinking without being controlled by pressure and emotions, you have overcome one of the problems in life that many people find difficult to overcome, and that has been the downfall of many.
I have been there, and I cannot say I have overcome it totally because it is not even possible to completely overcome pressure and emotions when it comes to financial decisions. We really do not know the outcome of some of the financial risks we take, but the potential profits often make us do things that can put us in a very bad situation if things do not go the way we want.
One of the times I was proud of myself for not letting emotions and pressure get to me was a while back when I was playing a game that involved climbing a leaderboard.
The top 30 reward was very juicy, so I was trying my best to at least get into the top 30. But after spending $35, I was still in position 50, while the people above me were spending recklessly without calculating how much they were spending compared to how much they would earn as a reward.
One part of my mind was telling me to join them and make sure I got into the top 30, but another part was telling me that I might end up making a loss because the reward in the end might not cover the money I spent.
source
One thing I noticed was that the players at the top were ready to spend whatever it took to remain in the competition. I was curious to know if there was something at the top that would balance out the money they were spending, but I was not ready to find out with the little money I had in my account.
So, I gave up on it.
In the end, I finished in the top 70 and only gained $20, meaning I ended up losing $15. But honestly, that was better than adding another $50 and still ending up in the top 70. The loss would have only been bigger.
This is one of those moments when I am proud of my financial decision and proud that I did not let my emotions get the better of me.
Sometimes, the smartest financial decision is not to chase the reward. It is knowing when to walk away.
Just call me Burl.
I am a professional gamer, motivational speaker and a crypto enthusiast
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El otro día me identifiqué con los $35 que gastaste intentando entrar al top 30 y, lo que aprendí, detenerse antes de perder $50 es una jugada inteligente. La ilustración de la escalera me recordó a esas decisiones donde el riesgo supera la recompensa. In my experience, walking away saved me more than chasing a prize 👍
Yes, it is better to cut our losses and bear the little loss than to lose everything because we cannot control our emotions and keep trying to win everything back.
Exactly dear. sometimes taking the loss is winning..no be 🤥 lie
Yea✨✨
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STOPSending you an Ecency Points tip!
Sometimes you just take the little loss and bounce rather than bigger losses that will keep playing in your head for a week or two and that voice of regret whispering in your ear from time to time.
Yea, right... More loss would affect me greatly. The loss I have already taken can still be borne, so letting go and not risking more is the wisest decision at that moment.
I think if you had a lot of money at that time, you'll probably not mind putting it, I think being on limited budget sometimes makes us really careful with how we spend. It's a great financial lesson
You know what? You are right! Lol
Not having excess put me on a tight spot, so I need to think and think to be sure I am not going to suffer greatly for the decision lol
Walking away at times is the best decision one can make. You made me remember the Who want to be a millionaire show back then. Thanks for sharing
Yeah, we must know when to walk away. Thanks for sharing.