By John Sage Melbourne
If it does not pay off the first time,forget it.
Never stick with an investment because you think it owes you money. How can an investment owe you anything? If initially you don’t succeed,to hell with it.An investment is not a relationship that you can ‘save’ if you work harder at it or stick with it longer. You understand whatever you need to learn about it now,you can see its efficiency right in front of you. Do not get attached to it,remain mobile– you don’t get any additional points for loyalty here!
Minor Axiom XV: Never try to save a bad investment by “balancing down”Balancing down indicates buying into an investment that you are already in and loosing in the hope of balancing your buy in cost at a lower level in order to comprise the loss you have actually already sustained.A much better technique is to take you loss and move on.
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Do not protect with a failing investment. Keep your flexibility to act on new financial investments without the recommendation to your existing investment or attempting to recover a loss position.
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