Amount Quote by Richard Dennis
“I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.”
About This Quote
Source Book: Market Wizards, 1990
Avoid chasing losses; allow time to recover before making new decisions to prevent impaired judgment.
In simple terms: Don’t rush after a loss; wait before trading again.
Key Takeaway
Pause and reset after setbacks.
Themes
risk management
discipline
psychology
Mood
pragmatic
cautious
Type
advice
instructional
When to use this quote
- stock trading
- investment decisions
- loss recovery
- decision making
Key Concepts
trading strategy
behavioral finance
Questions to Reflect On
- What rules can you set to enforce a cooling‑off period?
- How do you recognize when loss bias is influencing you?
A Different Perspective
Waiting may cause missed opportunities; market conditions can change quickly.
