I have often wondered about the people who have lost a lot in gambling and who almost loose in every gambling activity they participate. What is their reason or motivation to continue even after so many losses?
One of the reasons is because there is hope in it, apart from that are emotional factors, logical factors and hormonal factors which cause someone to continue gambling even though they often experience defeat. A person's emotions will increase when the situation is almost winning but ultimately loses, this challenge will increase emotions to take back all the money that has been spent. The logical factor also plays an important role in causing gamblers to dare to take risks even though they often lose, winning is the ultimate goal, when other people have just won big, they will play logic by thinking "if other people can win, I can also win like them ".
When emotions and logic have mastered a person, hormones will work which encourage a person to repeat the activities they do, especially since there is excitement, challenges and hope.
Yes, it is very true, this in fact reminds me of the books that I have read by Wyckoff on trading, his way of doing operations were impressive, but even so, the trader has to forget about his emotions and tries to do things with the reason, that is, changing the scheme of our sentimental logic for mathematical logic, when we are in a situation and we are winning, it is well, we feel like we are kings of the world, only because we are making money and that does not increase confidence , self-esteem and everything, but when the losing streak comes, the reason for feeling and emotional influences a lot, that is, if we are losing we have the hope that things don't go well again and we recover, even so we will continue playing and betting no matter how we are doing In the casino, we just keep betting that we will win and betting that obviously when it comes to doing things better they turn out well, and we hope that we have a victory.
We could define what we hope for as hope, and that is the correct term in WQyckoff's theory, but it is not the same although it is clearly an analogy to compare both cases, but there that hope remains to see if we can recover. , because if we continue in this way we will lose more, it is logical, wait to see if we can win but that is where we must stop and not continue any further, because we can be victims of our own hopes, as this is so similar in trading, Well, I read what we should do is simple, get out of there, give up hope and close that possibility, that is, we must cut the losses, and extend the profits, which means that if we lose we will continue, not play anymore, or wait for opportunity. , but do not continue insisting, in case you are winning, then continue playing and winning, do not cut to profits, but go ahead and win, that is what is always recommended.