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You are stuck in classic gambler's conceit[0] (Essentially: when you are behind you believe that you can quit while you're ahead, but when you are ahead you fe
by ronaldx 13y ago
You are stuck in classic gambler's conceit[0]
(Essentially: when you are behind you believe that you can quit while you're ahead, but when you are ahead you feel confident and prefer to press your luck)
In general, if you are investing some place that makes you feel anxious or emotional about the consequences, it's far too volatile and you should cut your investment down.
The best way to escape from this situation is to make an exact plan and stick to it. Would you rather walk away now, or risk a worse loss later? Then, at what value will you cash out? I understand you are attached to your initial investment cost, but really 100% is the valuation now, since the rest is sunk costs.
Decide how you like, but firmly - take the emotion out of your decision making.
[0]https://en.wikipedia.org/wiki/Gambler%27s_conceit https://en.wikipedia.org/wiki/Gambler%27s_conceit