A nice straight forward take on this. Thanks Todd. I come across this every day in sports trading. The urge to hold a loser with no hope of change is strong. The advice to ask “where best to put my money” is good.

In a sports trade, for example, you can scratch a losing trade and find another opportunity in almost every game. If timing and fortune permit, you can even re-enter your earlier trade if the momentum turns back the other way for a greater profit than if you had held that same loser and watched your capital depreciate.