Now the general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand. Thus do many calculations lead to victory, and few calculations to defeat: how much more no calculation at all! It is by attention to this point that I can foresee who is likely to win or lose.
The Art of War
Does it apply to trading as well? Yes. People who consider every possible outcome before placing a trade always manage their risk well, while those who make decisions in hindsight tend to lose larger amounts.
For example, I always say that it’s always good to keep some amount in stables. After February’s bloodbath, many are now wishing they had some reserve cash.
It's still not too late—you’re never too late to start.
