I heard an interview with a trader (https://www.youtube.com/watch?v=1ETvTftY-tw) who never takes a trade that he is not willing to accept a complete loss on. I'm thinking about that PLTR protective bear spread that I sold when it was halfway to a $600 loss,, and price moved so it would have ended far in profit. By his philosophy: I should have halved the profit, not done that. I got greedy. His way of thinking is I should have taken half the size spread instead or not taken the trade at all. But I don't know, because it was protective... I was trying to protect against a loss. (Actually I should have used a collar.) In another video, this same guy said "Stop swinging for home runs. Start stacking small trades." Which fits.
He said "I only enter trades where if it goes to zero, I'm still good." He's limiting loss rather than chasing profit. (https://www.youtube.com/watch?v=0cYgHeiW3Cw)
