What's the difference between a new trader and an old trader? The new trader thinks that every loss is the end of the world. The old trader knows it's just Tuesday.
I asked my librarian about a children's book where Pavlov's dog and Schrodinger's cat team up and go on adventures. She said it rang a bell, but she wasn't sure if it was there or not.
Airman Jones is assigned to the onboarding center where he advises new recruits about their government benefits, especially the GI life insurance policy. It isn't long before Captain Smith notices that Airman Jones has a staggeringly high success rate, selling insurance policies to nearly 100% of the recruits he advised. Curious, the captain stands in the back of the room and listens to Airman Jones sales pitch. Jones explains the basics of the GI life insurance policy to the new recruits. He then adds, "If you buy this insurance and die in battle, the government will pay $200,000 to your beneficiaries. If you don't have this insurance, the government only has to pay out a maximum of $6,000." "Now," he concludes, "think very carefully. Who do you think they're going to send into battle first?"