It’s better than picking up 800 pounds of baby clothes
 
   
     
   
 
JANUARY 3, 2025
   

Last night, I was thinking about one of my favorite expressions… 

I had been helping my brother give away some of his daughter’s clothes. She’s growing fast, and size 6 clothes no longer fit her… but she had a lot of size 6 clothes! 

We ended up with about six bags FULL of clothes ready to go to the donation center.

And just as I was about to throw my back out by trying to pick them all up at one time, it hit me…

Like a voice echoing through the generations…

“Discretion is the better part of valor” 

I think about that expression all the time.

If you’re a non-native speaker, it basically means “being brave or noble doesn’t mean taking stupid risks.” 

In this situation, it meant that I could take two trips and still be a good, strong uncle, or I could take one trip with six bags and be a crippled, unhappy uncle.

I ended up taking just two or three bags at a time…

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Now, sometimes pithy expressions are just that.

But I actually think this one is great life advice, especially for traders!

Trading contains plenty of risk under the best circumstances. We all know that. 

So there’s no reason to add more risk than you need to.

There’s no advantage to taking a trade just to take a trade. There’s no glory in jumping into a position you don’t believe in. 

Discretion is the better part of valor. 

And not losing money is often just as good as trading… sometimes better! 

So just don’t push yourself to do something that might come back to bite you, whether that’s picking up 800 pounds of baby clothes or taking a trade you aren’t 100% confident in.

You’ll be thanking yourself before you know it.

To your prosperity,

Stephen Ground

Editor-in-Chief, ProsperityPub