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For me setting limitation is good but still it is not enough, what gamblers should focus in the mastery of the art of discipline and also the art of risk management. Gambling can give us high rewards, but it can also give us huge losses especially if we just betting without conviction. The art of discipline that I'm talking about is conditioning ourselves that there is no sure profit or guarantee winning in gambling, all of the strategy and all of games have risks even though it can give high returns. When I do gambling, I really know that there are 4 possibilities which are winning big, winning small, losing small and losing big but I usually avoid losing big because it can affect my psychological capital that can cause for me to stress and made more wrong decision. Losing is normal as long as it is small but I do not consider it as normal if you are consistently losing in gambling. Those professionals gamblers are really discipline when they do gambling and it is the reason why they have high winning rate.
Setting limitations is part of risk management because that can help you to avoid a big loss. If you can stick to the limit, you made before and have discipline, and I am sure you don't have to be afraid to lose too much money because you will remember your limit and not try to break it. What you said is part of the limitations because you avoid losing big. If you avoid losing big, that could mean you only use small money to gamble, which is part of the limitations that I mention. If you can discipline and know the money you use to gamble, you can avoid losing big, and you have your chance to win, although it is not too big.