Yes it's something we hear a lot in sports betting, but the truth is that setting a limit on your bankroll applies to any type of betting or any type of gambling you engage in. In gambling, you can win at any time and in any amount but of course you can also lose in amounts that are usually much larger as time goes by, and the majority of gamblers forget this which in the end makes them continue gambling without setting any limits on their budget.
In gambling, placing limits on the amount of your budget can be one of the main keys to avoiding bad effects such as losing large amounts of money, and also usually the majority of gamblers who always bet large amounts always find it difficult to accept the situation of losing, and I think that's normal. because after all we don't like losing money, therefore there is no other way than to limit the amount of our bets, the benefit is that it can prevent us from getting emotional and also from losing large amounts.
Limitations are absolutely important whether you are betting on a friendly poker game or the stock market. You run risk of money, sanity, and peace of mind without restrictions. That is greater worth than winning streaks. I have traded and invested multiple times, thus discipline is quite important. Recognise and respect your limitations. Let not feelings rule. In terms of money and life, you lose great amounts.
It takes self-control to know your shortcomings and stop them from dictating you. Your money and yourself merit respect. You know, what? Fun is also really vital. Gamble for enjoyment rather than fear and regret.