The worst mistake any gambler can ever make is chasing your losses after losing money, learning risk management is very important
Even if there's a possibility that you might recover, the best strategy is to do nothing for a while, give yourself a break, this is where self control comes in.. chasing your losses or using the martingale system might just put you in a more precarious situation
If it's a casino game just do your best not to play again, find other things to do to get your mind off it
Always tell yourself that the money you lost is gone, don't try to get it back, instead learn from your mistakes and move on
Exactly, the way to minimize losses is not to add to other losses, meaning you have to stop betting and never add other funds to recover losses, because there is no guarantee that you can recover losses and you will even add higher losses. So the basic rules of gambling must be to set a gambling budget as minimum as possible for gambling use, this is to prevent you from getting depressed and stressed from losing gambling and also anyone will not have a problem with losing minimal funds in gambling.
exactly that is what most people don`t understand whenever they experience any form of losses they always think that i guarantee of them getting it back without knowing they may endup increasing or multiplying their losses in the process of to get back what they have loss. gambling and trading is some related in this aspect , like one trading to minimize losses and to win small rather than to lose more, so gambling should be more of fun and minimzing losses also . so that can avoid stories that touches the heart.