You Can Make Money the Wrong Way And Lose Money The Right Way

Sometimes I've got to remind myself of this.

The correct way of making and losing money is:  risking small controlled amounts of capital in the direction of the highest probability/when you believe you have an edge.

The incorrect way of making and losing money is:  risking large uncontrolled amounts of capital even in the direction of the highest probability as this will very likely eventually lead to a sudden and catastrophic loss / bust because edge's fail regularly.