Idea Ripper // ArchiveCards: 1555 [Live] | Updated: 2026-10-14
Card #c1284IR // #c1284Synthesis

"Ask yourself regularly: Am I trading for fun, or to make money?" "If you find yourself putting on the “correct” position size and then 15 minutes later doubling it because you’re bored… You’re trading for excitement, not to make money."

— In our words · Source: Trade Outside the Box (Brent Donnelly)

[Use when]

You notice yourself raising the stakes on a decision because the safe version feels dull.

[Why it matters]

Donnelly says position size should come from a calculation. Doubling it out of boredom signals that excitement is driving the decision. Being honest about the motive is the first step to separating the two.

Filed under situations:When your picture of things might be wrongWhen you must decide and the facts aren’t in

More from Trade Outside the Box

#c1278"Keynes asks us to imagine a newspaper which holds a contest where readers are rewarded for choosing which contestant will be chosen by the…You're right on the merits and need to predict how a crowd, market or committee will actually decide. #c1279"Younger children, or those without a fully developed Theory of Mind, will say that James will say: “pencils,” because they are unable to…You're sure the other side must see what you see. #c1280"There is a market aphorism that says: Early is the same thing as wrong." "You underperform as you wait for your dream trade to come true…You're about to bet against a trend just because it has gone a long way.

Same situation, different book

#c1232The brain jumps to conclusions, paper doesn'tYou're about to make a decision you've only reasoned through in your head.From How to Take Smart Notes #c1216Darwin's golden rule: write down the objection at onceYou're building a case for a plan or a thesis and want the objections in hand before anyone else raises them.From How to Take Smart Notes #c1565The Fourfold Remedy, Desire Triage, and Static vs. Kinetic PleasureUse when auditing your personal burn rate, stripping scope creep from a product roadmap, or breaking the…From Lives of Eminent Philosophers #c1544The Boundless Soul and the Dæmon-Filled WorldUse when diagnosing why smart people locked in private ideological bubbles exhibit rigid, convulsive…From Lives of Eminent Philosophers