Champions Manage Their "Losers"

If you follow the Wall Street pundits, you know that every authoritative pundit will say that the trick is to "Manage Your Winners." Any person who has actually traded or invested knows that this is bull. Any two year old can take gains...that is the easy part...What is left after the gains have been gotten, is the losing positions...And the solution to those losing positions is the difference that makes one a champion... Directly facing the losing position, and taking additional options positions or stock positions to mitigate the potential loss is what distinguishes rookies from successful investors. The worst of all worlds is to DENY or COVERUP the losing position...Ah the memories of the famous "London Whale" saga....Those who cover up or deny when working for a trading firm end up in shame or jail or both. Champions manage their losers.