This is the sensible way to not stick your neck out. You can come back and play the game again tomorrow. Losses tell you something is wrong. If you don't know how to determine when you are wrong, you are waiting for a disaster. Tech stocks over 2000 that went straight down are a very good example.
Most people when faced with losses hold on and hope for a bounce back up.
Obviously, GAP had a system for deciding that the time was right to exit a substantial portion of their Priceline position. They made a killing and now Priceline is all but worthless. Lifestyle Lifestyle control is key for profitable trading. Some of the best traders alive are very frugal. They don't get caught up in the lifestyle they want to lead, the type of house to live in, the next sports car to buy or the kind of wealth they want to obtain.