It's ok to take a big risk, under one condition
Dutch PM Rutte is on the wires saying if Greece doesn't come up with a proposal soon, Eurozone leaders won't be able to help.
There's a trading lesson in how Tsipras appears to be squandering the referendum win. He basically bet his entire political career on the vote. He won it convincingly but somehow he's finding a way to blow it.
It's like making a massive trade and getting it right and then still somehow losing.
Tsipras needed to have a plan on how to seal a deal after winning the referendum.
The lesson is: If you're going to take a massive risk, have every part of the trade planned out. Contingencies and exit strategies need to be mapped out, levels and timelines need to be pre-planned. There will always be a touch of improvisation on new information but a strong framework is the backbone of the trade.
Don't be a Tsipras.
