FAILURE – The key to success in trading
Trading is not an easy game, and mistakes are inevitable. But the issue is not whether you will make mistakes, but how you handle them.
Develop a habit: write down all your mistakes in daily trading. Don't just remember them in your head – write them down specifically. The times you rushed into trades, did not adhere to discipline, or were too confident and overlooked analysis.
Learn to analyze your mistakes:
Which mistake caused you the biggest losses?
Which mistake do you repeat multiple times?
What do you need to do to correct those mistakes?
The common trait of successful traders is not that they never make mistakes, but that they always analyze their failures and never allow themselves to make the same mistake too many times. Mistakes are valuable lessons, and if you do not learn from them, you are wasting your money and time.
Trading is a journey, not a destination. Time will prove that if you seriously acknowledge your mistakes, you will gradually become a better trader.
Remember: failure is part of the game; without failure, how can you learn to win? But don't let failure discourage you; "fail small many times" so you won't be eliminated from the financial game before you can start walking on your own two feet.