Quote from: sana54210 on June 30, 2022, 06:28:21 PM

Quote from: kamvreto on June 29, 2022, 02:33:19 PM

mistakes in the past being the best teacher, an experience that should really make us able to avoid the same problem. It takes several tries to avoid the same problem, every trader has their own strategy, but what is certain is that avoiding losses is something that must be done. We also have to have control over the trades that are being made, lest the traders only get losses.

Making losses is fine, not letting them get to us is the real treasure in the trash. If we could keep our heads high and keep on doing something that is profitable for the future, then we will be fine. Those losses should become our school books, we should be able to learn from them so well that in the future when we are about to make a mistake, we should remember the mistakes we did in the past and avoid doing them again.

This isn't hard, sometimes you make the same mistake two or three times or even maybe more before you learn to avoid them. But as long as you learn, and you do not make it again, they are still our lessons and they are valuable.

True, however there are three conditions necessary for us to learn from our mistakes, the first one is that the mistake needs to be small, as even one big mistake is enough to destroy your account, and if that happens regardless of what you learned most likely you will never become a successful trader.

The second condition is that we need to keep detailed records about our trades, after all it is very easy to repeat the same mistake if you cannot identify that you have found yourself in the same position already in the past and that you already made a mistake when dealing with it.

And the third and final condition is to be humble enough to accept there is still something we can learn, this is important as there are many traders that feel they know it all, and if that is the case then there is nothing left for them to learn, so only those which admit their own shortcomings have any ability to learn from their mistakes.