Member-only story
Winning by Not Losing: How to Overcome Trading Mistakes
If I ask you to think about your three most frustrating trading moments, what comes to mind?
If you’re anything like me, it won’t take you long to have an answer. Those trades live as vividly in my memory as my most satisfying profits. And It’s not just me. Whenever I meet up with other traders, the conversation always finds its way back to ‘the ones that got away’.
There are two main categories of frustrating trades: the missed entries that would have been huge, and the ones you exited at just the wrong time.
Either way, it’s usually due to a mistake you’ve made. What makes them frustrating is that you should have known better.
Scientist Simon Ramo once wrote:
“In expert tennis, about 80 percent of the points are won; in amateur tennis, about 80 percent of the points are lost. In other words, professional tennis is a Winner’s Game — the final outcome is determined by the activities of the winner — and amateur tennis is a Loser’s Game — the final outcome is determined by the activities of the loser.”
