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Pete - a simply question for you:
Do you keep a diary or log of how your trades go and do you analyze them in
depth. If not, you should.
When I make a mistake with a trade I spend as much time as it takes to figure
out what I did wrong or why the stock didn't do what I thought it should (what
didn't I know or do). It is a lot of work but that's how I learned (and
continue to learn) trading - endless research on what went wrong. *I never
give up on this. Sometimes it takes me hours or days or even weeks to figure
it out but generally, I come up with a very logical answer (stumble across it
might be more accurate). I then use this information or technique sometime
in the future (sooner or later - it always benefits me again sometime).
If you work in industry this is called "continuous improvement." Give it a
try. If you aren't willing to do this (maybe you already are) then you are
probably not cut out for trading.
I still make mistakes but they are fewer than they used to be and the wins are
bigger and better.
*Obvioulsy I don't work on this full time but I do put in a lot of effort
in on it.
Norm
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