Originally appeared March 2010
Losing and failure are not the same thing. No matter the outcome of the trade, I am guaranteed two things: I am paying commission and assuming my head is not up my ass, I learned something about myself, the market, and the relationship between the two. Fortunately, losing is a part of trading. Yes I said fortunately, if everyone won the best could never be rewarded. Failing on the other hand is not necessary. What is the difference between failing and losing?
Having less capital because of something I know. FAILURE
Having less capital because of something I should know. LOSS that can turn to FAILURE
Have less capital because of something I do not know. LOSS
Are you losing more or failing more?
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