Originally Posted by
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I have been trading for more than 10 years and have found that studying why I made money was much more powerful for my development compared to studying why I lost money. It is a lot easier to concentrate on something which works and exercise doing it over and over, rather than preventing the dozens of drawbacks in an endeavor to have a right outcome. Studying failure is only going to get you failure in the long run. Studying success brings success.
The main reason is that there are a virtually endless number of approaches to lose but a limited number of approaches to win. The best way to get past losses is to concentrate on what's working, or in focusing on doing things the right way. You may say that Edison himself said that he had found 10,000 things that didn't work in making a light bulb. However, the truth is that Edison was concentrated on what was working in bringing him closer to finishing the light bulb, and also compiling the components in the right manner. And when Edison used his imaginative mind to create the phonograph, he did it right the first time - that the sole innovation where he did this.
In the long run, you are going to get much further by modeling your behaviour after those that are effective than by learning about those who lose and trying not to follow into their patterns. That's why there are no publiions called Market Duds.