It Doesn't Matter
“How can one decision destroy me?”- a common belief
According to James Altucher:
Lesson#9 It doesn’t matter if a trade (or a day, or a life) is good or bad
Our lives are full of decisions. We makes so many decisions that our brain can not process all of them. Well it can but it chooses the automatic response most often. This is done so that we actually do something instead of just think all day.
Even though most thoughts we have are the same as the day before and our actions mimic what we have already done, we need to not take those thoughts and decisions and make them so automatic. They do matter.
I disagree with James that these decisions do not matter. They do. Especially if we want to improve and get better.
For the financial perspective, we must take our best shots at the market and when they do not work out spend a little bit of time analyzing what went wrong. What was our thinking and doing process? Do we need to adjust it somehow? We need to taste the pain of the loss.
After a small amount of time is spent thinking about the loss we need to move it behind us and not dwell on it. We have tasted it, now we need to improve the next trade.
Today’s question is:
“How do you analyze a mistake?
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