Psychological Rule #5: Repeating the Same Mistakes Over and Over is Self-Sabotage.
Let' me repeat the title. Repeating the same mistake over and over again is self-sabotage and still holds, even when you don't know you are making a mistake.
So let's look at when you don't know you are making a mistake. If you blame something/or someone else, you won't recognize how you made a mistake. If you justify what happened (oh, the market is really crazy!), then you won't know you are making a mistake. If you blame yourself (I'm a stupid idiot!), then you won't know you are making a mistake. You must recognize what your contribution was and call it what it is.
And what are example of big mistakes. Entering a trade because someone else tells you about it. Entering a trade without a system. Entering a trade without a predefined exit point. These are mostly what I call "Tharp" fundamentals and I could go on and on, but they are all mistakes.
And when you repeat them, its really terrible.








