1.      It’s okay to be wrong as long as you aren’t very wrong for very long. The worst thing is to be stubborn and override your process because you are emotionally invested in what you believe.

2.      The expression “you’re only as good as your last trade” is incorrect. You are only as good as your process. One can get a trade right for the wrong reasons, and a trade wrong for the right reasons. It is crucial to distinguish the two for long-term success, and stick to your strategy.