Traders who are successful are able to quickly correct their mistakes because they have a better understanding of the consequences of making decisions under uncertainty. They know that it’s not always necessary to take the trade that wasn’t meant to be in order to salvage something good from the situation.They know that sometimes good ideas don’t work out, since there is always some uncertainty involved. This makes it more likely that they will be wrong some of the time. Great traders always have a reason for putting a trade on, and they always have a reason for taking a trade off. The traders in the market focus on the reasons for their trades, rather than the short-term results of those trades.