Quote from Stanley Kroll, author of Professional Futures Trader book

If these quotations don't sound familiar, either you have just
started trading or you have a very short memory! These nearly
universal quotations express a nearly universal phenomenon-
thst is, we invariably find a convenient way to rationalize our
errors. mistakes, and miscalculations. May I suggest a sum-fire
antidote to this lomrs mentality?
Analyze your markets and lay out your strategy and tactical
moves in privacy. Don't ask anyone': advice—t.hst includes bro-
kerage advisories, market tips. and even well-intentioned floor
goaip. And don't offer your advice to anyone else. You don't care
if Cargill is buying com, Gill and Duffus is selling cocoa, or
Salomon is buying bonds. You stick to your objective analysis and
market projection based on whichever method or technique has
proven itself viable to you, and you revise that strategy only on
the basis of pragmatic and otflective technical evidence. Such
evidence oould be a signal from your charts. from your computer
system, or from your friend the margin clerk, who reminds you
that your position has moved adversely and that your account
has become undermargined. In short, if you do make money in
your trading. stand up and take the accolades. lf you lose money,
you alone take the rap. Obviously, you will need the confidence
and the courage of your convictions to trade into or out of a