No single mistake leads to poor returns. A consistent pattern of mistakes does.
And a consistent pattern of mistakes indicates larger problems. Poor returns and losing money are just symptoms.
Having said that, I believe poor performance can usually be attributed to these four big root problems:
Lack of hard work: without hard work, your only hope is to get lucky
Lack of process: until you have a process, you don’t know what you are doing
Unrealistic expectations: without realistic expectations, you are set up to over-reach
Complacency: being complacent leads to getting punched in the face
On a daily basis, these problems transpire as tangible symptoms that mathematically eat away at returns.
Trade Nivesh Investment adviser
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