The best insight about trading

This is probably the best thoughtful summary about what trading is about. It is about probability and no one has a 100% certainty. Don't be upset about failure but try to learn how to minimize the size of failure and maximize the magnitude of winners. I'm still constantly learning about it. 

From my experience, I've seen most traders take an open-loop approach to their trades. They assume a trade is "good" if it makes money, and "bad" if it loses money.

But the problem with this approach is that it ignores trading is a game of probabilities that comes down to the quality of your plan.

The hard truth is that even the best trading setups fail. You can do everything right in terms of picking your next trade and still end up losing money.

Just because a trade was a winner doesn't make it good. And vice versa for a losing trade. What matters is how many net winners you will end up with out of 100 similar trades.

Successful traders understand this concept and accept that they have control over everything except what the market will do next.