This is a masterpiece by Morgan Housel. I definitely would have been a better person and consequently, a better trader if I had read and most importantly, imbibed this in my life earlier.
The reason I’m saying this is not because I made huge losses. I didn’t. I was lucky enough to be profitable. But, I missed something bigger and that it is not just about losses or the numbers. The opportunity costs are way too high when we are young and that’s what we need to focus on when we do something especially if we are into full time trading.
Whole article is a masterpiece but here are some of my personal favorites:
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What a terrible thing to realize when it’s too late. And I wonder if it’ll become more common as many of us spend our days aimlessly scrolling our phones.
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Risk isn’t how much money you might lose. It’s not even necessarily how you’ll feel when you lose it – over time, a lot of painful experiences turn into cherished lessons. Real risk is the regret (or lack thereof) that might come years or decades later.
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The other side of this is that most ordinary people can afford to not be a great investor, but they can’t afford to be a terrible one. Warren Buffett once remarked on the failed hedge fund Long Term Capital Management and said, “If you risk what you need in order to gain what you don’t need, that is foolish. It’s just plain foolish.”
Please give this short article a read and maybe multiple reads. I, for sure, will do it till each word is imbibed in my thought and being. 
. I guess addiction and obsession need to be controlled. But something is not bad as is.
