“Was there an error on my part?”

To determine if an error was made, it’s important to first define the context and the criteria against which the decision or action should be measured. Consider the following steps:
Clarify the Objective: Understand the goal of the decision or action. Was it to achieve a specific financial target, to adhere to a particular strategy, or to stay within a set risk management policy?
Review the Process: Examine the decision-making process. Was the analysis thorough? Were all relevant data points and factors considered? Did any biases or emotions influence the decision disproportionately?
Assess Outcome vs. Expectations: Compare the actual outcome to the expected outcome. A negative result does not inherently mean a mistake was made, particularly in environments with inherent risks like trading, where decisions are often probabilistic.
Consider External Factors: Identify if there were unforeseen external factors that influenced the outcome. Sometimes, external circumstances can cause unexpected changes, impacting the result despite a sound decision-making process.
Learn and Adapt: If a mistake is identified, consider it an opportunity for learning. Analyze what went wrong, determine how it can be avoided next time, and integrate these learnings into future strategies to enhance decision-making.