Commitment

The principal difference between considering an Investment or trading approach and actually entering the market is the commitment of money. When that occurs, objectivity falls by the wayside, emotion takes over, and losses mount. Adversity is to be welcomed because it teaches us much more than success. The world's best traders and Investors know that to be successful they must also be humble. Markets have their own ways of seeking out human weaknesses. Such crises typically occur just at the crucial moment when we are unprepared, and they eventually cause us financial and emotional pain. If you are not prepared to admit mistakes and take remedial action quickly, you will certainly compound your losses. The process does not end even when you feel you have learned to be objective, patient, humble, and disciplined, for you can still fall into the trap of complacency.
It is therefore vitally important to review both your progress and your mistakes on a continuous basis because no two market situations are ever the same.--Martin J. Pring,Investment Psychology Explained