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One of the most common mistakes I see is people clinging to losing trades or investments desperately hoping to break even Even when they know it's a bad position, and something else clearly provides more upside. They will remain stuck. There's obviously a huge opportunity cost in that, but a pretty heavy emotional cost too but at the end of the day it's only worth what the market will pay for it. And you have to compare that value vs value somewhere else. Letting go can feel painful in the moment, but I've found it almost always lets me move on and feel more positive in the future. It clears your mind, it frees up your capital, and lets you put on better positions. Obviously, one important thing is trying to realize quickly when you are wrong vs letting that idea continue to be wrong.