Everybody makes mistakes. The key is to learn from them and avoid making the same mistake over and over again.

A subscriber who veered from Keith McCullough’s process asked if he should take his losses now that he’s down -12%. 

“You’ve made mistakes that aren’t the mistakes that I’ve made,” Hedgeye’s Risk Manager In Chief explains in this clip from The Macro Show. “Now your question is, ‘Do I make another mistake, Keith, and at the top end of the range, do I cover and capitulate?’” 

McCullough adds: “Your problem is not unique, that’s the problem. So many people can only focus on QQQs because that’s what the other teams and Old Wall focuses on. You’ve really lost your way here.” 

Watch the full clip above. 

McCullough: Learn From Your Mistakes, Don’t Add to Them - TMS Banner