Failed trades ultimately stem from a lack of respect for the market.
The specifics are as follows:

1. Ignoring price action, instead assuming the market will move as desired based on one's position.
When the market moves against them, traders not only fail to correct mistakes but justify them with laughable excuses. The market always presents possibilities—entries are merely probability assessments. If wrong, exit immediately; stubbornness is fatal.

I’ve profited from both long and short positions in sugar. After a pullback, I once held longs but pivoted to range-bound shorts when the market signaled consolidation, accepting minor losses. This strategy remains effective.

2. Trading based on "smart money" or "manipulators" rather than price action.
All institutional behavior is reflected in prices—no need for speculation. Invoking figures like Jim Rogers is equally pointless.

No one’s word is absolute truth; even if correct, execution matters. A correction in a bull market can still wipe you out. Remember: Markets test everyone—Rogers included. Prices move faster and truer than any guru. Why trust hearsay over hard data?

3. Justifying losses with "the long-term trend is intact."
Futures leverage amplifies risks and rewards tenfold. Even correct long-term calls mean nothing if short-term risks aren’t managed. It’s like the stock market adage: "Short-term turns to long-term, long-term turns to charity." Stocks may leave scraps, but futures will leave nothing.

4. Misunderstanding trading as a probabilistic game.
Futures’ core lies in losing small, winning big, and improving win rates.

No one (including Rogers) wins every trade. The key: Scale winners, cut losers fast. Some believe pros never err, yet my 60–70% win rate sustains profitability.

Final note: Never judge markets by 1–2 days’ moves.
Some stay silent during adverse moves but crow after favorable blips. Major trends often see sharp reversals—trade the primary trend, use pullbacks for entries, and retain the strategic edge.