People seem shocked that I would

dwell on the negative trades, like

Continental Airlines

(CAL) - Get Report

, but it just doesn't make you any money to review your winners.

If you do your homework and pick your spots, you should make money. It's the loss of money that is the big variable. I spend a massive amount of time reviewing my bad trades. I spend no time reviewing my good ones.

If you want to be a good trader, I would emphasize that you must analyze every aspect of a bad trade: entry point, research, luck, bad group, top-of-the-range reach, victim of tout, takeover or too little work.

Over the weekend I went over every bad trade we did last week. I looked for patterns, things I did wrong. I need to improve every day and every week and every year if I am going to do this job.

I leave no time for the good trades. They teach me only that I didn't do anything wrong.

Random musings

: The

MicroStrategy

(MSTR) - Get Report

watch continues as all of the potential MicroStrategy suspects are getting pulled over and asked to stand in a lineup next to MicroStrategy. Looks like lots of guilty parties.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Continental Airlines. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.