Jim Cramer’s guide to investing: Don’t get hung up on what could have been

CNBC's Jim Cramer told investors not to get hung up over their mistakes and just move on when one of their stocks takes a turn for the worst.
"The stock market can be punishing enough — you don't need to make things harder by punishing yourself," he said. "Don't play the 'if only' game."

CNBC's Jim Cramer spent a lot of time at his hedge fund kicking himself when he made a mistake or a wrong stock call. But he's since learned that such a punitive attitude doesn't get investors very far.

Free 24/7 Connecticut news stream: Watch NBC CT wherever you are

"The stock market can be punishing enough — you don't need to make things harder by punishing yourself," he said. "Don't play the 'if only' game."

According to Cramer, managing emotions can be one of the hardest parts of owning stocks, as no one can or should be expected to always predict the future accurately.

Get top local stories in Connecticut delivered to you every morning. Sign up for NBC Connecticut's News Headlines newsletter.

He said he doesn't expect investors not to get upset when one of their stocks gets hammered. Instead, he advised they keep a cool head and not look back at their losses over and over again. Those kinds of hang-ups, he added, cloud investors' heads and can hinder future decision-making and success.

"If you need help curbing this kind of destructive thinking, go to that extreme. Take the stocks off your monitor or your portfolio watch," Cramer said. "You'll be surprised how much better your decision-making becomes when you stop the woulda, shoulda, coulda — it will not help you make money."