If we speak about recognizing weaknesses, then I should say that this thing shouldn't be related only to trading activity. You have to understand that this thing should be related by other activities and actually your life. When you recognize your weaknesses, mistakes or stuff like that you become emotionally stable and you develop your emotional intelligence. The more you will weigh all the pros and cons about yourself, the more intelectual you will be. Of course, it sound kinda weird, however it's really like that. According to trading activity, I have to admit that it's very important for trading, because it helps you to develop your trading skills.