Wrong Verb Usage 

I lost the bus. X 

I missed the bus. V

I lost the bus, grammatically is not wrong. It is the usage that is wrong. If you have a toy bus in your pocket, then it is possible to lose it. 

Here the intended meaning is that you arrived too late and the bus had already gone. You didn’t manage to get on it. We use ‘miss’ when you arrive too late.

Look at the two sentences below. Both are correct but the meaning changes. 

I missed the football match. 

I lost the football match. 

In the first example, you arrived too late. 

In the second example, you were one of the players and you lost the game. That is, you did not win. 

The verb ‘miss’ has another meaning as well. You can miss a person. That is, when you feel the absence of that person. 

Example: 

I really missed you when I was on holiday. 

Did you miss me? (Did you feel my absence?)