Whats up Lazytraders,
we as Entrepreneurs often get phrases from Motivational Speakers like to embrace and challenge failure. Yeah even fail as often as we can till we finally succeed. BUT there is something you have to consider. How much failing will help you to grow and which kind of failure will leave you miserable. How much failing is allowed in a perspective of thriving and growing?
What do you need to do first before even making a single mistake?
FAILURE LEADS TO MORE FAILURE
First of all we have to not be naive and think that we should fail as hard as we can because that destroys a lot of opportunity. A fail without a learning curve will leave you with nothing but fear, regret and a crushed ego.
If you take this into perspective then failure leads to more failure because if you fail hard you will fall hard and maybe you wont recover from that. Because there is no believe left in you anymore maybe just for a moment, maybe a week but it destroys you for a certain amount of time. I want to give you an example. Lets say you have 50.000 dollars life savings and decide to begin trading. Then you make a huge mistake and you lose 50.000 Dollars in a matter of weeks. That is a mistake yes, but its way too big. It can wipe you out and put your existence in danger. Do you really think you give yourself the right impulse if you make a mistake like that? You cant thrive in such an environment. Would you really consider trading again? I mean realistically and not hypothetically. What have you learned from that? You are left with a feeling that trading isnt worth doing because it can wipe you out in moment if you are not careful. There is huge risk and you should first learn to handle that and not later. You should learn as hard as possible and then after you have learned enough just start. But there is learning first you have to go through. A good mistake which you can learn from is for example a false stop loss. You can clearly see if you have set rules for yourself and didnt follow them. You clearly know that youve made a mistake and youre able to learn from that. Just do it right next time. It hurts but it doesnt put you in danger. You dont have to lose your whole account just to learn that there is risk in the markets. Just read about it. How do you know whats a mistake if you dont know where to look at?
If you dont learn first you wont learn anything in the process because you dont even know what it was that made you wrong.
That is why failure leads to more failure.
SUCCESS LEADS TO MORE SUCCESS
Secondly there is the psychology of winning. If you win it feels good it puts you in a position of aiming even higher! The moment you win you know that there is much more left in you to generate even more success. It gives you the right environment to thrive. You do something and youre successful at it and this will give you an incentive to do even more. You will find yourself happy and be more confident. Nothing can stop you now! You have a feeling of being invincible. And when a mistake happens you can recover quick because you know you had success before!
To do that however you must learn how to play the game. If you know how to play it right you will have instant success and you know what to do and what not to do. You most likely wont make mistakes that lead to complete failure because you learned first and know the parameters to success in the specific thing youre doing right now!
Thats why i dont recommend failing as hard as possible because there are a lot of people who walked your same road and they are the ones who can protect you from failing too hard.
CONCLUSION
DONT be stupid and believe the bullshit of constant loosing. You really just set yourself up for more failure. The only thing that happens is destroying a lot of opportunity. You will have less and less possibility of success. I know there are people that have had great losses over many decades and recovered from that. But dont you want to increase your chances of winning instead of destroying them?
Huge success after a existencial crisis is highly unlikely and will NOT happen in most cases. Most successful people dont follow this approach instead they learn the game and know in which position they have to put themselves to win!
So choose to be successful and dont belong to the losers. Always set yourself up for more wins and not failure. Dont forget under the aspect of failure why youre even doing it. You and I know that were all in here to win!
Lets help us all together to create a better future for us and the people we love.
I hope this helps you in your journey to success!
If you like it upvote, follow and maybe even resteem it so more people can read about this!
Have a great day guys!
- LAZYTRADES
