You can literally fail your way to success. Trust me, I’ve done it. However, it starts with being accountable for your actions & instead of blaming others. The sooner you can admit that YOU are the problem, the sooner your ego will be pushed aside allowing to you create solutions.
With the correct mindset, failing could be the best thing to ever happen to you. I know this sounds strange but perhaps you’ve been thinking about failure the wrong way. Instead of looking at failure as an end-all (I’ve fallen and I can’t get up), look at it as a new beginning.
The story goes that the inventor Thomas Edison made over 1,000 unsuccessful attempts at inventing the lightbulb. When asked how he felt about his repeated failures he responded by saying “I didn’t fail 1,000 times. The lightbulb was an invention with 1,000 steps.” Essentially what this means is that instead of getting down on himself and losing confidence after each unsuccessful attempt, he instead looked at each “failure” as an opportunity to learn, grow and progress him closer do his ultimate goal.
After years of struggling as an aspiring professional trader, I didn’t start seeing any progression until I also adopted this way of thinking. One winter after an intensive review of my statistics, I began to notice that what was holding me back wasn’t the market, my strategy or my broker, it was a handful of repeated mistakes both on the technical and psychological side. Once I was able to identify these mistakes I made it my mission to slowly eliminate them by creating a goal to not only make at least one less each month, but also to never make the exact same mistake twice.
When sharing my success story I always say that the only reason I became good was because I ran out of ways to be bad. Some would tell you that I need to give myself more credit, but honestly speaking I do. The credit that I give myself is for being smart enough to realize that I was the problem and instead of blaming others, take responsibility and more importantly take action by doing something about it.
For those of you who are ready to do the same, understand that the journey will certainly be humbling, but if you look at most super successful individuals two traits that they often share are that they are, and continue to be HUMBLE & HUNGRY.
For a more detailed look at my road to success check out this podcast episode sharing some of the most valuable lessons that I’ve learned throughout my first 12 years of trading.
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