“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
This is one of the best sentences I have heard in the financial markets. Let me put it this way, most of those who failed in these markets were those who actually failed in their minds, not in their analysis! The human mind instinctively loves success and hates failure. Unfortunately, we see in the financial markets that the majority think taking profit is success and losing money is failure. You feel victorious when your trade is profitable and you feel a loss when you make even a small loss. (This is common in inexperienced people.) Your mind is subconsciously patient in the hope of reversing the trend and leaving the trade, and conversely in profit it may exit the trade with a small profit. Now is the time to change our minds, because trading requires a strong mind in the first place. You need to change your mental beliefs about failure and success in order to be successful in these markets. If you think that losing is part of the game, you will never feel defeated by the logical loss that has occurred based on your own strategy. Basically, trading means profit and loss together, so this is the main rule of the game. The day we accepted profit and loss is the mainstay of financial markets, and we did not get stuck in big losses to avoid feeling defeated, we moved towards becoming a successful trader.
― Robert T. Kiyosaki, Rich Dad, Poor Dad
This is one of the best sentences I have heard in the financial markets. Let me put it this way, most of those who failed in these markets were those who actually failed in their minds, not in their analysis! The human mind instinctively loves success and hates failure. Unfortunately, we see in the financial markets that the majority think taking profit is success and losing money is failure. You feel victorious when your trade is profitable and you feel a loss when you make even a small loss. (This is common in inexperienced people.) Your mind is subconsciously patient in the hope of reversing the trend and leaving the trade, and conversely in profit it may exit the trade with a small profit. Now is the time to change our minds, because trading requires a strong mind in the first place. You need to change your mental beliefs about failure and success in order to be successful in these markets. If you think that losing is part of the game, you will never feel defeated by the logical loss that has occurred based on your own strategy. Basically, trading means profit and loss together, so this is the main rule of the game. The day we accepted profit and loss is the mainstay of financial markets, and we did not get stuck in big losses to avoid feeling defeated, we moved towards becoming a successful trader.