Overcoming Rejection
As a trader you are tasked at taking criticism as day long because trading is not perfect, its dynamic and adaptive, do not take it to heart if you are told your idea is dumb, take a step back and ask yourself. This stock is down 90% this year is it really a great buy? This stock just increased by 50% in a week, am I really not late to the buy?
Trading is not easy and anyone who says it is tends to be full of shit; you have to realize that 10 setbacks are the usually cost of admission for any major win. Most give up before breaking through most setbacks. The ones who are successful analyze every failure, and never wallow in them.
Don’t break stride and let one loss cost you your focus on the next race. Trust me the next stock does not care what you did in your last trade. Realize that no one person can please everybody, in the beginning you will probably hate most of mentors as they tell you how stupid your ideas are. Eventually as you read, and hopefully learn you will see why those ideas were stupid. If your blood is already pumping because we told you that you’re stupid twice, just quit now because Mr Market will chew you up in a week.
Don't rationalize the hurt by saying you didn't want to succeed that much anyways that's what losers do, and you are not one. Tally up what you’ve learned and how you will use it not to make those same mistakes again instead of worrying about how much you can make with your bankroll that will be inconsequential in a few years.
Embrace the setbacks and let them motivate you to try a fresh new approach that you have been scared to try. Don't assume you are branded as a failure because your first 20 ideas were trash and are walking around wearing a scarlet letter. Eventually you will find a winner and you will know you have when others are willing to get into the trade with you. Finally do not worry when you lose, worry when you stop being a contender.
Do you have balls?
In the Getting Started Group Chat explain a time when you had to overcome rejection and how it panned out (for the good or bad).
POST IN THE GETTING STARTED CHAT