Losing on a trade is not fun. Especially if it is a big loss. Winning is fun. I like to win. I can see why one might think that if they took a winning trade, especially on a big move, that they might be considered a mature trader.
But maturity is not measured by winning trades. Maturity is measured in how you handle loss. Anyone can celebrate a win, but how do you handle loss?
Have you ever sat down to consider loss? I don’t mean for 90 seconds. I mean, to sit down, and really think about what options are on the table, and carefully explore all available options so that you can then choose the best option moving forward? Or, like most people, do you get angry, gloss over it, and tell yourself in the span of 4 seconds, “I won’t make that mistake again”, and off the races looking for the next trade?
The 4 second consideration people will never grow. They can’t grow. They have not taken the time to contemplate and explore the options available to them after suffering such a loss.
Here are a few questions that one should ask when suffering a sizable loss:
- Does this loss determine who I am as a person?
- Was my loss due to a technical error, greed, or fear?
- If the loss was due to greed, why are you greedy? What in your life is lacking that you feel the need to embrace unwarranted risk?
- If the loss is due to fear, what kind of fear? Are you afraid of missing out? Are you afraid of taking risks? Do your present circumstances cause you to take unwarranted risks, (for example, I need to pay my rent)? Is it a combination of several fears?
The point I am making here is that you need to set aside time and contemplate.
Think through the why behind the loss. Don’t blame others. Nobody else took your trade. You did. Now, grow from it. But how?
You may need to repent of greed or fear, or perhaps something else. When you obey fear, it is because in your eyes, fear is bigger than your Heavenly Father. Ask the Holy Spirit to show you. He wants to.
After you have looked at the why behind your loss, are you then able to adjust your approach, your thinking, or your partnership, and grow.
