Failure is what most people want to try and avoid. However, failing again and again can actually be what leads to success. When you are trading options, the reality is that you are going to fail from time to time. There will be trades that you will execute where you will lose money. You could decide to quit and never trade again, or you can take those failures and learn from them.
Inspiration from Michael Jordan
Michael Jordan once identified a lot of his statistics. He has missed more than 9000 shots, lost almost 300 games, and failed to take the game-winning shot over 20 times. This could be identified as failure for anyone, though most people will look at Michael Jordan and see someone who has been very successful in his career, not a failure. Essentially, it is because of the outlook that Michael Jordan has taken. He has learned over and over again in his life. It is this that he identifies as his reason for being successful.
Imagine if Jordan had given up basketball after he missed 1000 of those shots, or lost 100 of those games. He is seen as one of the best players to ever play the sport. He was identified as MVP on several occasions and was inducted into the Hall of Fame in 2009. He retired for a while to play other sports, including baseball and golf. He was then welcomed back into the NBA with open arms – and this is because of the skill that he brings to the court.
Jordan’s failure led to his success. But how could this be? Every time someone fails, there are two choices: Wallow in the failure or learn from the mistake that led to the failure. Jordan chose the latter, every single time. Each time, he learned more about his posture, the way he held the ball, the power he needed in order to shoot the ball, and so much more. He learned more about his team and how he needed to push them.
While it didn’t lead to a win every time, Jordan never stopped learning. He wanted to be the best basketball player that he could be. He had failures, and some of those were out of his control. But he also had success. The success was because of learning from failing over and over again and he accomplished what he set out to be – a great basketball player. Some would say he even surpassed his own expectations and became legendary.
The Benefits of Failing Again and Again
Failing may not sound too amazing, but it can be. It should be seen as a learning opportunity. This is not to say that you should go out and seek to fail on purpose. However, should you fail, it’s how you respond that is what’s going to make the biggest difference in your life.
There are plenty of benefits to failing.
You can take a look back and determine why it is that you fail. Consider how many athletes learn – they look at videos of their games and pick apart the different moves.
You learn to take constructive criticism better each time you fail
Moving past obstacles becomes easier when you have done it several times.
You learn to take a more optimistic approach at what you do, knowing that you use failure as a learning tool.
All of these benefits are things you need to remember, even if they are worked into a mantra. It is the people who fail and don’t understand the benefits of failure that will truly suffer – and success will be difficult for them to achieve, because they allow their faults and their failures to stand in the way of their potential and greatness.
You have greatness in you. Failure is a part of the journey to unlock the greatness and allow you to reach success. All throughout history, you can find stories of people who failed again and again before they reached their success – and you can turn to them for inspiration. Henry Ford and Milton Hershey started out as failures and their companies are still going strong now. The companies are what they are because of the failure that they once went through.
How to Benefit from Failing at Online Trading
Trading options involves determining direction of stocks, choosing options and investing money on each of the trades. Sometimes you will make a good trade and earn profit and sometimes it will be a bad trade and you will lose money. Options trading services can be used in order to provide guidance. They will show you trends, history, and predictions. Finding successful options trading services and following their guidance will make it easier for you to be successful throughout your trading career.
You will experience failure from time to time, and failing is okay. You need to remember this – there is nothing wrong with failure as long as you turn it into a learning moment.
Your failure may come from choosing some of the wrong options trading services, or from not listening to the advice that was given to you. Perhaps you will make a trade in haste without doing any kind of research because you wanted to go with your “gut.”
It’s not fun to lose money, but your reward will be when you learn and can apply that knowledge to make even more money. This is a sign of success. The successful people within options trading will be able to tell you all sorts of stories as to when they lost money and that learning moment that allowed them to turn it all around.
Your career will be filled with failure. You will fail again and again and that’s a good thing because it means that you will never stop learning. As long as you learn from every mistake, you’re in good shape. Your success depends on learning more and more about the market and the options trading services that are out there. Make the mistakes because it’s going to help you in the end!