Some of your trades will BOMB. ⁠(Disclaimer – ALWAYS use a Stop Loss). You will grapple with a new method or technique you are trying to implement for MONTHS. 

And you’ll lie awake at night worrying about your trades and second guess yourself.

Ok, ok Safety in the Market… so what’s the good news?

It’s SOOOOO WORTH IT.⁠

Not being reliant on a job and boss is awesome. You can set your own hours. You can trade from anywhere! You aren’t location bound – all you need is a broker and an internet connection.  You can create financial independence for yourself.⁠

The more you work and perfect your trading skill set, the better your results will be. You can use money to create abundance for yourself and your family.⁠ You can be your own boss! ⁠

BUT Persistence is a Virtue when learning how to trade.

In the journey towards success, failure is not a roadblock; it is a vital stepping stone that propels traders forward. While the fear of failure can be paralysing, acknowledging it as a natural part of the learning process can be a game-changer in personal and professional growth.

1. Learning Through Experience:

Failure provides a unique classroom where valuable lessons are taught. Every misstep, setback, or disappointment carries within it an opportunity to learn, improve and tweak. It’s through these experiences that individuals gain insights into what works, what doesn’t, and how to navigate challenges more effectively in the future.

2. Resilience and Adaptability:

Failure builds resilience and fosters adaptability. When faced with setbacks, individuals learn to bounce back, gaining the strength to face new challenges. The ability to adapt and persevere through failures is a crucial skill in trading that not only aids in personal development but also forms the foundation of success in various aspects of life.

3. Innovation and Creativity:

Many breakthroughs and innovations have emerged from the ashes of failure. The iterative process of trying, failing, and refining ideas often leads to groundbreaking discoveries. Embracing failure encourages individuals to think outside the box, fostering creativity and innovation that might not have surfaced without the valuable input of setbacks.

4. Building Character and Humility:

Failure humbles individuals, reminding them of their humanity and fallibility. It builds character by teaching the importance of humility, patience, and the ability to handle success with grace. Those who have weathered failures are often more empathetic, understanding, and compassionate towards others facing challenges. It also gives you an added sense of respect for those who have gone before you  and made trading a full time career.

5. Redefining Success:

Success is a dynamic concept, and failure helps redefine its meaning. It shifts the focus from mere achievement to personal growth, resilience, and the journey itself. Individuals who embrace failure are more likely to set meaningful goals, driven by a passion for continuous improvement rather than a fear of falling short.

“If you get one percent better every day for a year, you’ll end up thirty-seven times better by the time you’re done. This is why small choices don’t make much of a difference at the time, but add up over the long-term.”

James Clear

6. Overcoming Fear and Building Confidence:

The fear of failure can be paralysing, preventing individuals from taking risks. However, confronting failure head-on diminishes this fear and builds confidence.

Here’s a great article by Sujan Patel – Former Contributor to Forbes Magazine that details 8 Successful Products That Only Exist Because of Failure. Some of them might surprise you!

Knowing that failure is not the end but a means to an end empowers individuals to step outside their comfort zones and pursue ambitious goals.

In conclusion, failure is not the antithesis of success but an integral part of the journey when learning to trade.

Embracing failure as a teacher and catalyst for growth transforms setbacks into opportunities. Those who understand this fundamental truth find themselves not hindered by failure but propelled forward, equipped with resilience, adaptability, and the wisdom gained from their unique experiences.

If you’re ready to propel your trading results forward in 2024, then our FREE Trading Plan Tune Up is a great place to start! 

Presented by Mat Barnes, the Lead Trainer here at Safety in the Market, who has over 20 years of experience trading financial markets, from stocks to indices and now specialises in the Forex and currency markets, tells us –

“I can honestly say the only reason that I am still here as a trader after more than 20 years is because I’ve had a trading plan. So, whether you’re an existing trader looking to add an extra edge to your current trading plan or whether you’re a brand-new trader who doesn’t have a plan yet, or if you’re like I was, if you’ve been trading for a couple of years and you haven’t bothered to put together a plan yet, you are in the right place.”

Having a solid, effective Trading Plan in place can be key to escalating your results – like many of our students have, even at the beginner level, and are now getting 10:1 Reward to Risk Ratio (or better!) on their trades.

 If you’d like your copy, you can request it below.