great quote regarding taking a loss and carrying on | Forex Factory

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great quote regarding taking a loss and carrying on

  • #1
  • First Post: Aug 10, 2006 5:30am Aug 10, 2006 5:30am
keep the losses small and you can be a winner

"I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
Michael Jordan
  • #2
  • Aug 10, 2006 7:44am Aug 10, 2006 7:44am
Quoting dailydow
keep the losses small and you can be a winner

"I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
Michael Jordan
Wow...that's powerful!
  • #3
  • Aug 10, 2006 8:08am Aug 10, 2006 8:08am
Until you can understand and live with this concept;

Print it in a large Font and put it up on the wall in a conspicuous place.

  • #4
  • Aug 10, 2006 8:21am Aug 10, 2006 8:21am
yes bemac that is exactly what i thought when i read it big and very bold letters on the wall and now my signature before anyone else pinches it lol
  • #5
  • Aug 10, 2006 8:26am Aug 10, 2006 8:26am
"I can't" isn't a reason to give up, it's a reason to try harder
Try hard, think fast, die young
  • #6
  • Aug 10, 2006 8:28am Aug 10, 2006 8:28am
Quoting dailydow
yes bemac that is exactly what i thought when i read it big and very bold letters on the wall and now my signature before anyone else pinches it lol

Perfect DD. Now you have to post First Every Day for Every Time Zone so we can all read it before we "Get to Work @ The Business"

  • #7
  • Aug 10, 2006 12:23pm Aug 10, 2006 12:23pm
Just think of losses as false alarms on the way to that huge trade you're going to crush. That's the way that I've thought anyways from the beginning and I've never taken a loss hard at all.
  • #8
  • Aug 10, 2006 5:40pm Aug 10, 2006 5:40pm
psychology and $$ management.........2 main components of success in this gig!!


Great motivational post Daily Dow!!

Thanks,
Jim
  • #9
  • Aug 10, 2006 5:43pm Aug 10, 2006 5:43pm
Quoting learningtheropes
psychology and $$ management.........2 main components of success in this gig!!


Great motivational post Daily Dow!!

Thanks,
Jim
You just keep on learing there learningtheropes.
They are ALL main components of success in this gig!!
  • #10
  • Aug 10, 2006 5:45pm Aug 10, 2006 5:45pm
Quoting dailydow
keep the losses small and you can be a winner

"I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
Michael Jordan
I keep that quote as one of my favorites on my iHub username.

* I also agree with always taking that small loss, if you don't... within a day or two you will be calling to close your broker account.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #11
  • Aug 10, 2006 5:53pm Aug 10, 2006 5:53pm
Quoting Bemac
You just keep on learing there learningtheropes.
They are ALL main components of success in this gig!!
I hear ya cluckin' big chicken.........I probably meant it more like the old 1% and 99% inspiration / perspiration saying..........in other words those 2 components make up the 99% and your AWESOME strategy is 1%...........now that's a generality, so know one should feel inclined to argue the above percentages...any of us that has been burned in the past (I used to think I could trade without S/L's ) has either accepted this fact already, or is one or two touches away from the hot stove to finally get it!!
  • #12
  • Last Post: Sep 3, 2006 10:19pm Sep 3, 2006 10:19pm
I had never read that quote from MJ it is great.

I was lucky in life because somebody read "The Little Train that Coud" to me ,a lot. I don't even see that story lying around at doctors offices anymore for the kids to read while waiting.

But there are tons of great stories out there. Lincoln, Grant, Lee, Rocky Bleier ,Ruddy, We Where Soldiers(a movie about the first air cav.unit), I just watched another true story about a football player "Invinsable" very good.

Guess I don't have a point just wanted to chime in.
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