If you invest, then you must know the difference between winning, losing, and how one must accept the results. We so often get caught up in always trying to win, that we forget what it is like to lose. When one loss comes in a horrific fashion, and makes us sick to our stomachs most of the industry tends to let that one game dictate their approach to investing! The differences of winning and losing a game are so small, yet can be such a big distraction unless we learn how to accept our results.
LEARN HOW TO WIN
We all say we know how to win, but do we really? I have seen some people have win after win, and start to believe they are so hot with their picks they could not possibly lose. Then it happens. They lose that one game that they should not have even put money on. You see, a hundred dollar bettor might hit 10 games in a row and be up one thousand dollars. He begins to think he is on a great roll (rightfully so) but that doesn’t mean he should not plan to lose. What inevitably happens is that once he hits 10 games straight, and is up a thousand dollars, he decides to up his bet to say $500, loses, and I can promise you without the right mindset he will lose the other $500, along with possibly more of his own money. Why is this you ask? It has nothing to do with your picks and everything to do with your mindset. This is where most people fail in sports investing and this is why we only have a select few investing in this industry!
When it comes to losing, obviously it is not something that feels good in any circumstance, unfortunately this is part of the game. We must learn how to lose, and how to accept it before we can truly be a professional sports investor. Have you ever heard someone tell you that you must fail before you succeed? Well, that is one of the most important statements that one can share and it applies in our everyday life and also sports investing.
Think about this: the games that we seem to remember are either good winners with that unbelievable ending, or the one that lost, and how it lost. The one we tend to think only happens to us; Or when we did not even play, but we remember we would have won 20 without counting the other games that lost because our mind chose not to remember the losers. This happens all the time and to everyone so don’t think you are alone in this. You must have a strong mindset to overcome this in order to be successful when investing. When we lose, we quickly think of all of the bad things that took place. Suddenly, we have a dark cloud over us trying to figure out how to win our money back. If it was a lot of money, we soon start sweating it out, our stomach gets that familiar ache. Ever been there? I know we all have. The only way to overcome this: You MUST treat every game as one in the same. Never allow yourself to get too high or low on an outcome, and NEVER invest outside your financial means in an attempt to win again, or to right a loss!
Learning how to win and lose always gets taken too lightly on the road to becoming a successful investor. Most people fail at this because they are not equipped with the right mindset when investing. Whether you win or lose, you have to go on to the next game like clock work. You should not let the outcome of any game determine your mindset when investing. Win with the best of them, but also learn to accept losing as part of the process. The outcome of your pick should never determine how you approach the next game! It should not determine the amount you put on the next game, or even how you pick it. That is where we go wrong and that is why Vegas laughs all the way to the bank. Retrain your brain to learn how to fail and accept losing. I say that bluntly in an effort to help you understand that although this seems simplistic it is a key turn that people miss on the road to successful investment. Once you have mastered the art of losing, you will steadily trend toward becoming a successful investor.