How Do You Handle Adversity?

It is said that adversity doesn't build character; it reveals it.When the sh*t hits the fan and everything is going against us, we learn a lot about ourselves.  

When power went down in our region and we were left without telephone, internet, or cable service, I wondered how I would work with traders.Everyone was working from home, which meant that my only ways of connecting with them had been taken away.A fleeting thought went through my mind that I could cancel all my meetings. As soon as the thought entered, I rejected it.  I was not going to give up. I drove my car to various towns in the area until I found a spot with a solid internet connection. I kept my phone charged with the car battery and downloaded an app that allowed me to do face-to-face meetings with minimal bandwidth demands. Instead of working from home, I discovered work-from-car!

Similarly, when everything went down in the recent storm, I received encouragement from Margie and together we figured out how to use a portable generator and connect it to major portions of our house. I have minimal mechanical skills--I actually tested as learning disabled with respect to performance tasks as a child--but I was not going to be a victim of the storm, and I was not going to let Margie down.  

In both cases, adversity brought out a latent strength, a quality I have, but do not always draw upon: persistence in the face of challenge. I refuse to let circumstances control me. That refusal gives energy and leads to creative solutions I would have not pursued otherwise.

Recently, I've noticed significant differences in how traders handle adversity, whether it's a losing trade, a missed opportunity, a drawdown, etc. The really good traders refuse to let the setback control them. They view and re-view their trading and they make sure they drill the learning lessons in their head.They miss an entry, but they don't give up on the idea.They don't simply place a revenge trade; they become even more focused as a result of the missed trade--and that allows them to find another way to participate.

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