Last updated on November 9th, 2021
While nobody enjoys losing any of their bets, which they will have often invested so much time and effort into researching, how you deal with such setbacks is an important factor towards your growth and success.
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To start with, trying to remain as calm and composed as possible in the immediate aftermath of losing is something you’ll want to try to do, for this should help you avoid poor decisions like chasing your losses. Instead, taking some time to digest your losses will lead you to approach losses in a more coherent fashion so you can learn something from it.
Courtesy of Towards Data Science
As opposed to chase betting, doing the opposite of this by taking a break is a much better idea following a loss so you can process and accept the situation and also recharge your batteries so you’re ready to go again.
Courtesy of Spring Insights
Although it seems silly, there can be some upside attached to losses, as they offer you the chance to reflect and analyse where you went wrong and if there’s any adjustments you could make to your strategy.
Courtesy of Swing Trading
You may also want to reduce your stakes once you’ve taken some time to recalibrate your approach so if a losing streak continues your bankroll won’t suffer as much.
All in all, dealing with failure is something that’s best confronted with a clear, considered and concise approach to avoid any potential, bankroll destroying disasters.