Monday, September 26, 2011

The Daily Note - The Right to Fail, Part II, Cycles

It has taken me a week to reflect on what I wrote in Part I of this article about Reed Hastings and NFLX in "The Right to Fail". I knew I had more to discover on the subject and more to express and as I went on a hunt through my mind about how it is we so often refuse to admit to failure especially since, on reflection, once we admit it, success begins to immediately flourish.

Recognition of something that does not work frees one to see another way. It also seems that the quicker we recognize the fact, the faster we are on the way toward another victory. Yet we seem to hold onto the hope that what does not work will somehow change its mind and start working if we only hang on for another little while; never "giving up", we say, while we apply every fix in our arsenal. But what if I told you that during that seeming indecision and endless hope, wait and prayer, we are already actually moving toward our next victory. What if we see that taking the time to apply our wits to fix, we are really working on success and it's perhaps what assures us success.

We know that all success stories have more forgotten failure stories, never written, and nobody says they have their failures to thank for their success, but shouldn't we? Doesn't success and failure go hand in hand and shouldn't it be given equal importance and weight?

I'll never forget watching my son learning to walk and I never thought I'd use it in an article. I actually wrote my observations down in a journal. To me it's burned into memory that each "failure" was met with another try and each try was met with success and a failure; and so the circle continued. Never was the joy wiped off my son's face or babbling stopped and there was no cry, just determination. In other words, each cycle was the same. Success and failure were both learning experiences of equal weight, without judgement of one or the other.

Perhaps we all have something to learn from that memory of ours as I'm sure we all had the experience of learning to walk. We automatically learn and apply adjustment to the next step as we fail; it's built into us. We're born with it all: ability to adjust, analyze and apply at the same time. Perhaps we need to reflect on that, somewhere along the way, we let someone else judge our success, and perhaps it's time to release that which misguided us and experience once again the joy that the cycle of failure and success brings. As we accept this cycle, the spiral of success expands and we need less of one in order for the other to continue, but we never really let go of failure 100% even in walking. Think of it next time you stumble or trip.

This is the concept that I teach in my trading. To put equal weight on both. Not to admonish oneself for the lack rather than to learn and move forward into the next trade with equal enthusiasm for the possible success. Realizing that if you cannot accept your failed trades with equal gratitude as your winning ones, you will fail more often. So, keep trying baby, keep on trading with joy!

Happy Trading, Living and Walking
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