Resilience means bouncing back from defeat by asking what went wrong and how to adjust, not by blaming yourself or others. Separate luck from skill, recognize what you can't control, and evaluate whether your preparation was solid. That's how losses become your advantage.
Chapters
I think some people are more resilient than others. The people that are not resilient take the defeat and it's crushed. It's, oh, and they go into the spiral of I'm not good enough, self-flagellation. I should have done this. I'm not good. Or they go in victimhood. The world's against me. This doesn't happen to other people. When am I gonna get a break? But I think what makes the resilient person resilient is they don't get hung up on poor pitiful me, or I'm not good enough. They look at that and said, why did that happen? And then what adjustment can I make? And they're resilient because they want to bounce back. 'Cause that's what resilience is, a bounce back ability. But they're focusing on their ability to bounce back.
Also, I'll give you a trick to learn from your losses. When things go our way, we tend to think we're good. And in sports, the athlete doesn't really control everything about the performance. They don't control their opponent, the weather, the ref. In money management, we don't control what the markets are going to do. So did we win or lose because of luck or because of skill? And developing the ability to look back and say, okay, I just got unlucky. Or, okay, I could have prepared better. I didn't follow my process. Differentiating between the two is super important.
