The Best Loser Wins

Big ideas from the book by high-stakes trader Tom Hougaard

Nobody likes to fail, but failure is inevitable.

Especially when you are trying something bigger, punching above your weight.

Today, sharing with you big ideas from the book ‘Best Loser Wins’ by high-stakes trader Tom Hougaard. While the book largely is around how to win big in trading, but as with most things in life and trading, pretty much all the advice can be applied to our lives. Largely, the book is about psychology of trading and that’s where it is interesting enough to be shared with you.

How you feel about failure will to a very large degree, define your growth and your life trajectory, in virtually every aspect of your life: Tom Hougaard

Sharing big ideas from the book (interpreted for non-traders like me).

The Power of Action

What truly defines your growth as a person is not the information you possess, but rather how you use it in real life.

When you make mistakes, take responsibility for them and learn from them.

Handling Emotions

Stay calm for peak performance

Losing and failing might be a blow to the ego, but it can also be rocket fuel for growth.

Letting emotions control your actions can be disastrous. Learn to manage your feelings and stay rational, especially in stressful situations. This is crucial for making clear decisions in any aspect of life.

I don't really want to feel anything - if I get overly happy about a win, tend to get overly sad about a loss. I don't want that.

Process Orientation

Shift your focus to being process orientated.