Missed opportunities aren't always a failure. The important part is understanding why you missed the opportunity, what circumstances allowed for it to pay off,

Missed opportunities aren't always a failure. The important part is understanding why you missed the opportunity, what circumstances allowed for it to pay off, and what risks were overcome and how. Just because a bet wins big, does not always mean it was a good bet. When you have little money, that can be relatively easily to replace, capital preservation is not a big concern. Once you have hit one or two big ones, the game changes. You better have a good idea what the risks and rewards are before putting your money down. All the missed opportunities suddenly become the foundation for your ability to be successful at inherently risky endeavors. If you learned from them, they may have saved you a lot of grief experiencing a full wipe-out. I value my missed opportunities quite a bit, and have learned more from them than actual straight-up failures. The successes I have learned from even more, though.