India’s space mission reached another height on July 22, 2019, Monday as the lunar exploration spacecraft made its way to the Moon for a soft landing, making India the fourth country to achieve this feat after USSR, USA and China.
The planning for this ambitious mission had been initiated in 2007, and only after a collaborative effort of Indian Space Research organization (ISRO) and Russian Federal Space Agency (Roscosmos), this project was successfully launched from ISRO’s Satish Dhawan Space Center in Sriharikota, Andhar Pradesh.
The spacecraft’s take off was earlier scheduled on July 14. However, due to a technical glitch noticed 56 minutes before its take off, the mission was called off and cancelled. The team then worked on its glitch within a week, and the mission successfully took off on July 22, 2019, the date coinciding closely with the golden jubilee of the first man setting foot on the moon.
The journey of Chandrayaan-II has a lot to teach us from its inception as an idea to its take off into the space. Here are a couple of them and how the relate to trading:
1. Planning The Goals Well In Advance
The teams at ISRO and Roscosmos had planned the mission in 2007 and had conceptualized it with certainty, keeping all the factors in mind, and the advancement of technology which could be incorporated in the mission. The Chandrayaan-II has a rover which is essentially a robot which would conduct tests on the surface of the moon and send signals back to the earth. Executing a project of this magnitude requires precision in planning with pre-planned protocols to ensure nothing is missed out.
2. Being Patient
Along its journey, the Chandrayaan not only faced delay while getting launched, but also had to face glitches in 2013 when the lander had not been prepared by Roscosmos. While it delayed the operation by a couple of years, it was necessary for the scientists at ISRO to remain patient and keep moving ahead with the objective in mind, just like in trading, where one cannot expect his investment to give massive returns immediately.
3. Taking Setbacks Positively
The last-minute technical glitches in the launch of the mission did not dampen the spirit of the scientists as they corrected the mistakes and went ahead will the same conviction as before. Similarly, in stock markets, one must not let losses dampen his/her spirit and must always take set backs in a stride to keep moving towards the goal.
4. Being Dedicated And Perseverant
The team and the organization at no point lost focus of the goal decided on – to search for water on the moon. Similarly, when working towards and planning our financial goals, we must never lose sight of our ultimate aim and the sense of purpose in our actions
5. Working with Data-Points:
In a project like Chandrayaan-II, there is absolutely no scope for assumption. Every decision needs to be supported by data points and thorough research to ensure success. This is similar to the way modern traders use technology and research-based data to make better trading decisions.
ISRO collaborate with Roscosmos to execute the mission by delegating the production of the lander to the Russian space organization. No man is an island and hence collaborating with another individual can always help in achieving our set goals and targets.
These lessons can help one not only in achieving success in life, but also in financial markets, where risks and ups and downs are a trend and the need is to be patient and neutral to wins and losses. With Chandrayaan-II, we are eager to see the mission’s success and the way it helps in the further research and analysis.