'Confidence' is another quality that horses need to succeed in races. Losing several heartbreakers in a row or getting trounced several times in a row can damage a horse's confidence. It only takes a single win - even in a walkover - to restore a horse's confidence (they like getting the applause and going to the winner's circle).
Confidence is just one more thing that is factored into who wins the race, much like jockey, equipment, etc.
How to Regain Confidence?
A lot of people think you need to drop a stakes horse all the way into an allowance to guarantee a win. This is actually almost worse, unless you can really guarantee the victory. A stakes horse getting beat in an allowance only hurts their confidence more. Look for an easier stakes in a lighter racing circuit instead. A single win makes the horse fully confident again.
Confidence
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Confidence
"There's no secret to training a good horse. It's a matter of being fortunate enough to get one."
"Funny how you often regret the stuff you didn't do more than the stuff you did do" - GG
"Funny how you often regret the stuff you didn't do more than the stuff you did do" - GG