99% of the time, I handle almost every setback large and small in stride and just keep moving. But I have had a few where I just couldn't do that, so the above method worked well for me. When you are younger a lot of setbacks look major, as you get older, you realize most setbacks aren't that bad and the ones that are affected a lot more than just you.
Losing a big opportunity to me sucks but it is just part of a journey, there are always more opportunities for people who don't stop. IMO people who get stuck and can't move forward get trapped in the past and not the future, this does no one any good. Recognize it, learn from it, and put your foot forward and move on. Nothing good comes from dwelling on the past, learning from it though is invaluable.