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失意泰然 is a very old Japanese proverb that suggests “keeping calm and collected at times of disappointment,” or “maintaining a serene state of mind when faced with adversity.”
It's hard to relate individual character meanings to the overall meaning unless you also understand Japanese grammar. The word order is very different than English. That being said, here's the character meaning breakdown:
失 To miss, lose or fail.
意 Feelings, thoughts, meaning.
泰 Safe, peaceful.
然 Like that, in that way, however, although.
Using these definitions in English, we might say, “Although you may fail or lose, have a feeling of peace and calm.”