I had at least one person on my course who made it on the third attempt and last I heard they were doing very well (not based at the same unit as me these days).
I would suggest you consider your options, this didn't go as planned so what would you do if this doesn't happen? If you don't know maybe time to try to some other things in life and see. Then you can try again in the future if you still want it, or you can leave it. But that decision is not best made now just after failure I think, rather make it when it's time to reapply. Also then there is nothing stopping you giving it some more time before reapplying if you're not sure. Just don't build your life around reapplying because you are certain you will get in next time, there are no gaurantees in this unfortunately.