Let’s face it, it’s easy to look for someone or something to blame when a trade goes south. We’ve all done it at some stage throughout our trading journey.
It was my Broker’s fault dahil nag lag. The executive lied. sabi ni A*$%#%, to the moon na! Elon tweet caused me to get stopped out. The markets are corrupt.
Laying blame elsewhere means you are not taking responsibility for your trading. You are disempowering yourself and admitting that you’re not in control. You have become a victim.
The Victim Mindset
Traders who are consistently struggling often have a victim mindset. They blame all their trade failures on external factors. Strangely enough, the more a victim is wronged, the more they try to justify their argument and harness support from others.
Giving up blame is key to becoming a successful trader. The quicker you can accept market behavior for what it is, the more grounded your decisions will be in the future.
Accountability
To do this you need to replace blame with personal responsibility. You’ve probably heard the saying ‘You can’t control everything that is going on around you. Yet you can control how you respond to it.’ Ultimately it’s your choice.
Relinquishing the need for control is very cleansing and freeing. Accept reality for all its uncertainties. Release the stranglehold of what you think your reality should look like.
Of course, we all want an endless run of winning trades. Yet we need to understand that this is not how trading works. In fact this is not how the world works.
There are no straight lines in life. There are no straight lines in nature. And there are certainly no straight lines in the markets.
So start managing the process. Don’t get tied down to preconceived outcomes.
If you find attitudes and feelings of blame creeping into your trading persona, turn it around quickly before you lose your mind.
Take control and change your mindset.
Changing your mindset needn’t take hours, days, or weeks. It can be done in an instant.
Start now.
