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  1. #1
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    100% responsibility

    Hi there! If I was asked, what is «number 1» quality, that trader needs to develop, I would answer – ability to be responsible for your actions.

    What does it mean?

    Responsibility is often wrongly considered as ability to blame yourself. Blaming yourself may be more important than blaming others, but in my opinion it’s not a reliable indication of responsibility. It can be a «blame game» - «oh, why have I done it? What a fool I was» e t.c.
    In this «blame game» we tend to feel sorry for our actions but in many cases, it doesn’t help to improve our future performance.

    So, what is the definition of responsibility?

    I like definition that was made by my mentor in field of trading psychology, dr. Andrew Menaker – «Responsibility can be split into two words – response and ability». In other words, it’s ability to choose our response.
    It looks very easy, but it’s absolutely not easy in application to real life, and especially trading. Do you think about your future as a trader when you send a market order with extremely large size? I don’t think so, you are so absorbed by the price action that your response is driven by your emotions.

    I think that it should be #1 in the list of desired internal characteristics – ability to choose your responses. How to do that?

    Stop blaiming «them»

    I have seen too much times traders blaming «them» for their trading losses. Some call «them» market makers, some call them «smart money», big market manipulators e.t.c. Of course, you should make some studies about possible activities of institutional demand and supply, but they are not responsible for your possible losses. That’s the way they make money – and it can include stop-running, yes. They have to execute orders of large institutional players, it’s a business.

    Stop negative focusing

    I’ve been writing about it several times, for example in article «Negativity bias», our brain very easily concentrates on negative outcomes, so we should balance this feature. You may blame dinosaurs, our ancestors for this feature that were helpful in their life (freeze, escape, fight), our brain has evolved this way – we tend to focus on possible harm much easier than noticing good. Read my article «Appreciating the good»

    Work on self awareness

    To take 100% responsibility for our actions, we should be aware of unconscious forces that can grab our attention. It may be unconscious traumatic experiences, or hidden emotional triggers or both.
    Read this article to improve your self-awareness

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  2. #511
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    We should have plan and responsibility for our trades.it is the fact that we can not make good profit without plan.
    Learning and practice can give us success.if you have got a stop loss then you should behave normally.work with patience and you will surely make a good profit in this way.

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  3. #512
    Registered user Quid's Avatar
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    Quote Originally Posted by mak7 View Post
    A real good meaning connected with liability seeing that answer plus power there are started out the little brown eyes seeing that in this article as soon as the responsibility activity will likely be ended and it also will probably fit an opportunity with over emotional dealing which is most of us complete problems in addition to responsibility.
    You just stuck with the same wall you are facing the situation when you need nothing more to learn about the world is changing from the condition you could reject,responsibility is high appreciation which is not acceptable by you if you are not at all responsible.

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  4. #513
    Trader Gappiya's Avatar
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    When we have lift the trading account with our selves, we have to be so sure about what we are doing as a Forex trader. And because of that we have to be so sure about the decision we are going to make that. And all the trading decisions we are doing, we have a responsibility of how we are going along with this trading market as well.

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    Thumbs up Guys

  5. #514
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    [lang=id]i see, traders need to understand about the risk at this business, it means, the risk does not come from this business, but from themselves who manage the business, so good or bad for the results, all was caused by the traders itself and take them with responsibility, stop blamming the others is a good thing to make the traders grow up to be a mature trader[/lang]

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  6. #515
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    the responsibility is the best thing a trader should hold when he is in this forex market already to manage the profit and making the trades successfully. and as he is the incharge of the forex trading market he should make the proper practice to manage the skills improved and also make the proper potential to hit the market all the time with profit more often. thank you.

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  7. #516
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    Quote Originally Posted by samprazaan View Post
    [lang=id]i see, traders need to understand about the risk at this business, it means, the risk does not come from this business, but from themselves who manage the business, so good or bad for the results, all was caused by the traders itself and take them with responsibility, stop blamming the others is a good thing to make the traders grow up to be a mature trader[/lang]
    It is good to know that forex trading market is more of a risky trading environment, and the trader should try to manage his trading risk, not to be shifting blame in any way possible. It is a market that is very volatile too, so I believe that traders should build the trading system that will help all the time, the management of the trading matters so well too.

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  8. #517
    Trader taqiniazi's Avatar
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    Really an excellent meaning of responsibility that the response + potential and it started out my sight to like here after the fault activity be ceased and he will put a stop on the psychological dealing for which we do get some things wrong and accusing the industry I will certainly go along with your suggestions.

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  9. #518
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    Quote Originally Posted by Gappiya View Post
    When we have lift the trading account with our selves, we have to be so sure about what we are doing as a Forex trader. And because of that we have to be so sure about the decision we are going to make that. And all the trading decisions we are doing, we have a responsibility of how we are going along with this trading market as well.
    Yes,we are totally responsible for our trading.And we should do study and analysis before open every trade.By good analysis we can understand the right enter and exit time in market.Without any analysis open a trade bring massive loss.To calculate accurate enter and exit time is the matter of continue practice.

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  10. #519
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    Quote Originally Posted by Value trader View Post
    Stop blaiming «them»

    I have seen too much times traders blaming «them» for their trading losses. Some call «them» market makers, some call them «smart money», big market manipulators e.t.c. Of course, you should make some studies about possible activities of institutional demand and supply, but they are not responsible for your possible losses. That’s the way they make money – and it can include stop-running, yes. They have to execute orders of large institutional players, it’s a business.

    Stop negative focusing

    I’ve been writing about it several times, for example in article «Negativity bias», our brain very easily concentrates on negative outcomes, so we should balance this feature. You may blame dinosaurs, our ancestors for this feature that were helpful in their life (freeze, escape, fight), our brain has evolved this way – we tend to focus on possible harm much easier than noticing good. Read my article «Appreciating the good»

    Work on self awareness

    To take 100% responsibility for our actions, we should be aware of unconscious forces that can grab our attention. It may be unconscious traumatic experiences, or hidden emotional triggers or both.
    Read this article to improve your self-awareness
    I have done all this three wrong act to do. I blame my self when I get Margin Call Stop Out. To me with blame to myself, I can take a responsibility to my trading. But in fact, blaming self is not good for psychology. Second thing is negetive thinking. I negative thinking, when I get loss, I think I'm not suitable for trading forex.

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  11. #520
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    in the trade, profit and loss has become part, as traders should certainly receive a result of trade his between got a profit or loss, traders must be prepared receive the risk in any transactions in trade, then to be able to profit a trader must make strategy a nice and financial management of the right, analysis is in need in the trade

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