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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. #11
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    Really a great definition of accountability that the answer + capacity and it opened my eyes to like here after the blame game be stopped and he will put a pause on the emotional trading for which we do make mistakes and blaming the market I will certainly go along with your recommendations.

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  3. #12
    Trader lawners1791's Avatar
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    responsibility to earns with the return of the continous arrange of the improvesment to have those with the higher scales of standard with the protosevere to lift with the shift to sustain the use with the good customs of enjoying perservence.

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  4. #13
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    Quote Originally Posted by ALGERIANO View Post
    Really a great definition of accountability that the answer + capacity and it opened my eyes to like here after the blame game be stopped and he will put a pause on the emotional trading for which we do make mistakes and blaming the market I will certainly go along with your recommendations.
    I think blaming the market when we are getting lost in the trade is a silly thing and it should not happen where we have to work hard in this trade is to trade with the use Its management risk and when the loss is not too great and we still could then handle our emotions in this business so that it will lead us to be better in the trade and this will make us would think to fix the error

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  5. #14
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    thank u for your nice post. It's helpful to think,remember,memories and apply in practical field.for action it would be highly appreciate.
    thank u again.

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  6. #15
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    Most of the people in trading take excuse for their loss by accusing the broker, bad time and so on. Whatever we do it is our own responsibility and hence for profit and loss we only are responsible and we cannot blame some one else.Also to be noted is the fact that, when we blame others for our failure, it is an indication that we are not ready for improvement and what all we are doing just passing on the bucks. The self awareness is the best practice to overcome this habit. Though it take time to achieve it, worth trying it.

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  7. #16
    Trader lawners1791's Avatar
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    response that is the finale returns with the complete legth axioms. that the options with the distinct manage with the manners left the shift of the use of the left with the offers to comply with the chains of complying prefers. to left the use with the different spends with the spares with the running perseverence.

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  8. #17
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    Very well said, most traders tend to look for one reason or the other to put the blame of there misfortunes and losses on,meanwhile forgetting that they were the one who made the decision that brought such result ,in other words I would say that the result you experience is a reflection of the actions and decision you made.
    so in other to get the best out of your actions make sure that you have a clear view of what you intend to achieve and how.

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  9. #18
    Trader taqiniazi's Avatar
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    I am a such a investor that does not act instantly the scenario demands activity in the marketplace because there are lot of deceiving causes in the marketplace and if care is not taken, one becomes vulnerable to being stuck and thereafter move the fault available on the industry. I adhere to my mind and I adhere to the industry actually I allow the industry to determine what it wants me to do and whatever occur thereafter I agree to complete responsibility

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  10. #19
    Trader Azis Muslim's Avatar
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    Haha first person to blame when I made wrong analysis is myself. I'm easily trust other people analysis, that's my problem though I have my own analysis and it is correct. Because you, Mr. Stan said it’s not a reliable indication of responsibility, I will stop blaming myself then. I will work and trust my own analysis and increase my self awareness. Thank you

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  11. #20
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    I think that blaming the Marketplace when we are lost in the trade is something stupid and he should not get where we have to work hard in this job is to trade with using Its may the management and the loss if n is not too much and we are still might then cope emotionally in this matter so that it drive us to be more in business and it will be give us would think correcting the mistake

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