The blame game
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Thread: The blame game

  1. #1
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    The blame game

    Each time we lose money, we tend to play the «blame game». Every trader knows it – you've given away some money back to the market and start blaming yourself – «how stupid could I be»? «Omg, how foolish this trade was» and et cetera.

    At the first sight, blaming yourself may look like you accept 100% responsibility for your losses, but in reality self-blame is counterproductive state of mind. You push yourself in distorted image of reality where everything was done wrong. It’s well known fact in psychology and coaching that if you try to overcome your weaknesses and have no strengths to rely on, you will not succeed. Energy to move forward, to change some unwilling behavior and get better results, will be produced as a result of relying on your strengths not overcoming your weaknesses.

    I can provide you small example: in your trading you have executed potentially good breakout trade, had good entry point, then your profit started to increase: +10… +15… +25 pips, but you’ve missed the time of news announcement and eventually you gave all the profit back to the market.
    How would you feel in this situation? Of course, it will be difficult to find positive features in this situation. But think about it – your trade location and timing was almost perfect, your analysis was also correct, but you failed in just one thing – in protecting your profits. That’s trading – overall profit will depend on every step executed in a right manner. For every trading style there are actions that may be more or less important – for example, for momentum trader it will be more important to take profits in timely manner than for trend-following trader or counter-trend trader.
    But if you start playing the «blame game», you won’t be able to learn important lesson from this situation and move forward. You will just focus on the fact your trade was not a winner (or a «loser» in case result was negative).
    The better thing is to focus your attention not only on things that were done wrong, but on things that were done right as well. I was writing about it in article «Appreciating the good» some time before.

    Also, «blame game» is dangerous thing because it can launch the «Stockholm syndrome». Some of you may heard about it. In a nutshell – it’s a psychological phenomenon when victimized people start to feel sympathy to aggressor, feeling that they must fall victims for the sake of some great goal.
    In trading it means that trader will produce harmful actions over and over again. Level of blame is so great that it is easier psychologically to start view situation in a distorted way. People lose responsibility for their actions – they look attentively to the face of aggressor (market), trying to understand – what he (market) will do in a very next minute?

    How do you think – why in the field of trading there are so many forecasts, so many opinions, everybody wants to know where the MARKET will go, but the very few people think of what THEY will do?

    Level of uncertainty and trauma is so great that traders are paralyzed. They would rather try to predict the price action than to develop their own responses. That’s why results are so frustrating for most traders.

    Be responsible for your trading and good luck!

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    Last edited by Value trader; 11-24-2014 at 07:14 PM.

  2. #2
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    Thank you Value Trader for throwing some light on the importance of realizing our potential and weakness. Indeed this was really an eye opener for me as i just last week busted my trading account of $500 which was developed from $100 and took two months to do this. But it was my mis management and greediness which lead to this disaster, sometimes trading life is so much up and down that we really need to rectify from our end.

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    Quote Originally Posted by Ashviniurs View Post
    Thank you Value Trader for throwing some light on the importance of realizing our potential and weakness. Indeed this was really an eye opener for me as i just last week busted my trading account of $500 which was developed from $100 and took two months to do this. But it was my mis management and greediness which lead to this disaster, sometimes trading life is so much up and down that we really need to rectify from our end.
    That is why forex is a high risk high profit business after all. We can make unlimited ammount of profit from here but we can loss it big as well. This will all depend on our own current ability to make the money and whether we have the nerve to make an entry in the forex market as well since that will bring a big change.

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    Quote Originally Posted by zuma View Post
    That will be why forex is often a high risk high profits business soon after all. we can produce unlimited amount involving earnings by here but my spouse and i may loss It big In the same way well. It will most depend on MY PERSONAL own current ability in order to make the dollars AS WELL AS whether we have your nerve for you to make a great access at the forex market Just like nicely because the that will bring the big change.
    [lang=id]Forex usually have high risk since we can easily make the money in here after all. Even when we can make high profit, so that simply means we need to take the risk in losing money as well so it is natural that we will be faced with loss in here. Due to the nature in this business we need to accept it.

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  5. #5
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    I think being a trader we never blame any one because when we start the trading the we are agree with the nature of the business because we know clearly that the forex trading is the high risky business and lost is the part of the business so we not blame any one if we lost in the trading.

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  6. #6
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    Quote Originally Posted by rai504 View Post
    I think being a trader we never blame any one because when we start the trading the we are agree with the nature of the business because we know clearly that the forex trading is the high risky business and lost is the part of the business so we not blame any one if we lost in the trading.
    Even so, there are many traders that still didn't know about this and they just put the blame in the traders that give them the wrong direction or even they just put the blame on the broker. At the worst possible thing, they just say that forex trading is just a gambling game which means this is only a game where luck matters the most.

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  7. #7
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    I think that forex is not a game. Therefore, we must be serious and concentrate on running the business in forex. Remember, you use real money. Where the money comes from your salary, business income, debt, and so on. Profit and loss was due to you. Never blame if forex losses.

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    there no one that you can blame while you forexing and that happends you have to make sure that your money management is spot one when trading you have to make sure that you want know what is the right amount that you can withdraw and the one that you supposed to reinvest to trading

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  9. #9
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    I think it is the reality of the forex trading business that loss is the part so if we have the loss in the trading then we can't blame any one and i think it is naturally but we learn form our mistake in the trading and not repeated the same mistake in the trading and try to overcome the problems in the trading.

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  10. #10
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    Quote Originally Posted by rai504 View Post
    I think it is the reality of the forex trading business that loss is the part so if we have the loss in the trading then we can't blame any one and i think it is naturally but we learn form our mistake in the trading and not repeated the same mistake in the trading and try to overcome the problems in the trading.
    [lang=id]Well, losing is surely a part of forex and then if we keep losing in here then we will naturally stressed out and become unable to think. This is precisely why the forex traders need to accept the loss when they are going to loss the money since unless we have the knowledge, we can't just make any good income.[/lang]

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