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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. #21
    Trader lawners1791's Avatar
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    with the proper on basics on the technical with the preference; that good trader manages more on having with the different competence on complying of the good customs of the works.
    on managing of the risks on disrupting obstacles and more on gaining of the good returns with the compilations.
    that the good works on managing risks should had of the shifts on the good value as with the priors on finales on completing of the good profit with the exchange on orders.

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  3. #22
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    timing is very important. in every trading style you need timing. in perfect time enter the market and perfect timely you exit from the market. so for this you grow your skill and get very much trading knowledge so you take right time decision. and also we must not only keep on eye on our failure but also we polish more our winning or positive things.

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  4. #23
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    I think when you start the forex trading business then you keep in mind that forex is the high risk business and if you lost the money in the forex trading business then you will only responsible of the loss then you will not blame any one in the forex trading business.

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  5. #24
    Trader lawners1791's Avatar
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    uncertainty with the returns as appealing of the market scenes of the wide and non stop market to refer of the wise on chance on appropriating gently to qualify of the results of the work as with the more of loose with the relatives on differences to keep on still to focus with manage on sstaining of the linear constants with the chart lines of the portfolio of the return of the investment works with the fx business.

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  6. #25
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    Quote Originally Posted by lawners1791 View Post
    uncertainty with the returns as appealing of the market scenes of the wide and non stop market to refer of the wise on chance on appropriating gently to qualify of the results of the work as with the more of loose with the relatives on differences to keep on still to focus with manage on sstaining of the linear constants with the chart lines of the portfolio of the return of the investment works with the fx business.
    i think we should trade with complete responsibility.if you want to earn then must have a plan and do not blame any thing for loss in trading.
    If you have got a stop loss then continue without any sort of tension.
    If you have good trading strategies then you would surely earn profit in this field.not to blame your self or market for loss because it is not good for trader.earn according to your plans and trade with confidence.

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  7. #26
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    Quote Originally Posted by kamuru View Post
    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
    yes you can't blame any one because when you start the trading then you will must understand the structure of the market and i think if you understand the structure of the market well clearly know that the loss is the naturally in the trading and if you get loss then you not blame any one.

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  8. #27
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    Many traders think that if they are loosing money in forex then the main cause of it could be forex market its gamble or game for them I think its our own responsibility to do trade safely in the market if we will follow all forex trading rules then I don't think that forex will make anybody looser in forex so we can't blame anybody for our losses

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  9. #28
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    Quote Originally Posted by Khimi234 View Post
    Many traders think that if they are loosing money in forex then the main cause of it could be forex market its gamble or game for them I think its our own responsibility to do trade safely in the market if we will follow all forex trading rules then I don't think that forex will make anybody looser in forex so we can't blame anybody for our losses
    Gambling in this business is something that is very normal. But that is something we need to learn that gambling will only give us unstable result. it could be a great profit but it can become the worst nightmare as well. As long we have the knowledge in here, earning a large ammount of money won't be a dream anymore. But what is important will be how we decide to change in the end.

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  10. #29
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    Quote Originally Posted by Khimi234 View Post
    Many traders think that if they are loosing money in forex then the main cause of it could be forex market its gamble or game for them I think its our own responsibility to do trade safely in the market if we will follow all forex trading rules then I don't think that forex will make anybody looser in forex so we can't blame anybody for our losses
    [lang=id]Losing money in here just can't be helped at all. It is surely some point that all traders will experience anyway but it is something like a daily activity as for the gamblers. After all, if we keep trade high risk we will loss quite a lot. Many will just blame on random things to defend themselves at current condition.[/lang]

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  11. #30
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    Quote Originally Posted by hero View Post
    i think we should trade with complete responsibility.if you want to earn then must have a plan and do not blame any thing for loss in trading.
    If you have got a stop loss then continue without any sort of tension.
    If you have good trading strategies then you would surely earn profit in this field.not to blame your self or market for loss because it is not good for trader.earn according to your plans and trade with confidence.
    Well dear. there is many advice . anyway some time when we got stop loss then we fell very boring situation but I think we need to over come from that because some position can be loss !! and it is business ?? and we can not trade without loses and it is not possible but we can reduce the big loss when we apply a relabel money managing system.

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    Don't loss you hope.

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