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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. #31
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    Quote Originally Posted by mohabbat View Post
    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.
    [lang=id]Stop loss will surely make us to loss the motivation and not only that, but we will feel less spirited in this business as well. If we lack the spirit to keep learning, we will not be able to improve at all. First time, some traders just need to learn the better about the forex amrket first and earn the first profit as their own motivation.[/lang]

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  3. #32
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    Quote Originally Posted by Vicko View Post
    [lang=id]Stop loss will surely make us to loss the motivation and not only that, but we will feel less spirited in this business as well. If we lack the spirit to keep learning, we will not be able to improve at all. First time, some traders just need to learn the better about the forex amrket first and earn the first profit as their own motivation.[/lang]
    Reducing the loss isn't all about stop loss as well. We can reduce the loss in here by gathering the needed knowledge too. When we think that someone is having a lot of losses in here, then we need to think what they need to do as the next step so they can earn the money. If we just keep dwelling in the loss, then we will never get any better as well.

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  4. #33
    Registered user Quid's Avatar
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    Quote Originally Posted by kamarul View Post
    Thank people signal Trader pertaining to throwing a few light on the importance involving realizing THE potential IN ADDITION TO weakness. Indeed this was this year an eye opener for me Just as we only last week busted THE trading accounts connected with $500 of which feel developed through $100 AND took 3 months to do this. But It are OUR mis management IN ADDITION TO greediness of which lead to be able to the disaster, sometimes trading life is usually and so much up ALONG WITH decrease The item when i truly need to be able to rectify through OUR end.
    Greed can not be allowed in forex trading,what the point we want from trading is not to make much profit,we make the plan for trading to limit the loss and increase the profit,in that context we don't point on the profit we only want to execute the plan well to trade profitably.

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    Finally successful traders

  5. #34
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    Quote Originally Posted by Quid View Post
    Greed can not be allowed in forex trading,what the point we want from trading is not to make much profit,we make the plan for trading to limit the loss and increase the profit,in that context we don't point on the profit we only want to execute the plan well to trade profitably.
    Most of the forex traders inspite of having very good knowledge regarding the forex market still fail to succeed in the forex trading business because they would lack the emotional balance and become greedy when they are trading in the highly risky forex market only to lose more and more money. Blame game is of no use for those who are determined to excel.

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  6. #35
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    I think the loss is naturally in the trading and if you get the loss then you can't give the blame any one and also it is not your mistake because the loss is the part of the trading but the need is that you learn form the mistake and not repeated the same mistake again and again.

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  7. #36
    Trader amjad23510's Avatar
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    It does not worth to blame market,signal provider or some other thing for loss.we have to learn from our loss.i faced loss many time and find it useful.i have learned from losses and now i can make more accurate trades.
    I think we should not forget our loss.just remember each and every reason and loss and i am sure that one day you will get up to 85% accuracy in your trades.

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  8. #37
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    the distinctives on choice with the decision on occupying of the good options with the strategics as the measures on appealing of the good deliverance as by the chance with the absence on commitments as the best on priors on projecting of the good goals on aggregetion.

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  9. #38
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    Quote Originally Posted by rai504 View Post
    I think the loss is naturally in the trading and if you get the loss then you can't give the blame any one and also it is not your mistake because the loss is the part of the trading but the need is that you learn form the mistake and not repeated the same mistake again and again.
    I agree with you that we have an error we can not change because of the error comes from us if it is wrong we need to fix it so that the error does not happen again I'm sure all of it can be completed with no problems. we have to consider is the financial arrangements and our mental

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  10. #39
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    I think i have made my trading experience pass that one. I do no take responsibility in my trading before, but as the time goes on, i realize the benefits of taking blame if i am faulty or let go when i lose in the market. The next solution is what i will be looking for so that the error will not repeat.

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  11. #40
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    Quote Originally Posted by silverlady View Post
    I think i have made my trading experience pass that one. I do no take responsibility in my trading before, but as the time goes on, i realize the benefits of taking blame if i am faulty or let go when i lose in the market. The next solution is what i will be looking for so that the error will not repeat.
    Blame game is of no use for the traders who are aspirant and are keen towards excelling in the forex market. Thus, traders should always make sure that they are responsible for their acts. And there is huge difference between being responsible and blaming which the traders should define for themselves.

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