4 Reasons Not To Blame The Market

BlameAs a market trader, I go through various excitements every now and then. Oh… and I’m not talking about the market. Instead, I’m talking about traders in general.

You see, I used to get excited about the market. I used to watch every tick of the market hoping, wishing and praying that the market would move in my favour. Unfortunately, it took a few painstaking experiences to realise that it’s not going to work.

Thankfully, I moved on for the better. These days however, I still hear echoes of annoyances and frustrations, not from myself, but from a number of traders who are still trying to persuade the market to move in their direction and then blaming the market for all their losses when it doesn’t happen.

With that, I’m going to share with you some of the lessons I’ve learnt and to share with you some reasons why you should stop blaming the market for your failures.

1 You knew there was Market Risk from the Start

risk-analysisI would like you to invite you to take one step back and head back to the starting point of your career. When you first started trading, do you remember hearing, seeing and learning the fact that trading is a risky business? Do you remember your friends, your family or the internet warning you that trading the financial market involve financial risk?

I believe you did. Yet you chose to accept those risks and continued to pursue this career. You probably wanted to challenge yourself as you want to build passive income from this career. Or you might have chosen it for your ego, or your children, or even out of desperation. What ever reason it was, you knew the risk involved and you made a conscious decision to do it.

Now, fast forward back to the present and ask yourself – did you fully and whole heartedly accept the inherent risk from the market? If you did accept those risks, it should also mean that you have accepted the potential winners and loses when trading.

Do you see where I’m heading to? If you accept that the market is risky, then accept that you’ll have losses. If you accept that you will lose, then you’ll learn that there’s nothing (or no one) you can blame.

2 Only You Can Control Your Trades

Just to be very clear, the term be in control does not mean controlling the market. In fact, I have not met anyone who can control the market. From all the traders that I’ve spoken to and the books that I’ve read, all professional traders tell the same thing –

Take control of your trades and let the market do what it does best.”

Can you see the attitude that professional traders carry with them? Professional traders take control of what is within their control and focus on making those controls work. In actual fact, they even expect the market to be random. They put so much effort in making the trade perfect that it doesn’t bother them when the market doesn’t go their way.

Now, let’s come back to our world. If the professionals take full control of their trades, don’t you think you should be doing the same thing? If you know that you should be in control of your trades, then, can the market be at fault in any way? I hope the answer is no and I hope you realised that you are in control of your trades and not the market.

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3 The Market is Not Flexible, But You Are

In trading, and in anything in life, we need to be focus and committed to achieving excellence in what ever we do. However, you need to remember that there will always be more than one way to reach a destination. Yes, let me repeat, there will always be more than one way to achieving a goal.

Stay committed to your decisions but stay flexible in your approach.

If you believe what I say, and you should at least try to, then you’ll realise that the methodology that you’ve learnt about trading is the only thing you know at the moment. And, unfortunately for many, you don’t know what you don’t know.

To overcome that, you need to be hungry and curious about learning new markets and new trading systems all the time – continuous development. Nonetheless, you’ll also need to be discipline and structured about how you learn them. The last thing you want to do is to be jumping around trading everything that moves in the market place. Do you get my point?

Once you become a flexible trader, you can trade anything you want and make as much money (from the market) as you like. Right?

Now, the key question. If the market has no influence on you (as to how you make money), how can it have any influence on you now?

4 The Market Won’t Give you Money, You Need to Take from It

With all honestly, this is probably the most difficult and also the easiest point to make. You need to understand that the financial market is full of opportunities. However, the market will not just give you money freely because it is neither a charitable institution organisation nor is it Santa’s warehouse in Antarctica.

If you want to be profitable, you need to work on finding ways to take money from it – and blaming the market is not one of them.

Light bulbIf you have traded the market for awhile now, then ask yourself truthfully, what is the best way to take money from the market? The chances are that you have the answers deep inside you. Give yourself the space you need or even take a break from trading so that you can see clearer. If you are struggling and not sure about it, that probably means that you’re not ready for a live account, so get back into your demo account. However, once you find the answer, go test it out and start making money.

It’s as simple as that – you either know how to take money from that market or you don’t. Blaming the market will very likely hid this fact from you because you are always looking for faults and not really looking for the solution.

Conclusion

Trading the financial market is not as difficult as it seems. Many traders are actually really good at trading but they constantly focus their energy at the wrong place – including blaming the market. However, finding fault and excuses for any trading losses will only distract you from finding the solutions.

I hope you realised that the 4 reasons mentioned today are primarily about you. Very often, traders have the solution to fixing the problem. However, they need to put some effort to search those answer.

I hope today’s article make sense. Thank you for reading and have a good weekend!

 

 

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