The Winning Trader & the Blaming Trader

In trading as in all other endeavors in life there are people who take full responsibility for their own results and the consequences of their own actions and there are others who blame everybody and everything else for the bad things in their life. There are the winners and then there are the whiners. Trading is no different, and many do the homework and put in the time to become winners and make money and others just become victims of the notorious “they”.

They are crooks.
They always give me a loss.
They have destroyed my Account.
They ran the stock against me when I was in the bathroom.
They gave me a bad tip.
They just used me for a pump and dump.
They are playing games with prices.
They were running a bear raid.
They always move the Market against my Trade.

The mark of a winning trader who is a real pro is that they take full responsibility for the results of every one of their trades early in their trading career.

I lost a lot of money because I traded a position way too large for my account size because I did not respect risk.
It is my fault I lost a large amount of money on this trade because I didn’t stick to proper risk management of 1% of total capital per trade.
I lost money because I simply have no idea what I am doing, I am just trading opinions.
I lost money entering and exiting this trade due to the bid/ask spread, I understand than market makers make money on the spread and it widens in low volume.
I know there are risks in trading, but I didn’t fully comprehend how quickly I could lose a lot of money with a bad trading plan.
I lost money due to market volatility but that is part of the game.
I had a bad month trading but I have no regrets I followed my proven plan and it just didn’t work out due to the market environment.

Who is accountable for your trades? The answer to this question is very important and predicts the outcome of your long term trading career most of the time.

The true mark of a whining trader who is never going to make it in this business is one who continually blames everything but his or herself for the outcome of a bad trade.

The winning trader is bigger than any string of trades and stands head and shoulders above the market and trades with poise and confidence regardless of the short term results. They win in the end.

Comments

Pre - Market Analysis (30th Jan 2022)

1. U.S Markets closed higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't

Pre - Market Analysis (13th October 2022)

U.S Markets closed mixed Yesterday. Dow futures are slightly higher right now Asian Markets are mixed. Indian Markets are highly volatile between 16750 to 17400. Within this range markets have been making wild swings. Yesterday Nifty did retest 16950 and bounced back sharply from there. Yesterday it was a sharp recovery and Nifty closed at the highest point of the day. Today we have weekly expiry. Generally weekly expirys are volatile. 16950 to 17200 is the range for expiry. In case if we break any of the levels then we might get a larger move during the day HDFC Bank will be delivering the results this weekend Banking stocks are expected to deliver good results Yesterday both the IIP and Inflation data came at negative. Inflation rose to 7.4% and Production also has recuced. So it's a double whammy on both fronts . Next leg of move will be decided by the results of the company's. Until then market is likely to stay sideways. Nifty might Trade between 16950 to 1

Pre - Market Analysis (3rd November 2022)

U.S Markets closed lower Yesterday. Right now Dow futures are higher. SGX Nifty is down 150 points. Asian markets are lower. Yesterday there was a Fed event in U.S Markets. General expectations were an increase of 75 basis points Exactly the same happened and at 11.30 markets recovered sharply from lows Then at 12 as Fed governer started speaking , it was a complete Hawkish statement. This induced lot of volatility and also selling pressure. U.S Markets closed at the low point of the day. Dow Jones fell 500 points. Although all this happened, U.S VIX didn't shot up It stayed flat. HDFC Bank ADR was down 2% yesterday. This could bring pressure in Bank Nifty. However I feel yesterday was an over reaction in U.S Markets. Markets should stabilize from today. 18000 is a strong support for the day. Previously as well many times Nifty went above 18k but couldn't sustain. Nifty might Trade between 17900 to 18150 today. stockmarketadvisory.in

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