- The markets?
- Other traders?
- Your broker?
- Your computer or software?
- Any other external factors?
I came across this quote today which is extremely relevant to trading: "Ninety-nine percent of failures come from people who have the habit of making excuses".
It is very easily to shift blame onto other people or factors for a traders' poor performance. Are any of the above options responsible if:
- You decide to either enter a position that does not meet your entry criteria?
- You decide to enter a position too large in relation to your equity?
- You decide to exit a position when your exit criteria is not met?
Ultimately, until you take responsibility for your own actions in the market, and be able to accept whatever results you achieve, you will be destined to fail as a trader.