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  1. #1
    Senior Member analyst75's Avatar

    The Markets Arenít to Blame !!!

    ďIn tutoring others, I realized that most of the people attempting to trade had no idea what the markets were about, and no idea of what they were doing.Ē Ė Joe Ross

    Helping People Is Almost Impossible
    Many people disturb trading pros, begging for help in their trading. They want to learn good trading approaches or principles, which can turn things around for them. Youíll feel their plausible sincerity when they desperate call pros for help. But when the pros offer to help them, giving them useful tips and strategies, youíll discover that they donít follow the pros advice.

    A Latin American guy was disturbing a pro for a long time (who happened to be his acquaintance), asking for assistance. Later the pro arranged how theyíd meet and showed him everything as he himself was doing it, including MM recommendations. To his surprise, the pro later found out that the way the guy traded afterwards was quite contrary to the advice he was given. It was a pure suicide trading. Needless to say, the guy crashed his account and quit trading finally.

    In an African country, a newbie travelled to take instruction on how to use a proís strategy after hearing that the pro was making money with the strategy. The pro was kind enough to explain everything to him free, but he advised him to first try it on demo to see whether the strategy fit his psychology. On the contrary, the newbie applied the strategy to his live account directly.

    In one Asian country, a certain young man whoíd been struggling with the market for years later came across a winning trader who offered to help him for free. The winning trader showed him the strategy he was using, plus how to control risk with it. A few weeks later, the winning trader found out that the young man was using too high lot sizes and no stops; contrary to the advice he was given. The winning trader called him on phone, warning him against his dangerous trading style, but the young man refused to change. Heíd been lucky so farÖ Nonetheless, heíd soon be found out in crazy market conditions.

    A European bought a positive expectancy strategy but failed to use it as recommended. Someone from North America paid a huge amount to a trading coach, but later he did things that were contrary to what the coach taught him.

    In Oceania, a lady was coached via the Internet, but later she simply traded in a manner that was quite contrary to how she was coached.

    When people know theyíll still do what theyíll do, why do they seek help in the first place? The answer is simple. Majority of struggling traders are difficult to help.

    So let people trade according to their beliefs and psychology and face the positive (or negative) results of their actions, taking responsibility for that. But the truth remains that the market canít be blamed. Blaming the market is like running after the wind, for itíll do what itíll do. The market behaves according to its nature without having you in mind.

    In spite of this, you can still achieve success in the markets if you really want it.

    Why People Discourage Others from Trading
    When people tell you that you canít do something, what theyíre really telling you is that they think you canít do it because they canít do it. People arenít going to do something, and theyíd like to tell you the reasons you shouldnít do it either.

    If I was hopeless at math, does that mean others canít master it? If someone fails at programming, does it mean others canít do it? If you failed at any challenging endeavor, does that mean others will fail if they try the same thing?

    I remember a tale from ďBaro-sanĒ (of Elitetrader):

    Driven by hunger, a fox tried to reach some grapes hanging high on the vine but was unable to, although he leaped with all his strength. As he went away, the fox remarked 'Oh, you aren't even ripe yet! I don't need any sour grapes.' People who speak disparagingly of things that they cannot attain would do well to apply this story to themselves.

    Those who lose with fundamental analysis say itís worthless. Those who fail with technical analysis declare it sucks. They canít do it, and they think nobody can do it. Since I canít pass an exam so that exam is useless. I find multilevel marketing difficult, and so, itís impossible to excel at it. I canít make money from Forex Ė therefore Forex doesnít work.

    When people fail at something, they develop hatred for it. They look at their screen and say, ďthis game is a waste of time.Ē They canít stand playing games for profits in an uncertain world; and as a result, they canít put in the necessary effort, doggedness and resources into achieving trading mastery. This is one of the reasons why trading canít work for so many people.

    Stop Blaming the Markets
    The world is rife with people who often blame others for their woes (though some have genuine reasons for doing this). The same thing happens in trading; too many traders blame the markets for adverse circumstances they face, rather than accepting responsibility for their poor results.

    When a novice makes money in the early days of their trading career, they childishly think the markets are easy to conquer. Itís the nature of the market to trend up, trend down and consolidate, doing this slowly or fast and furiously. Itís the nature of the market to be choppy, to zigzag or to experience fakeouts. Itís the nature of the market to pretend as though itís going up or down or consolidating Ė only to do the opposite. Thatís the nature of the market in the past and thatís how itíll be forever.

    The markets arenít to blame. Despite these acts of the markets, many traders have devised ways to pull consistence profits on monthly, quarterly or annual basis. Those who blame the market for their woes would hardly make any progress, but those who take responsibility for whatever happens to them would see themselves as the only solution to their trading problems and take steps to solve the problem.

    The true test of someone's character isn't how they handle success. It's how they cope with setbacks. When a trade goes against a good trader, she/he shrugs it off and moves to the next trade. Also, when a trade moves in favor of a good trader she/he shrugs it off and moves to the next trade.

    This piece is ended with the quote below:

    ďIn the end, you simply have to learn one thing: You cannot force the market, you can only take what it offers.Ē Todd Gordon

  2. Thanks Ronnel thanked this post
  3. #2
    Veteran Member Dan21's Avatar
    Yeah well, trading psychology is very hard to master. I believe a lot of people really listen to what you tell them to do, but when they are sitting infront of the screen the little trading madness blurries their minds and the temptation to risk more is to big to supress. This feeling goes away with experience if you don't quit earlier.

  4. Thanks analyst75 thanked this post
  5. #3
    Moderator Kolyo's Avatar
    It depends on the people and how much they want to become good. Some things you need to realize from your own experience and it doesn't help hearing them from another person (even a pro trader). There are a lot of forum members who came here to learn, went through the School and the advises of others and actually improved a lot. Others slide on the surface of things and naturally they fail. It's not that much about being stupid or "difficult to be helped", but about the time and effort you're willing to give in order to become profitable. It is kind of obvious that people who seek this kind of proffesional help don't want to learn and improve - they want a ready to go receipe for ITMs.This is not the way to go. If trading was this easy to master that you can make it in a few hours or days by talking with a good trader, this forum would not exist.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. Thanks analyst75, VTaylor thanked this post
  7. #4
    Legendry Member willyw's Avatar
    Quote Originally Posted by Kolyo View Post
    It depends on the people and how much they want to become good. Some things you need to realize from your own experience and it doesn't help hearing them from another person (even a pro trader). There are a lot of forum members who came here to learn, went through the School and the advises of others and actually improved a lot. Others slide on the surface of things and naturally they fail. It's not that much about being stupid or "difficult to be helped", but about the time and effort you're willing to give in order to become profitable. It is kind of obvious that people who seek this kind of proffesional help don't want to learn and improve - they want a ready to go receipe for ITMs.This is not the way to go. If trading was this easy to master that you can make it in a few hours or days by talking with a good trader, this forum would not exist.
    Kolyo, is obsultely correct. Trading is not easy; ie to be profitable. Is best to learn and level ourself up to improve more. There is endless to learning. I am still a student learning, lol

  8. Thanks analyst75 thanked this post
  9. #5
    Rookie Member
    Quote Originally Posted by Kolyo View Post
    It depends on the people and how much they want to become good. Some things you need to realize from your own experience and it doesn't help hearing them from another person (even a pro trader). There are a lot of forum members who came here to learn, went through the School and the advises of others and actually improved a lot. Others slide on the surface of things and naturally they fail. It's not that much about being stupid or "difficult to be helped", but about the time and effort you're willing to give in order to become profitable. It is kind of obvious that people who seek this kind of proffesional help don't want to learn and improve - they want a ready to go receipe for ITMs.This is not the way to go. If trading was this easy to master that you can make it in a few hours or days by talking with a good trader, this forum would not exist.
    You're right, we learn most from our own experience, no matter how many examples we have from the others.

  10. #6
    Legendry Member Michael Hodges's Avatar
    The real insight comes when our own experiences match up with what someone else has taught us so that we truly understand the concepts, not just the words of them.

  11. #7
    Rookie Member jazzpy11's Avatar
    Yes. This is really true. When i started trading and winning in my first trades i thoughy i could conquer the market. But i just lost my small account. And now i learned a lot. Im newbie and still learning. Thanks for this post.

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