I struggle to cope with drama queens. You know the types – they always have something that’s going wrong, someone that’s making their life a misery or some kind of outrageous situation that’s causing them untold anxiety, the like of which I’ve clearly never experienced. They have the uncanny ability to grab any given minor misdemeanor and whip it up into such a hoopla you know you’ll be hearing about it for the next 4 months.
These types of people make me kinda crazy.
The funny thing is that while they genuinely feel that they have a valid reason to be stressed/upset/annoyed, in reality all they are doing is shifting the blame for their crappy lives onto random unlucky people or events without stopping to think that perhaps they themselves might have some small part to play.
Drama queens make terrible traders. In fact most people make naturally terrible traders (find out why here, here and here) but people with a penchant to blame all their problems on external stuff are the most doomed of all.
When we blame someone or something else for the crap in our lives, what we are actually doing is forfeiting any power that we may have to fix things because we’re basically saying that we’re not responsible and don’t have anything to do with it.
But we do. It’s easy to cram three donuts into our mouths at breakfast, then blame our ‘big bones’ or hereditary fat genes for our tree trunk thighs.
It’s easy to blame our financial advisor for losing our retirement funds whilst happily ignoring the fact that we were greedy enough and foolish enough to put all our savings into a scheme we didn’t understand.
Traders are quick to revel in the glory of a profitable trade, then turn around and blame external influences for their losses. This is a slippery slope, my friends, and the end result looks a lot like a failed, frustrated trader spouting rubbish like, “The market is rigged!” and “HFT have ruined the markets!”
If you want to trade, the responsibility is all yours. You can’t blame the market when it takes your cash – it’s YOU, and nothing else.
If you can’t accept your part in the circumstances of your life, you’ll never understand why you can’t make a go of trading. It’s not until you start looking at you, and the role you play in your results that you have any real chance at success.
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