Curtis Faith on Accountability

As mentioned yesterday in my post “Words to Profit By” (http://www.optionfanatic.com/2012/03/10/words-to-profit-by/), just because this may sound good does not make it relevant.  Give it some thought to see if it might apply to you:

“The idea that Rich had left out some key ideas was the easiest way for our paranoid Turtle to explain his inability to trade successfully during the program. This is a common problem in trading and in life. Many people blame their failure on others or on circumstances outside their control. They fail and then blame everyone but themselves. Inability to take responsibility for one’s own actions and their consequences is probably the single most significant factor leading to failure…

Trading is a good way to break that habit. In the end, it is only you and the markets. You cannot hide from the markets. If you trade well, over the long run you will see good results. If you trade poorly, over the long run you will lose money…

The bottom line is that you make the trades and you are responsible for the outcome. Don’t blame anyone else for giving you bad advice or withholding secrets from you. If you screw up and do something stupid, learn from that mistake, don’t pretend you didn’t make it. Then go figure out a way to avoid making that same mistake in the future…

Blaming others for your mistakes is a sure way to lose.”

–From Way of the Turtle (McGraw-Hill, 2007)