Blaming others for your stock market mistakes doesn't help anyone. The only way to grow is by learning from your mistakes and the first step to doing that is admitting you make them.
Many people will lose money in the stock market and go on a blaming streak. They blame the market for being volatile, they blame the government for raising or lowering interest rates, or they even blame their friends for giving them hot stock tips.
For the amateur trader nothing is ever their fault. Something outside of his control made him lose money on his last trade. If they buy a stock and the market crashes it isn’t their fault. After all he did what he believed was the right thing to do.
The professional trader thinks a little different. Everything that goes wrong is his fault. If he places a trade and loses money he takes the blame and looks to see what HE did wrong. They should have been prepared just in case the market crashes.
Funny how that works, trading armatures never make mistakes but professionals (the ones making money in the market) make mistakes all the time. At least that is how they perceive it. The Real benefit of accepting loss as a bad decision is it leads to growth.
When you blame others you assume that it was not your fault, so you do not need to improve on anything. When you take responsibility for your losses you tend to want to fix the mistakes you have made. You want to look back and see what you did wrong so that you will not make the same mistakes in the future.
The first question someone who lost money should ask is. Did I follow my rules? If not how can I make it so I follow my rules more closely in the future? Maybe you have to become stricter when following your investment plan. If you were following your rules and you still lost money then you should look at your rules.
What is the weakness of your trading strategy? (Every strategy has one). How can you improve it, how can you make it so you don’t lose money again in the future? Accepting the blame and attempting to fix the problem when something bad happens is the only way to enjoy long lasting success as a trader.
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