InvestorQ : Why is it so important to take accountability for your trading actions?
Abhi Yadav made post

Why is it so important to take accountability for your trading actions?

Answer
image
Abhi Yadav answered.
3 years ago
Follow

The legendary German reformer, Martin Luther, once said, “You are not only responsible for what you say, but for also what you don’t say”. That is the crux of the investment and trading game. You are accountable for what you do and for what you don’t do too. If you did not manage your risk properly, then you have only yourself to blame. You cannot be blaming the US Fed and the Monetary Policy Committee for that. You are accountable for what you visualize and what you fail to visualize. You are responsible for the outcome of factors that may or may not be within your control. Once you appreciate this harsh reality, being accountable becomes a lot simpler in the markets. Don’t forget that whatever the external factors, how your react to these factors is still in your hands. That is what matters.

As Jesse Livermore famously said, “In trading there is no long side and short side. There is only the right side and the wrong side” As an investor, you need to appreciate that the buck cannot stop everywhere and when you are the investor making the decision, the buck stops with you. You can prepare, visualize, affirm, assume, ratify and execute. That is where it stops.

1 Views