Trading Accountability

…you better add some on top of responsibility

Accountability - Overview, Key Roles, and Examples

Its worthwhile first and foremost to understand the difference between responsibility and accountability;

Responsibility is having the obligation to complete a task or oversee the output of that you are directly in charge of.

Accountability is the acceptance, good or bad, of your personal actions that contributed to attaining or failing to meet an intended goal.

If you are going to be a trader for a living you sure better have both of the above accompanied with the desire to make money and have the life you want to have.

In life we do not move without a desire. So when starting to trade we certainly want to make money, and definitely enough to support the kind of life we want.

Having said that you have to understand, the more you go after the less you are going to have time to play! So work hard play harder is not going to work but work smart and have time for fun will!

In order to build a good trader’s life for yourself you are going to have to have the responsibility to build yourself and that means you have to put together a personal approach to your trading that defines you!

It must compose of a good strategy, good money management and trader discipline. Without these three together you are not going to make it.

Can anyone trade with these three qualities! Yes, if you are persistent and learn from mistakes. This brings us to the topic of accountability!

First of all know and understand that building your way of trading from the tools you learned is going to take a bit of time depending on how much time you put in to it. When I first started trading I recall closing myself up for six months just to put together everything I learnt and understood in to a consistent sequence! You might be smarter, sharper I don’t know, but you are going to have to give yourself the time to get this done so that you build an approach to the market which is consistent!

This consistency is implying your technical analysis and money management and the trader discipline to trade the plan and not to do silly and crazy stuff every time the market starts to go up and down.

When you have established the above you need to understand that you can not win them all! And accountability comes to play here!

This is an understanding and an acceptance that you will have a bad day every now and then AND you need to realize that you need to get back to the discipline and the proper way of evaluating the market and continue applying what you know that works well as per your testing!

When the market gives you a losses your losses should not be more than your wins obviously! This is pursuant to the strategy you are using and applying consistently.

Financial astrology can give you a great edge in making your trades successful, beyond 70% and greater! With a decent money management approach your winnings should be a very considerable amount that should please you very very much!

Most problem traders have is to be disillusioned at the sight of a loss or two. Don’t go down that path and get in to spiral or a whirlpool of emotions. Take step back and get back in the game with calm and your systematic approach.