My Diary

Blame – eternal vs internal

To quote Mark Douglas from the book, Trading in the Zone (2000) page 18 says

It’s extremely difficult to perceive that the source of these problems is our own inappropriate attitudes. That’s what makes fear so insidious. Many of the thinking patterns that adversely affect our trading are a function of the natural ways in which we were brought up to think and see the world. These thinking patterns are so deeply ingrained that it rarely occurs to us that the source of our trading difficulties is internal, derived from our state of mind. Indeed, it seems much more natural to see the source of a problem as external, in the market, because it feels like the market is causing our pain, frustration, and dissatisfaction.

And this is so true. Any Stoic would tell you that the only thing one can control is their self and their actions. If you want to improve, you need  to accept your failings, learn and change your attitude in such a way to not repeat the mistakes. By externalising the blame, it is easy to wash your hands of the responsibility and ensure that the status quo continues. Always been in a student mode, be receptive to shortcomings, seek feedback and practice to change the habits which not benefitial.

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