Why You Fail in Trading: You Don’t Take Ownership Of Your Trades
2025-06-19 10:01:16
Excerpts from the Daily Trading Coach – I Alone Am Responsible
Goal of This Lesson:
To internalise full responsibility for your trading performance, win or lose, and eliminate the need for external validation or reliance on others to make your decisions.
“The best traders don’t trade perfectly-they take perfect ownership.”
Most traders fail not because they lack knowledge, but because they avoid responsibility. They want a shortcut, a signal, or a guru. But markets don’t reward followers. They reward those who build process, review mistakes, and refine their edge-alone if necessary.
The shift happens the moment you stop asking, “What should I do?” and start deciding, “Here’s what I’ll do.”
Many traders start their journey clinging to YouTube videos, signal providers, or chatroom gurus, secretly hoping someone will rescue them from the uncertainty of the markets. But trading doesn’t reward dependence-it demands ownership.
Chris Czirnich, in Brett Steenbarger’s The Daily Trading Coach, says it plainly:
“I alone am responsible for any action taken. There is no one but me to blame.”
This simple but powerful truth is what separates the amateurs from the pros. When things go wrong, do you blame the market, the news, the mentor, or the spread? Or do you review the journal, refine the plan, and keep improving?
Real-Life Analogy:
Imagine driving blindfolded while someone else gives directions. Even if you crash, technically it wasn’t your fault-but you still suffer the consequences. Trading works the same way: if you're not in the driver's seat, you're not in control.
The 10 Principles That Will Keep You in the Game:
1. I Alone Am Responsible
No one else is to blame for your losses or missed trades-not the news, not your mentor, not your broker.
“If I screw up, there’s no one else to blame.”
Action: Write this in your journal every morning before trading. Say it out loud.
2. I am the holy grail
Stop chasing the perfect indicator, course, or strategy. It doesn't exist. The way you respond in the market is your holy grail.
“Even a 50:50 system can be profitable if managed with discipline.”
Action: Pick one approach. Commit to it for the next 20 trades. Optimise it instead of replacing it.
3. I Trust My Evaluated Experience
You don’t need external confirmation to enter a trade. Your preparation and experience is enough.
“If you don’t trust your system, you’ll never be able to trade it.”
Action: Build screen time. Let your subconscious form pattern recognition through exposure.
4. I Will Get Back Up Even If Beaten Down
Resilience is the edge that nobody talks about. Red weeks don’t end careers, quitting does.
“You need to stand up again after being beaten down.”
Action: Create a “recovery protocol” for red streaks - review, journal, reset. Never revenge trade.
5. I Will Keep Showing Up
Luck plays a role but only those in the game can receive it.
“Being lucky from time to time helps, but you must be in the market to experience it.”
Action: Focus on consistency, not perfection. Don’t discredit wins just because they weren’t textbook. Whatever your day was yesterday, show up on to the next.
6. I Will Keep a Trading Journal
The edge lives in your review-not in the moment.
“The value of a journal is in its review, not just its initial writing.”
Action: Review your journal weekly. Highlight repeated mistakes. Turn patterns into rules.
7. I Will Write a Personal Reflection
Speaking your process out loud creates clarity and accountability.
“By writing, you relive the feelings and see the trade for what it really was.”
Action: You don’t need an audience. Write daily trade recaps in a private doc or voice memo.
8. I Will Not Panic
The worst losses happen when instinct overrides process.
“If the market drops and you’re long, don’t panic. It’s organic. What you are feeling is natural. Decide based on your plan.”
Action: Prepare a disaster plan for volatility. Know when to cut, when to pause, and how to react.
9. I Will be Be My Owner Mentor and Observer
View yourself trading from the outside. Become your own coach in real-time.
“It’s a calm voice that cuts through the chaos and reminds me what I should do.”
Action: Set alerts that ask: “Are you trading your plan or your emotions?” Pause and reassess. Whenever you trade, put your personal trading mentor hat, being an observer of yourself.
10. I Have an Edge
Without structure, talent dies. Without an edge, you are gearing up towards compromise.
“You must be able to prove to yourself that your trading system works and will make you profits in the long run.”
Action: With the approach you have, refine it. Test it. Test it will realtime data through backtesting and/or forward testing.
What This Lesson Teaches:
1. Others Won’t Save You
Most traders look outward because they don’t trust themselves yet. They lean on influencers, watchlists, or paid groups to validate their decisions. Others can be a start-up in your trading journey. But if you can’t follow your own plan, you’re not trading - you’re copying.
The need for a guru confesses an absence of self-guidance.
Mentors are there to help you with your performance not to perform for you.
2. Responsibility is Power
Owning every outcome gives you leverage not shame. It’s not about guilt; it’s about control. If you caused the loss, then you can fix it. That’s empowering.
“If I have a red week, I can tell you exactly why-it’s because of something I did.”
You are mainly responsibly with your trading.
3. You Don’t Trade Your Teacher’s System
Even if someone shows you a working edge, if you haven’t internalised and validated it, it won’t work for you. Your subconscious won't trust it. That’s why many traders jump from system to system-they’re looking for a shortcut around personal development.
Actionable Approach:
1. Audit Your External Dependencies
- Make a list of all the sources (influencers, groups, indicators) you rely on before pulling the trigger. Pick one you can follow. Stick to it. Or, create your own.
- Ask: Are these confirmations or crutches?
2. Write a Personal Trading Manifesto
- Answer:
- What do I believe about the market?
- What setups do I have experience?
- What am I willing to risk?
- What’s my rule when I’m wrong?
3. Execute With Ownership
For the next 20 trades, before entering, say aloud:
- “This is my decision, and I will take full responsibility.”
For emphasis, you are responsible whatever the outcome.
4. Review Without Excuses
End every week with a review:
- What did I control?
- What didn’t I?
- What needs adjustment?
Final Thought:
The moment you stop looking for a guru is the moment you start becoming one. Trading is a mirror. It reflects your strengths, your weaknesses, and your will. When you finally say, “This is my system, my call, my responsibility,” you will begin to approach the market in a different lenses and level because you’ve begun treating yourself like a professional.
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