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Wednesday, 19 December 2012

Reasons for failure

If you watch the news or politically heavy shows, invariably, you will see some MP or other skirting around the truth as to why his or her plan/policy failed to deliver on promises or expectations. The economy takes the blame for the most part or some unexpected aspect came from left field to throw these rock solid ideas into disarray.
The epitome of untruth, politicians make the worst role models because of their inability to be honest. How often do we watch an MP spouting drivel, where you can plainly see he or she is beginning to believe their own bullshit.
With such internal dishonesty, how good a trader would the average MP make?

As ever, the point of this post simple; there are two reasons for failure.
Failure comes from the wrong plan or the wrong people. Sometimes a mix of both but only ever these two.
This then, can be broken down to ever simpler terms - The wrong people will create a bad plan and not adjust it or not create one at all.
The traders maxim "plan the trade, trade the plan" holds firm because the right plan contains the action for every possible outcome.

At the end of your trading today, analyse both your green and red trades and ask yourself was the outcome a result of plan or person? You may be surprised at the answers.

Stay green.

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