investment

If you can identify with the above scenario, I can tell you're probably in a world of hurt and losses. It's always easier to blame the markets, people and systems for your trading failures. After all, it's always someone else's fault but your own.

However, if you don't take responsibility for your trading results, the truth of the matter is that you'll never get anywhere closer to being a consistently profitable trader. Why?

Taking Responsibility For Your Results
If it's always someone else's fault for your losses, but always your intelligence and ability for your wins, the truth is you're going always have your trading accounts blown out of the water sooner or later. Why? Because by avoiding taking responsibility for the losing as well as the winning trades, it makes it difficult to manage and reduce trading errors that result in the losing trades.

If you look at it, who's in charge of pulling the trigger on the entries and exits of your trade? Your broker, or you? The trading system that you're studying, or you? Who else has access and enters the trades in your account other than you?

If the answer is you, and only you, then it's the smart thing to do by taking responsibility for the results in your trading account.

Why is it the smart thing?
By taking responsibility for your trading results, you are in essence telling yourself that everything that happens to your trading account is a result of the decisions you made and actions that you took.

The bad side of it is that if your account statements have been nothing but dropping every month, you realize that you're a terrible trader. The good side of it is, since the state of your trading account is a result of your decisions and actions, by changing your decisions and actions you will change the future state of your trading account.

By taking responsibility, you are taking back control of your trading.
When you take back control of your trading, you can do something about the results.

Start examining the trades that you took, the reasons why you entered, why you exited, and overall how you managed your trading account.

You'll start to see the blind spots in your trading behavior that you've never noticed before. That's great, because now you can do something about them. When you find out the real reasons for your trading results, you can do something about them to take you one step closer to being a consistently successful trader.

Once you take responsibility for your trading results, and realize that you and only you are in control of your trades, you are starting the journey towards becoming a consistently profitable and successful trader.

And as you examine yourself as a trader, sooner or later down this path you will become a successful, and really really smart trader.

So if you really want to be a consistently profitable trader, don't give up. Just get smarter.

About the Author
Ryan Lee Daniels runs a website dedicated to Forex Trading Education.