What It Means To Be Responsible - My Personal Experience
- A responsible man first accepts and understands the need for the existence of irresponsible human beings, for without them there will not be a balanced life.
- A responsible man also understands to be responsible is not that easy but eventually achievable
- A responsible man (trader) treats trading as a business not as a hobby
- A responsible man (trader) respects every aspect of his business
- A responsible man (trader) applies his personal life principles, values in his business
- A responsible man (trader) works more on himself than spending time on trading systems
- A responsible man (trader) first spends time learning the very basic requirements of his business and then starts applying and practicing, for he understands trading is an on-going process, every trade is unique, in every trade there is a lesson to learn.
- A responsible man (trader) does not invest today with the dream of becoming rich yesterday
- A responsible man (trader) holds only his actions/inactions accountable for his successes and failures, does not waste time passing the buck on world events and others.
- A responsible man (trader) works regularly on learning more from his successes than his failures, for he considers failures as events of the tasks he undertook.
- A responsible man (trader) employs his full emotions in his business, he doesn’t waste time controlling something that was not acquired from a super market
- A responsible man (trader) learns the importance of savings
- A responsible man (trader) closes his terminals once he has achieved his daily targets, whether in one trade or multiple trades
Effects Of Sub-Prime
The ugly side of the sub-prime, Alt-A, B etc. was known way back in 2007 itself. It’s the total irresponsibility of us, which led to this catastrophic situation; I don’t squarely blame only the banks and institutions. If and when a friend of mine comes and tells me, there is a bank which offers loan without any valid documents and only they charge higher interest, and he wants to go for it when he is not earning adequately to support him, I would slap him and tell him to forget it.
The greed of big guys did not ask or tell us to fall for their greed. It did only warn us on time to stay away from it.
We are more focussed on analyzing the character of our politicians but we fail to understand our own. It’s high time we started doing that first, if we wish to become not only successful in trading but mainly in life in a responsible manner.
Healthy And Wealthy Trading
Suresh
The first point was a real kicker … existence of irresponsible human beings & their greed … is what makes the responsible trader wealthy.