Do we realize how many excuses we really give when we are trading? Of course all of these are offered as “reasons” for why success is eluding us! Problem is, we don’t realize that we are giving excuses, when, to us, they all sound like reasons! To understand the difference between excuses and reasons, one has only to read the account of the Aviation minister replying in the parliament about why Air India was making losses. The answers were not difficult for us to guess. High cost of fuel was number one reason touted. Valid. But that was it. The other reasons put out seem rather tame. Competition from low cost carriers was another. A third was high airport usage charges. Weak rupee was also thrown in. All of them sound plausible as a reason right?
But they are not. All they are, are excuses. Every airline faces exactly the same set of hurdles that the minister has listed. And still, they made profits- particularly Indigo. Even Spicejet numbers showed operational profits and if it were not for a one time write off in this quarter, the numbers would have shown a decent jump. Are they getting aviation fuel at some special rate? Or are they making it in their backyard that the fluctuating Rupee will not make a difference to them? Is fierce competition from Jet and others not a factor for them as well and are they not taking it on boldly? Every airline uses airport infrastructure and pays for it- not just Air India! Now, I trust you got the difference between reasons and excuses.
Which person “knows” on a daily basis about which stock is going to move up or down today? Answer is No One. But what do losers say? The ‘khabri’ always knows! Who knows where the tops are today and where are the lows of the day? Answer: No One. But what do the losers say? Operators always exit at the top or bottom. Which broker is so good that his clients always make money? Answer: No one. But what do losers say? My broker is no good. He is unlucky. He doesn’t get any information. His research is useless. His dealers are bad. His intentions are not very good. He is a cheat. And so on.
Rubbish. Each of them. Those are lines spoken by losers to make it easy for them to get thru their day, to go on with their losing lives. Blame anything and anybody except themselves. Just like the govt does not accept responsibility for making Air India a better airline, something that we can be proud of. If you ask any traveller, the last airline they choose is Air India. Unfortunately the govt has its head buried in the sand about why the airline is not doing well!
If you are a not too successful trader, then don’t adopt this Air India attitude of using excuses and passing them off as reasons. An excuse is something that you offer when you don’t want to take responsibility for your action or the outcome. There is only one reason why you are not tasting success- and it has all (and only) to do with you. No one else. Own up to this responsibility and see how matters begin to change. The same way that Air India will change the day the govt realizes that they are not in the business of running an airline but if they must run it, then they should do it like it needs to be done. Similarly, no one is compelling you to trade but if you have decided to do it, then do it the way it needs to be done. If you don’t know how, then find out from those who can show you the way. Read. Discuss with knowledgeable people. Buy readymade systems with proven track record. Attend seminars. Whatever.
Be more. Make the effort. Stop the excuses.