Casting yourself as a victim is the antithesis of doing your work. Don’t do it. If you’re doing it, stop. – Steven Pressfield
Whether it’s a long string of medical conditions or some other form of bad luck, we all know people who appear to be very comfortable in the role of the victim. Their terrible misfortune might be a deliberate plea for attention, or maybe they buy into their story too. Either way, playing the victim is a great way to avoid actually doing anything significant.
The financial world is filled to the brim with victims.
There’s the poor guy that didn’t realize that tech stocks could go down in 1999, so he quit his job to become a day trader. He knows for a fact that there are no real winners in the stock market.
Then, there’s the woman who took on a mortgage that she couldn’t get out of when the housing bubble burst in 2008. She can barely afford her new rent payment, how on earth would she find money to invest?
There is also the poor young professional who just doesn’t have the capital to get started and the elderly gentleman on social security who thinks it is too late.
My personal favorite is the guy who believes he is the smartest guy in the room and refuses to trade because he saw a Michael Douglas movie and he just knows the whole thing is fixed and he isn’t fortunate enough to be on the inside.
No matter what your circumstances, your life is littered with experiences that you can use as reasons why your trading isn’t successful. However, the only way to become successful is to stop using those excuses and start doing the actual work.