I'm not sure "controlled" is the right word. The markets are moved by fear and greed but I'm not sure what can claim to "control" the markets (aside from Greenspan, that is). I do know this: fear lowers IQ points and greed lowers IQ points. The smart traders are the ones who (a) have a plan (amazing how many of the herd have no plan), (b) realize that they are not one of the controlling factors in the market, that all they can control is their reaction to whatever the market does, (c) know exactly what they will do if the market does X (that is, their plan includes all contingencies), (d) have tested their plan on historical data so they can have confidence in the plan and they are aware of the risks (like maximum drawdown) and they aren't panicked when the risks manifest with real money on the line, (e) know that their plan has both an edge and risk management components, (f) are always looking for ways to improve their edge (that is, always looking for ways to improve their plan through retooling or replacement), (g) stick to the plan which has been validated on historical data and not let emotions override a proven strategy.
Grob109, I started highighting your post Grob109 and I ended up with the entire thing...Thanks Grob109 for this post, I agree with all of it and I could understand it the first time through. Perhaps I am understanding you more! I took a clip from your most excellent post to highlight where I want to refine myself to...the destination is getting closer and closer with a little help from my friends Michael B. Money makers, I find, generally consider most how effectively and efficiently they are performing. This is very far away from considerations of even the possibilities of losing money.