was I mistaken thinking it was simple since it was obvious? I though we were going to end up with a nice catch phrase and now we have a 7 letter acronym.
NAS, this is of course very true for the majority of people! However, when we are very young we are like a sponge, soaking up everything that surrounds us. Then, as we develop, and we get "educated", we tend to see things in a different way, to the way we started out! Maybe, just maybe, if a trader really wantsâ to "make it", then instead of making the trading fit their lifestyle, the might be better off to change their lifestyle to fit the trading! However, that is a big risky thing to do if you don't know what the hell you are doing! So, going back to basics, if you don't know what the hell you are doing, then the odds are you will not be able to do it! Is it not amazing how many people risk their hard earned money in the "markets", and yet they know very little about how it really works! Like the "education" that changes our early way of thinking, we must also be aware that the "trading education" we receive will also change our way of thinking, and it is usually for the worse, as is proven year in and year out, in all countries, with all races, and all ages!! The hard and real facts are - anyone who risks their money, without fully understanding the meaning of risk (high probability of losing - and we are not even contemplating what leverage can do to a person who does not know what they are doing!), well, lets just say they will get exactly what they deserve, for: "We are what we think"
R. = Reaction The term is C.O.N.T.R.O.L If you are not in C.O.N.T.R.O.L then your chances of success are greatly diminished - some would say about 99.999% not in your favor! You can be as thick as a plank, and if you know what you can do when you are in C.O.N.T.R.O.L, you can beat all the so called "experts" hands down! I bet you $1K, that if you ask 100 traders who have lost money this year, to explain how they trade, you will see that are at the opposite end of C.O.N.T.R.O.L, which is C.H.A.O.S C. = Casual H. = Hoping A. = Angry O. = Over Confident S. = Silly
It is no good blaming anyone but yourself MT! BTW, I am a weirdo, and so is everyone else on this earth Thing is, I can be a weirdo or a magician, the choice is mine to make, and I choose whichever suits best! Sometimes I find it is much better to be "Mr. Weirdo" than to be "Mr. Magician"! After all, who in their right mind would look at chart the wrong way up, and make money
The hardest two to get are; N. = ? and O. = ? L. = Level Headed Think about it! C = caution O = observation N = ? T = timing R = reaction O = ? L = level headed O = ? has already been mentioned in this thread, but to find it you must ask mother!