Why Is The Obvious Not So Obvious?

Quote from NERVESASTEEL:

C - Caution
O - Observation
N – (Noise, Normalized)
T - Timing
R – (Risk)
O – (Opportunity)
L – (Lag or Limit)
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My guess

N - neutral
L - limit of your bankroll.
 
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.
 
Quote from NERVESASTEEL:

Ahhh, I thought I recognized a bit of the Socratic Method in your style NYSE. And of course you are right, “What the hell does someone know, who has never experienced the reality of the situation”. However, with your focus on ‘Mr. Bud’, might I rephrase my larger point.

A trader must ‘OWN’ the methodology, plan or system they employ. You can read book after book or ET thread after thread, but if one does not embrace an approach to the market that is right for their individual psyche, lifestyle, or long-term goals, they will fail again and again. The ‘holy grail’ of trading can be dumped in one’s lap but if they are a scalper with the disposition of an investor, or a daytrader who hates risk, it will not matter.

“Know Thyself”
- Socrates
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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 wants’ 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"
 
Quote from NERVESASTEEL:

C - Caution
O - Observation
N – (Noise, Normalized)
T - Timing
R – (Risk)
O – (Opportunity)
L – (Lag or Limit)
More...

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
 
Quote from milktruck:

I blame fate and my high school soccer team.
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It is no good blaming anyone but yourself MT!

BTW, I am a weirdo, and so is everyone else on this earth:D

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:D
 
Quote from nysestocks:

After all, who in their right mind would look at chart the wrong way up, and make money:D
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An artisan Sir :D



Glad to see you’re back
 
Quote from MoneyMagnetDude:

My guess

N - neutral
L - limit of your bankroll.
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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!
 
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