of iron ore,gina & twiggy tuesday, page-55

Great thread tonight guys .Just like to add my two bobs worth .Whether you're a TA afficiondado or an FA expert or a fluke artist like myself it's been my observation that to make big money in the markets you've either got it or you haven't.

I've seen people educated by the best TA guys on the planet till they had the stuff coming out of their ears but when it came to putting it into practice most are hopeless .Similarly all the FA theory in the world ain't gunna help you if you can't smell a rat at 10000 metres .It's more about natural smarts and keeping your feet on the ground.

The most successful people that I've encountered in the markets have had these qualities in varying doses .Temperament ,patience ,timing and scepticism,and of those the most important is temperament.If you are unable to control your emotions ,as most people aren't ,then you have very little hope ,or if per chance you do have some success it nearly kills you in the process .

If you're not cut out for it then learn your TA and try to make some fairly risk free income ,but don't ever think you can get a huge earn out of it . And the only way to win big is to bet big ,though I realise that goes against the grain of everything you read here and elsewhere on HC from those who purport to trade for a living .

That's just my philosophy which suits me .I respect the views of the majority who don't share that philosophy but it's my belief that unless you're very devoted and disciplined the slow grind eventually wears you down in the end .I've seen many people lose patience and heart even though on the face of it they're doing nothing wrong according to the book .

Fortunately we're all different and understanding the sort of person you are ,your abilities and your limitations ,emotionally and intellectually ,is the most important step towards getting an earn out of stocks