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Non-Tech : Invest / LTD
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To: Timelord who wrote (12696)3/30/2000 6:50:00 AM
From: Thean  Read Replies (2) of 14427
 
Alex, nice to hear from you again! Everytimes I think of you I thought about the SEV fiasco I got you into. Still have all my SEV's and still holding it away, just hoping one of these days it will climb out of its doghouse. Glad you have made it up through trading the drillers.

Stefan,
One thought for comfort for you is to use the current experience as a valuable learning lesson. I have had quite a few valuable lessons myself and now I am not (at least much less) subject to the rollercoster palpitation effect during the big down swings of the market. A trick I learned is to configure my mind to look at investing as walking through a mine field and it is all risk to begin with and I'm expected to not make it. If you have this mindset BEFORE you enter any position and have strategy in place for PLAN B and PLAN C, your odd of making it through improve significantly and the emotional toll it has on you decreases.

Another way to look at it is to treat investing as if you are a pro-basketball player. If you are on a team like the Chicago Bulls which lost close games one after another, how would you handle the emotional cost of losing? It seems that this team has handled it very well because they know it is just a matter of time before they get much better and be able to win most games in close games like in their recent past. The key is they understand they are a young team and this is part of the growing process. Maybe reading some books on the emotional cost of losing will help as well. To be honest, it took me 6 years of breaking even or losing small amount of money before I started making money investing consistently. During those days without the internet, the learning process was so slow and painful. But with today's "instant" learning process, the learning curve have shrunk significantly. I believe having a strong discipline is the first requirement to successful investing.
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