CC, First, I wish I were 15 years old. I have socks that are 15 years old and I'll wash them when they just get too grungy. <g> I have an article written about me in a 1985 edition of "Futures" magazine. My experience has been that fetuses rarely get their pictures in that rag. <VBG>
What you are talking about is gambling addiction. True, you used stocks and that is more acceptable than using roulette or ponies, but it is the addictive part that is dangerous. All of my discipline in the growth side of the market, as opposed to the income side, has been to restrain my feelings of being bullet-proof when I get hot. 90/10, buying in thirds, diversification are all designed to keep me from losing the ranch when I think I have a sure thing. I am an extremely confident guy and have been very successful, all of which can lead to investing hubris and total destruction of finances and personal life if not controlled.
My recipe, and one that may not work for others, is to challenge myself in other fields when I feel the gambling bug biting me hard. For example, right now, I am trying to increase my personal best bench press by 100 pounds during the year 2000. It is a hard goal and keeps me tuned into something worthwhile other than playing the market. Also, try to learn other investment concepts where you do not feel that you have superior skills. Yet. I would suggest currencies, which can be rewarding and humbling. Of course, since you are learning, you have to invest less.
Much of this reeks of thinking about a baseball game while having sex, to prolong it. But sometimes I need to play some diversionary games with my head to keep me away from destructive behavior. And you can still play the market. If you feel good about picking stocks, why not use a 90/10 system and play them with long calls? You can easily make the triple figure numbers if you are right and not get hurt badly if you are wrong. And none of that nasty margin stuff. <g> |
