Let's talk about our feelings, shall we?
I think the problem with me is I keep drifting back and forth in my mind between seeing myself as a day-trader and a longer-term investor. Excessive hype, either way, the Stiltz1 way or the cockroach@pacific way, has the net effect of triggering my day-trader personality which triggers anxiety. The desire to make a quick buck or to avoid looking at a quick paper loss is what gets my butt in a sling every time.
I agree with an earlier poster, I think it was Lynn, who said that it's all a matter of perspective, with regards to timing. For daytraders, being correct about daily price swings is essential. There is great satisfaction to be gained from being right here, regardless of the direction in price. I don't blame Anthony for gloating a little, especially after the ration of shit we gave him yesterday. If NAVR had gapped to 20 this morning I probably would have been over on the Cockroach@Pacific thread to rub his nose in it too.
If there's one thing I've learned in my short investing career, it is that every dog appears to have it's day. That fact is confirmed whenever I look at the chart of my past transactions. There isn't one stock in my past portfolio that hasn't either already recouped it's losses or presently stands an excellent chance of doing so. Patience would have been rewarded, almost every damn time.
This is a lesson I've learned the hard way, it has cost me some money. I consider that money tuition. Going to school, especially a good school, isn't cheap these days, but it one of the better long-term investments that there is.
Mike |
