how long does this last??

So I recently made my first (non-401k) equity investment and now I am a total mess. I think I just confirmed that I am not cut out for this- I feel the urge to hit “refresh” on google-finance every 3 seconds and its taking away from my productivity. I don’t need any opinions on my timing, just want to know if anyone else had this sort of anxiety when they first dipped their feet in the trading sea. Its a teeny-tiny % of my worth, but I’m such a p*ss. will repeat to myself… long-term… long-term… long-term Now I’ll continue perusing level 3 reading to see just what emotional investor pattern I match :slight_smile:

Similar boat…athough my horizon is shorter (2-4 years for first home purchase). Just remember that those who ultimately profit are the ones who buy from the frantic sellers. Do you want to be a frantic seller or a patient holder?

Know the feeling well, particularly the first few short positions.

Keep doing it and you’ll get used to it. My first buy I checked every few minutes! Now I rarely look at my portfolio.

ditchdigger2CFA Wrote: ------------------------------------------------------- > Keep doing it and you’ll get used to it. My first > buy I checked every few minutes! Now I rarely > look at my portfolio. same but I don’t check my portfolio because its down 75% - 90% and I am already an alcoholic

Anyone have some good books on trading? I know a few were mentioned previously but I can’t seem to find them. I just opened my first margin account today…gasp!

I haven’t taken any new public equity positions for half a year now. Probably the best investing move I’ve made in a while – not totally intentionally either. Mostly, I just got busy with work and didn’t have time to check my stock portfolio all the time. Got most of my liquid assets in cash equivalents like CD’s and stuff.

I got slaughtered with my first few buys and now I stick to ETFs.

juventurd Wrote: ------------------------------------------------------- > I got slaughtered with my first few buys and now I > stick to ETFs. Ditto. Even then I tend to look to often at the price after the trigger gets pulled.

I did when I started. The more you do the less you feel the urge to check, especially if you have a longer time horizon for your investments. Every once in awhile I’ll watch a certain sector for a few months and get that gut feeling, make a quick trade (1-2 days) and be done.

Akanska, I think you just have to be behind your buys decisions 150%. If you have doubts about a name it creates the anxiety that causes the ole ticker watching syndrome. Also, the more you realize there is not jack you can do about volitility, I think you just realize watching the ticker is a crazy waste of time.

I look more often than I should, just because I find it so darned interesting. Nassim Taleb in Fooled b Randomness points out that the more frequently you look, the more trading noise makes you doubt yourself (and he has a table that is very eye opening). So you need to know why you chose the investment and know what the time horizon for success is. It also really helps to have your sell discipline established before you enter the trade. That means that you have already decided at what point (up or down) you will exit the position. Whatever sell rule you decide - you stick to it religiously - if you change your rule, you will only apply the change to new trades, not existing trades (unless you’re being more conservative). That way, you won’t be wondering what to do as the market goes bizzare on you. If it hits your limit, you get out. If it doesn’t, you’re still in. All of this helps you manage your emotions.

I always hate when I make a trade and it immediately goes red. Damnit. It’s depressing to do all of your research and due diligence only to have your trade go the complete opposite direction. Regard everything as a learning experience. Don’t feel like you’re the only person losing money because right now probably 90% of personal investors have lost money this year. If you ever lose your investor self esteem just go have a look at all of the idiots running around on the Google Finance boards. I shake my head in disgust when I read how those people are investing. The number of people blowing their retirement cash on Lehman thinking it would gap up was just sad.

sucks for you guys, i only buy stocks that go up.

MFE Wrote: ------------------------------------------------------- > sucks for you guys, i only buy stocks that go up. Ha! Gotta love it.

Gouman Wrote: ------------------------------------------------------- > Akanska, I think you just have to be behind your > buys decisions 150%. I feel like that’s awful advice. You should always be ready to adapt to changing fundamentals. Stubborness is not a desirable trait for investors/traders. Chad made a good point when he recommended a stop. At some point, you have to admit to yourself that you are wrong. Many people who make good $$$ in the market are right only 20% of the time. They cut their losses when they are wrong and ride those winners.

I’ve gone on record with customers as having said that 2008 is basically a write off and that we’ll be well into 2009 before things materially improve. I would suggest that once the BKX banking stock index outperforms the broader S&P 500 for a period of weeks, we should be able to sound the all clear but certainly not before that. Willy