Until tomarrow, I wanted to release my thoughts upon the unwilling masses. :blink:
I've been taking a look at the Automated Tracker Software just a little closer then usual. I took note of a few things. The membership utilizing the tracker has taken a loss, as of late. Its somewhere in the 160's. I'm sure this fluxuates from summer to winter, from Bear to Bull. I'm currently in the 30's and have not been doing too well since winning my March 2008 award for "Best of the Month". To go from +6% YTD to -0.60ish% YTD is frustrating when you look at it from a motivated point of view. Thats a hit which appears (intitially) hard as hell to overcome. Not to mention the $$$ that got flushed down the toilet due to bad decisions. Its easy to get mad at yourself, policies and anything else that comes to mind when seeing red.
More to the point, The tracker put a few things in perspective. I took note of the membership's position and found that some become very cautious when doing well YTD. It sometimes appears to be more then just Capital Preservation during a Bear Market. I know, I've done it too. On the otherside of the spectrum, I found that some are more likely to "go for it" to make up for extreme losses they've incurred thus far. Yes, the tracker has more value to it then just Face Value.
With that said, I decided to do some reevaluation of my goals, strategy and current position. While doing so, I found that many members have previously posted some of my new conclusions, but until I was exposed to the reality, it wasn't real for me. Well, you learn everyday, don't ya ?
Here are some of the things I've found out for myself;
Yesterdays loss means nothing today.
Bad decisions happen, but shouldn't dictate future decisions.
Good decisions happen, but shouldn't dictate future decisions.
Your best decision may be the one you don't make.
Emotion is draining and can be a very dangerous tool.
Homework at this age still sucks, but is vital to meet your goals.
You won't always be right and you won't always be wrong.
You must have fun doing what we do, without it, its too hard.
Maybe this little rant can put some thought behind action. For some of the newer members, maybe in some way, this can give perspective. Even if your in double digit losses so far this year. Its hard to say; "Today is the first day of the rest of your investment life". But isn't it ? Look forward and find the positives. Even if they're not easily seen. In the long run, you'll have a better shot at being more right then wrong. And thats what its all about.
