doublef
Registered: Nov 2009
Posts: 6 |
11-06-09 10:43 PM
Quote from Banana14:
The time investment is definately the most significant.
It seems to take ages, with many ups and downs.
One week you'll be up and think you're on the path to Buffettland; the next you'll lose all that you made before. Then you start taking riskier bets to try to recoup your initial losses, then you eat into your capital.
How many times you have to experience this cycle, I don't yet know.
Acting extremely coldly to winners also takes a lot of practice. Losing you learn to live with; winning really lets you lose your grip as you start dreaming of ferraris and peachy play in malibu and thinking you're invincible. Then you make some mistakes, then you lose your prior winnings and on it goes.
Another thing i've learnt is, don't rely too much on what you read on the internet. You have to be your own man and do your own analysis. Acting on the basis of some blog or paper where they'll suggest some type of action invariably leads to pain in my opinion.
All in all, it entails financial, emotional and time related costs.
Thanks for adding the emotional and time costs, many have ignored them.
|
