Hello themickey, Why would I change the way I think at older age? I will feel and think that way my entire life. What age has anything to do with it?
Generally as one gets older they get a tad wiser. I'm guessing maybe you didn't have any or many older role model people about when younger. Money as your one and only true love and owning material posessions as a predominant goal in life - well everyone to their own. There's no doubt being financially well off is comforting but no love other than that. Not a good anchor for your soul imo, it seems a bit empty.
LOL... there's only one piece of advice I can give you - and I learned that from reading lots of Kahneman - and it sounds like you're half way there. Get to know yourself. I can't help anyone trade any more than I can pick them a mate or a pet. Everyone has slightly different views, expectations and feelings when they have positions on. And those feelings change as the position gets better/worse or much better/much worse. One small example I learned about myself years ago is that I can't let winners run. I would never be able to buy a stock at $10 and let it run to $600 because I'll always sell it at $40.
Thanks. Halfway there is not there. What do you do after that? Losing is a pain I tried to avoid, detrimental to being profitable. As a result, take profits earlier and earlier, profitability dwindles.
Did you make any adjustments regarding letting winners run?? 300 percent gains would fall under the "letting your winners run"
Good Morning semperfrosty, I disagree with that statement in your picture. That statement in your picture is sounds weird. There is no greater feeling in the world then being rich..it's all that matters in life for me Being poor is not good feeling. Especially if you live in America like me and born here.