Passion Distraction

Initially when I started the Stocks vs. ETF Challenge, I had envisioned it would be set it and forget it with orderly monthly updates. I learned quickly, and am still learning, that the stock markets listen to no one.

Easier Said Than Done

From Libya Crisis: Best Trades Ever! I proclaimed, “Quickly reassess what to do next.” What I actually did was take a few days off, focus on blogging, whine to myself as the stocks and ETF I was watching rocketed away from me. After crying for a few minutes, it dawned on me. Although my emotions are now in check, I was repeating the same crucial mistake. After executing my trades, I usually took time to recover. If the trade goes against me, I would focus on another passion project, make my ego feel better, and then the trades would drift even farther away. Similar to how you can get lost in blogging with all the metrics and tweaks, I distracted myself from trading with my blog! I need to fix this, pronto!

Focus Trinity!

I made a decision early on that I wouldn’t be a day trader. The price fluctuations, every minute, would drive me insane. Plus with my day job and blog, no can do. I’ve been doing ok with medium term trades as it was aligned with my pace. Problems arise when I hit turbulence like Libya and spiking oil. I need to re-prioritize. I can keep my loose trading style, but have to accept some trades possibly running away from me. Or if I want to be more active with my portfolio I can’t be taking days off to recover. Like Morpheus advising Trinity to focus, I need to focus and not distract myself with my day job or blogging.

My problem is trading specific, but the solution can by applied to any problem you face. Identify, analyze, prioritize, and take action. Now if we could just get this message to Charlie Sheen, we don’t have to hear about Tiger Blood and Goddesses again. I couldn’t embed the video, so I included a link at the end of the page. Have to get through my special thanks, first! 🙂

Blog Carnivals

Totally Money Blog Carnival – Outrageous tax deduction edition hosted at Wealth Informatics featured Brake Job Or Brake Scam

Featured In

The Millionaire Nurse Blog also featured Brake Job Or Brake Scam.

Beating The Index featured Can Stocks Outperform an ETF?

Thanks Beating The Index for also featuring Is Saving Not Sexy?

Budgeting In The Fun Stuff featured Black Swan Blogger.

Broke Professionals also featured Black Swan Blogger.

I really must have struck a chord as 365 Days On A Budget included Black Swan Blogger as well.

Special Thanks

I won my first giveaway at Squirrelers. He generously gave away five copies of H&R Block Online Premium Edition. Find out more here.

You made it! Ok, as promised, enjoy Trinity Escapes From Agents!

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8 Responses

  1. MoneyCone says:

    You would be a perfect candidate for indexing, Buck!

    Ever watch Jim Cramer on CNBC?

  2. krantcents says:

    The market volatility can be a bit much right now, but investing is for the long run! Isn’t it? There are days when I took 2 steps forward and the next day I am almost back where I started. That part drives me nuts. Sometimes I only check my portfolio once a week instead of daily because of that.

    • Buck Inspire says:

      Very true. I feel the same way. Sometimes it feels worse, one step forward, two steps back! Checking weekly and monthly would be nice. I guess I’m a glutton for punishment. Hopefully this volatility settles down a bit. 🙂

  3. 101 Centavos says:

    Day trading would be way too stressful for me. Hope you feel better with your decision to give it up….

  4. If you are freaking out about a few down days, I suggest you start trading options. Once you’ve put a good amount of money in options, and watched it go from up 200% to down 80%, small fluctuations in common stock and ETFs won’t phase you.

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