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Burntgambler and others

There is one other point about a trader or investor, that you miss. And that is the fun aspect. I enjoy the gamble, thrive on it. Like the emotion.
I freely admit that I barrack for my stocks like football teams. I would at times have worn their jumpers if they had one.
I almost put tiles into the bottom of my pool in the shape of MMX. (MMX after all paid for it. 0.30 to $5 only a handful left now). PNA I also have a bizarre and unhealthy love for, as far as a human can love an inanimate organisation, and I barely own any anymore. (love them with all my heart).
I often trade some of my stocks, some daily. Some rarely. NKP has unfortunately been a set and forget.
I have no problem with saying I have more NKP than I should, due to emotional decisions. I enjoy the emotions. I will also be happier than most if it ever comes good.

I have also been up and down massive amounts in my gambling / investing. I still consider that I am gambling with "their money" as I am currently up. Makes it easy to deal with bad losses, like NKP. At times I have been up enough to retire early, but now is not one of those times. Without emotions I would have quit and retired at that point, but without emotion I would never have got to be that far up in the first place.

I even partly enjoy it when they are down in a bizarre fashion. I have made some very stupid decisions, CTO, RTM, NKP, SRK, CVN. And many, many more absolute disasters. (note I still love CVN, and still tolerate NKP, and will chase them emotionally and irrationally if they continue to go down). I have also made some very good or lucky decisions based on emotion.
At the times I have tried to follow a formula and cut down on emotions and I have made a more consistent and less risky dollar. I have also had less fun and I tend to loose interest in it quickly.

But I have never had a real corker without really getting into it and letting it ride with my fingers crossed and praying and averaging down. SMM is one, PNA, MPO. MMX is a real good example. I bought lots at ~0.30, bought more at 0.25. I also bought some on the way up. If following a formula, I probably would have sold half at 0.60, half again at 0.90 etc. I would have made some good money, but I let it go to over $5 and sold almost the lot of it then and I made some great money. (not the $6.24 it got too, but good enough). I was emotional and irrational and I was going nuts over it, at one stage, halfway up, I sent a valentines day email to Paul Kopeka (not sure of the name spelling), expressing my love for the stock. PS don’t look at their share price now, but this is not my problem. Emotional trading won me on that one big time.

Also consider that emotional Rogo is going to be happier going about it his way than a no emotion trader, (not necessarily richer, just happier and having more fun), when / if any of my duds come good. It is just like when your footy team wins a grand final. And it is close all day and you picked the exact margin, and you put lots of cash on them to win by that margin, and you got drunk with your mates, and someone else was looking after the kids, and you made of like a bandit. Best day ever type stuff. That is why I stay emotional (although I am not sure I have a choice in it). Note I hardly follow the footy anymore as I barrack for my stocks.
For the same gain, I would enjoy 1 stock go up 20 times and 9 go nowhere or bankrupt, than have ten steady small gains. It is way more fun and way more exciting.
I am sure you could show me evidence of how much better off I would be if I was more into charts and way less emotional, and I do believe you, I just like the way I do things.
Having said this I still do lots of research, and this is when I tend to fall in love with the stock.
It is also why you might see me swing from cursing PL and gang to giving them praise or defending them. It is just the way I am about stocks. I vaguely remember joking about paying him a visit with a sackful of doorknobs. I also have said he is doing a good job in a tricky situation. If they come good I will probably send him a bottle of vino.

Also note I have not had any great wins for a while, so I recon like most emotional investors / traders (or problem gamblers) that I must be due!