can't get out quick enough, page-4

Boz,

Mate my heart feels for you but!!! Let me just tell you about my own shortfalls in investing and the hard lessons learnt.

First and for-most Let it be understood by you where the appalling performance just might lay? I will only speak on my own experience here and I trust their are many who share my view.

Firstly- My greatest wealth destroying factor in the share market is to fall victim to the daily market swings in prices of a particular stock that I have invested in!!!

This alone has screwed with my emotions resulting in the loss of $100?s thousands of dollars of superior gains over the past 14 years of trying to work out this head case we call the stock market.

Just to give you an idea of what I have brought into (invested is too loose a word to use here for me). That I!!! Under my OWN FAILINGS due to being a fool to EMOTIONAL SWINGS to stick by the reasons of why I brought into these companies in the first place!!!!

GOT THAT???

I?ll give you a few examples of this,,,

Jubilee Mines- brought around $1.54 and sold for a wee more.
Webjet- brought for around $.05 and sold for around there.
Santos- brought around $2.50 and sold for around there because it just went sideways for too long for me.
Persus- tipped to me at $.22 by a driller I know in Ghana but failed to make the purchase.
Extract- in at $1.33 to sell at $1.60,,, Wha????????????
Paladin- at $.25,,,,, well here we go again,,,,,,
QBE- after Sept 11 was a screaming buy but again was a fool to the heard mentality.
NCM- When they started off Telfer again??? I knew it was a buy but failed to realise the long term value offered.
MCC- Got in on the initial float only to sell out 2 weeks later for now (looking back) was a piss poor profit comparative to what might have been.
PRR- I had a mate kicking me to buy @ $.018 (he has a mil @ $.10) from around 5 years ago,,,, read that for patience!!! Now he is sitting on a tidy paper profit and the story can only get better I feel IMO.

I can go on but I?m not much of a typer,,, but I hope you get the gist of what I am trying to explain to you???

IMHO what really lacks here on HC forums is that while we can share a lot here via post, there is really a need where by members who live in their respective areas need to get together in person and share ideas and give support to the new investors/traders support that is needed to ensure that in the future are better educated to make them a much much better informed investor.

There nothing more effective that on the job learning and quality mentoring, they are available here but!!! not at the level that is needed.

AS for MEL,,,,, the story has only just started mate!!! I can honestly tell you that we will not realise value ?till around 2013-2014.

Take this for an exercise. Why is it that most people can justify spending $40-$80K on a vehicle that looses value the second you sign on the dotted line as well as the deprecating value add to that the running cost over years that follow and think nothing of it?????? Well???

But if somebody buys the same amount of value in a stock we screen blue murder overnight when the price dips below our purchase price????
It?s because of the internet, the internet can give us most what we are looking for via a search engine and so many times way too much questionable information that plays on our emotions.

When you can understand this then I feel you are then on the right path to make calculated, speculative but most importantly the right (irrespective of the swings) decisions to ensure you that in the years to come you will see you reap the rewards of sticking your neck out further that most feel comfortable with, that life is more of a character building exercise than anything else.

I wish you well

Regards