My dad has been a gambler for over 60 years
When he passes a TAB some invisible force pulls him toward the door and his face lights up like a kid at xmas.
In my family my siblings still tease him that he has been in AU for over 50 years and hasnt learnt to speak English properly and when anyone asks how he gets by, we joke hes fine, he learnt TAB (technical analysis betting)
When he wins he is euphoric and he has won big a few times, once so much that he took the whole family on a European cruise for several weeks
His wins are dwarfed by his losses which over a lifetime are easily in the millions of dollars. A decade ago when his abilty to earn money began to diminish he finally did what all gamblers inevitably do, he sold the family home and all our land in Greece, that he swore he would never sell, at a terrible price and blew it all in under 2 years
He now has nothing left (from his perspective) and laments the thousands of trifectas and quadrellas that he missed by a nose, and without provocation spends every single family gathering trying to justify his life and decisions and rewrites his history in denial.
I share this little story because it repeatedly comes to mind when I read your posts, its your money and you are free to invest it as you choose, the question is are you investing it? Are you trying to validate you choices, save your ego, justify your strategy? IMO this is the reasoning and attitude of a gambler, and I know this mindset intimately. There are thousands of stocks to invest in on the ASX and tens of thousands more in other exchanges, your singular focus here is that of a gambler desperate to be validated, and the recent SP rise akin to the exhilaration of a big win re-inforcing poor trading strategies. Irrespective of whether you recover your losses here (and if you choose to continue to hold I hope you do and more) when I read your posts I feel like Im watching a gambler play with fire
I have accused you in a previous post of lacking humility, maybe you are too emotionally invested to feel the same humility I would feel if I had ramped a stock so hard for a year while it continued to find new lows month after month.
http://www.investopedia.com/articles/basics/10/investing-or-gambling.asp
