There's a new podcast out dated 17/10/2017 "Lose, Lose,...

There's a new podcast out dated 17/10/2017 "Lose, Lose, Lose...Win". Ray Barros talks about resilience, psychology and his many mistakes and losses (7 years of them, hundreds of thousands of dollars). He talks about how his wife had to support his family because he was losing money faster than she could make it, blowing his account over and over. My commiserations to MUS holders who have been stung and this podcast may be helpful to you today.

Jesse Stine who also lost everything time and time again says in his book: "Today I know an awful lot more about price targets, stock euphoria and parabolic chart patterns. I know all too well what takes place shortly after a euphoric parabolic run."
I don't hold MUS, but I am in a couple of lithium hopefuls that are flashing all signs of euphoria and parabolic run. Greed has me wanting to stay in, people posting of their 600% gains compared to my 140% has me wanting to stay in, but the pain of MUS holders today, and my own past pains from similar situations tells me it is time to take some money off the table, stop making comparisons, rein in my greed and be content.

Please be careful of "revenge trading" where you gamble in the hope of winning back your losses. The stock market is not much different to the casino. The odds are in the favour of the institutional investors. Managing emotion is as important as picking the right stocks, and any stock - even the blue chips can collapse.

More wisdom from Jesse Stine "Sell if you become a genius... everything you touch instantly turns to gold, confidence seeps from every pore. Your head becomes a weapon of mass delusion! I can't tell you how many times this has happened to me. These are precisely the moments when things can and do turn on dime. It is your responsibility to hone you Emotional Quotient (EQ) and be able to take a step back and recognise your heightened emotional states. When your emotional state reaches such altitudes, it is probably time to take some chips off the table and re-invest when things settle down". Such good advice.

Finally, Lifeline is there for ANYONE that is experiencing a crisis. It's not for people here to judge whether a monetary crisis ranks higher or lower than a family member being unwell. If anyone is feeling that they cannot cope, please reach out for help. A work colleague recently took his life due to his job becoming too much for him. Nobody had a clue and now his young children are without a Dad. It would be an absolute tragedy if this was to happen to anyone hurting from the MUS debacle.

Use MUS as a lesson to help you become a better trader/investor/speculator in the days to come. Or, you may decide the stock market is not for you anymore. That's OK too! Good luck to all