Investing your money in worthwhile ventures and investment vehicles is a worthwhile pursuit. The desire to see your money grow and to secure your financial future is normal and encouraged in most cultures. Is investing turning into something that is out of control? Is your pursuit to leverage your savings to make more money turning into an addiction that borders on something unhealthy?
The rush of having an investment pay off is exhilarating. The adrenaline rush that you get when you cash out along with all the other emotions that go along with seeing an investment through to its conclusion can be addictive. The nervousness of your entry into the market gets your heart beating. Your nervousness as you watch your investment by the hour and then the thrill when you see your money literally growing can rival any thrill imaginable in this world.
Allowing these emotions to grab hold of us and begin to rule us can happen very quickly if we're not careful. The mistake many of us make is to believe that if we make money in an investment then we are a winner. Likewise, it's tempting to feel that if an investment turns on us and we lose money then we are the opposite of a winner or a loser. This can lead us to chase those positive emotions and make poor decisions when it comes to investing in hope of not feeling like a loser. This is where the addiction begins.
It's tempting to check the status of your investments. You're curious. You want to see how things are going. You want to know if you made the right choice on an investment. On the other hand, if you find yourself checking your accounts and your mood changes depending upon if your investment has improved or not then you might have a problem. Once you have committed to the investment, set everything in place as far as sell order and stops then there is no need to check on your investment more than once or twice a day. Your time could be better spend doing something else or even researching other investments that might interest you.
Do you find yourself constantly looking for an edge or tips for hot stocks? This kind of behavior is similar to what goes on at a race track, wouldn't you agree? While searching for an good investment and being an educated investor is wise, looking for underground news or tips on what is going to happen in your chosen market are signs that something is wrong. That feverish feeling overcomes you and you simply must find a winner. You are willing to do anything. You subscribe to clubs and mailing lists to find that sure thing and you chase that rush.
Most of us have one or two investment types that we prefer. We all have a knack for picking stocks, a feel for a certain currency pair or we enjoy investing in companies that we know a little bit about. If you find yourself chasing after profit and trying many different types of investments because someone told you that they know this particular investment is going to pay off then you might have a problem. Stick to investments that you enjoy learning about. Venturing off into uncharted territory when money is at stake is an unwise investment no matter where your information came from.
A sure sign that you have an addiction or problem with investing is using money for your portfolio that is intended for bills or savings. Many lives have been ruined as an investor attempts to recoup losses or buy into a sure thing as the addictive behavior progresses. Not telling your spouse or partner about what is going on financially and hoping that you can get the money that you lost back before they notice is a recipe for disaster. Lying is never good and lying about money to your partner, even by not telling them what is going on, will cause you to lose more than just money in your life. You will lose the love and respect of the one person you should trust the most.
If any of these points strike home for you then you are encouraged to take a closer look at what you are doing with your investment activity. While it is a pleasant experience to make money through investing, it should never be something that is addictive or that you chase after. There are plenty of opportunities out there in investment vehicles that you are interested in. Learning about investing can be fun but chasing after money is always a bad move in investing.
The rush of having an investment pay off is exhilarating. The adrenaline rush that you get when you cash out along with all the other emotions that go along with seeing an investment through to its conclusion can be addictive. The nervousness of your entry into the market gets your heart beating. Your nervousness as you watch your investment by the hour and then the thrill when you see your money literally growing can rival any thrill imaginable in this world.
Allowing these emotions to grab hold of us and begin to rule us can happen very quickly if we're not careful. The mistake many of us make is to believe that if we make money in an investment then we are a winner. Likewise, it's tempting to feel that if an investment turns on us and we lose money then we are the opposite of a winner or a loser. This can lead us to chase those positive emotions and make poor decisions when it comes to investing in hope of not feeling like a loser. This is where the addiction begins.
It's tempting to check the status of your investments. You're curious. You want to see how things are going. You want to know if you made the right choice on an investment. On the other hand, if you find yourself checking your accounts and your mood changes depending upon if your investment has improved or not then you might have a problem. Once you have committed to the investment, set everything in place as far as sell order and stops then there is no need to check on your investment more than once or twice a day. Your time could be better spend doing something else or even researching other investments that might interest you.
Do you find yourself constantly looking for an edge or tips for hot stocks? This kind of behavior is similar to what goes on at a race track, wouldn't you agree? While searching for an good investment and being an educated investor is wise, looking for underground news or tips on what is going to happen in your chosen market are signs that something is wrong. That feverish feeling overcomes you and you simply must find a winner. You are willing to do anything. You subscribe to clubs and mailing lists to find that sure thing and you chase that rush.
Most of us have one or two investment types that we prefer. We all have a knack for picking stocks, a feel for a certain currency pair or we enjoy investing in companies that we know a little bit about. If you find yourself chasing after profit and trying many different types of investments because someone told you that they know this particular investment is going to pay off then you might have a problem. Stick to investments that you enjoy learning about. Venturing off into uncharted territory when money is at stake is an unwise investment no matter where your information came from.
A sure sign that you have an addiction or problem with investing is using money for your portfolio that is intended for bills or savings. Many lives have been ruined as an investor attempts to recoup losses or buy into a sure thing as the addictive behavior progresses. Not telling your spouse or partner about what is going on financially and hoping that you can get the money that you lost back before they notice is a recipe for disaster. Lying is never good and lying about money to your partner, even by not telling them what is going on, will cause you to lose more than just money in your life. You will lose the love and respect of the one person you should trust the most.
If any of these points strike home for you then you are encouraged to take a closer look at what you are doing with your investment activity. While it is a pleasant experience to make money through investing, it should never be something that is addictive or that you chase after. There are plenty of opportunities out there in investment vehicles that you are interested in. Learning about investing can be fun but chasing after money is always a bad move in investing.
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