Originally published by Chamber of Merchants
"The Patron" is a new series by Chamber of Merchants that follows a beginner investor trying to turn $10,000 in to $20,000 in less than a year. Click here to read The Patron's first post.
I used to laugh at the scene in Wolf of Wall Street, where Jordan Belfort started his first day and the market crashed. My laugh is softer now as that was before I started to put money into buying shares and before I took an interest in the stock markets.
The stock market is in week 2 of a consecutive weekly decline! I see red everywhere and I begin to think that my timing of entering into the ASX (just before the USA elections) could have been better…but I guess it makes it all very interesting.
I’m no Jordan Belfort & I don’t believe I want to be, however I am like you and everyone else when it comes to the financial news…And currently, it isn’t good. I feel anxious and nervous…I begin to feel the urge to do something so I can save my money! If I do nothing, then I could suffer a huge loss perhaps?
I’ve positioned myself in precious metals and the advice is to do nothing for now (while all this commotion is going on). Just do nothing.
Do nothing.
This is difficult I find, as people think you’re trading, you’re going to do something and you should be making money!
Now the anxiety kicks in.
When I feel anxious and nervous I tend to talk it out, and vocally try to reason. Conversation once again is a great tool here, especially with someone who is also interested in the same topic and field.
My thoughts can be likened to a rabbit, darting from the danger that chases it…except this darting around is not good for my nervousness and will only make me more anxious.
“Now the anxiety kicks in.”
Structure and order, combined with common sense and some logic always helps me to grip reality and to remain calm.
When you speak to someone about your thoughts, it allows you to hear yourself and perhaps even pick up on the chaos that lives inside.
After much conversation and thought, I am taking the advice literally and have headed on a short vacation with my loving wife! The view is stunning, food is good and the ocean inviting…not a care in the world as I leave my routine behind me.
I wonder what will happen Tuesday.
Yours Faithfully
The Patron