There is a feeling, when you’ve made an investment and its working, that you are investing with the “market’s” money, or profit. You start to feel good, confident, you make better decisions, and think less emotionally.
The trouble is, the exact opposite seems to occur when you start to lose.
The initial thought, “it will bounce back”, is replaced with “overall i’m up”, to — sometimes, lets average down (buy more at a lower price).
The mental games we play with ourselves when losing can be extreme. We would generally be happier selling a winner…