Sadly, one’s spouse is the butt of many jokes in life.
However, at the outset, I wish to make it very clear, that this piece is not about a joke at the cost of my beloved spouse, who, by the way doesn’t even fall under the N-word category.
Having gotten that out of the way, what kind of nag are we talking about.
This one’s almost a constant, and starts off as soon as your money goes on the line.
At first it’s a tug.
What are the markets doing?
How is your holding faring?
Let’s have a look.
Come on, come on…
The tug is very compelling.
You have a look.
You see that your holding is taking a hit.
There is disappointment.
You shut your terminal in disgust.
You’re trying to do other stuff, to divert your mind, but your mind keeps flowing back to the status of your holding.
The tug has become a nag.
This is the nag we’re talking about.
We wish to outline a strategy which takes the nag out of your way.
So, how does one deal with the nag?
It will be there. However it won’t be in your way. How do we create this condition?
If you can manage by ignoring, that’s just great. This might not work though. Nag-value mostly defeats ignoring power.
Enter small each time. You will take away greatly from the nag-factor. It won’t hit you as much. You will me waiting to enter again, small of course, in the event that your holding has fallen. This is long-term investing we’re talking about. You’ve done your due diligence, and are not afraid to repurchase umpteen times as long as you’re getting margin of safety. Re-entry upon a fall in price of the underlying does not work while trading. In fact, re-entry upon a fall while trading is a strict no-no. You exit your trade if the fall goes through your stop-loss. You don’t re-enter. However, the small entry quantum during long-term investing goes a long way in reducing the nag factor.
How do we wash away what’s left of the factor?
Do many market activities, as in, play multiple markets. After you’re done with one market, forget about it and move on to another. Mind will genuinely be distracted. Nag value will be further reduced, and greatly. However, it will still be there, minutely.
Once you are done with all your markets, close your connection to them for the rest of the day, and only open the connection during the next market session, and that too upon requirement only. Meanwhile, you’re doing other stuff. Life has so much to offer. All remnant nag will be washed under the rug.
You need to now just hold it together and resist the lure of a nudge in your mind to see how the markets closed, or any similar urge. You’re done for the day, and don’t you forget it. Don’t fall back into the trap, or the rest of your day (and perhaps your night too) would be ruined. Ask yourself if that would be worth it. No? Then move on. Enjoy the rest of your day doing other stuff.
You’re done already!