@Colflan and @reddogaustin I too have had this problem, many times.

Psychology is so important and investing brings up psychological challenges constantly.

There is always a test around the corner.

Putting it out here on Strawman is a great way to get a little accountability.

Keep your wits about you.

Keep on truckin

@Arizona I'm currently reading Thinking, fast and slow by Daniel Kahneman.

A great book about psychology of decision making. Our brains have a fast and slow method for decision making. The fast is suitable for many things, one of which is not investment decisions. The trick to learn, I've learned from the book, is to engage your slow thinking part of brain for investment related decisions... more deliberate and rational, less emotional, etc.

Sounds easy... but is it?

@reddogaustin I thoroughly agree with this. Personally, it has been one of the toughest things I've had to work on over the years.

Slow thinking is all about the process of identifying what you want to invest in (and not), your thesis, valuation, entry point, and exit criteria. However, sometimes the market presents opportunities to enter or exit at a favourable price and here you have to engage both "fast" and "slow" thinking together.

With all the noise in the market on a day-to-day basis, its really easy to get sucked into a fast thinking, reactive mode as a default.

Kahneman's work is amazing, and a great resource for life and certainly for investing. A worthy Nobel Laureate.

Guilty here too! Averaging up -- if that's what you want to call it -- is extremely difficult.

As for the fast/slow thinking issue, one thing I try and do is try and sleep on any trade decision. ie. Once i've decided to buy or sell something, I try and give it at least one day before I action the trade -- just to make sure i'm not being too reactive. Not always sensible if there is material and urgent news, but 99% of the time that's not the case. Really, I should make it a one week rule.

@Colflan I suspect we will get another spiffy pop today. A $90m data centre contract...wow!

@reddogaustin I havent read the book. I have heard of it and the idea.

Is it easy you ask: I don't find it easy.

Part of the attraction of investing for me is the mind work that is needed.

I mean there ways of thinking that need to be mastered.

Emotions that need to be kept in check.

Learning happens one way or another and it can be related back to life in general.

One really has to learn about yourself.

I am grateful to the Strawman community assisting with the learning

Onward and upward

Spot on @Wini! A positive outcome indeed.

BTW, I really enjoyed your chat with Andrew last week. Your comments around portfolio weighting/construction resonated with me, big thanks for taking the time to share your thoughts with the community, it's much appreciated.