No. of Recommendations: 2
In the hustle and bustle of the investing world, reading through 10-K's and checking up on investments, it's all too easy to slip up on your priorities. I learned this the hard way.

I'm absolutely sold on a particular tech company, with whom I am very familiar. After I put some spare cash into a few shares initially, the company geared up for a major new release of their flagship product. I figured that the stock was sure to spike, so I took some money that I was going to invest in another company and more than doubled my investment in this tech firm.

Do you see the two fallacies? First, I tried to predict the market, confident that the market would react the way I expected it to react. Secondly, I used money that I had set aside for another purpose. Neither particularly good ideas. So, what happened?

I bought the stock at $20. It's now at $4.

Now, I'm still confident that this company will do well over the long haul. I'm going to stay invested in it for quite a long time. Unfortunately, in confusing my long-term investments with a desire for short-term gains, I sacrificed a lot of money that I could have put to other use.

What have I learned? I've recommitted myself to sticking with my investment plans. It's not worthwhile to deviate from your plans just because you see what looks like a "good deal;" there is no such thing as a sure thing in the stock market.

And I knew that before. But now I know it.
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