For some people, playing the financial markets is a little like flying.  If the flight goes smoothly, you're relaxed enough to calmly munch peanuts and sip soft drinks.  But hit turbulence or an  air pocket, and it's white knuckles and straight bourbon -  or maybe an airsick bag - the rest of the way.  Although the odds are against it, a  crash is always in the back of your mind.

Whether playing the markets or flying the friendly skies, you must master your emotions if you are to succeed, not to mention survive.  Internet chat rooms like the The Silicon Investor  offer a fascinating insight into the irrational emotions of many investors.  Woe  unto those relatively prudent souls that attempt to deflate the rags-to-riches dreams of these participants with a bit of healthily skepticism:  "Why are you on  this thread?  Why don't you just slither away?" or "What is your real purpose here?  Are you a short seller?"  Or this rose-colored view:  "I've been a shareholder [in XYZ Corp.] for over a year, and I truly believe I will be rewarded...and the world itself will be rewarded fro [XYZ's] technology."

These are the words of persons ready, willing and able to lose their shirts.  Do they sound like someone you know?  Do they sound like you?

How can you control your emotions?  Do what one might do to overcome a fear of flying.  First, read everything available to find about how planes fly.  You'll probably conclude that a big commercial jetliner with big engines is pretty darn safe.  Then, you might decide to fly only on large commercial planes.  No commuters...and definitely no mistakes.

In a similar manner, try studying the nature of the financial markets - how fluctuations are normal, how supply and demand is like the air that lifts the wings of airplanes.  Analyze the fundamentals of individual companies so thoroughly that you stack the odds in favor of a smooth flight.

The same logical, deliberate steps one might take to overcome the fear of flying may be applied to overcome investment emotions.

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