One thing I've learned from playing the stock market (with fictional money) is that I have no patience. For example, two days ago I bought stock XXX (ticker hidden so you won't do something stupid and go out and buy it) at 49. It drops to 47-something and I freak out. It had been upgraded to a buy rating, but the volatility was driving me nuts. So I waited until the price was at my original purchase price and sold the lot of shares one day after buying them. Now it's trading at 51.

NO PATIENCE.

The right time to buy a stock or ETF is exactly when you think you shouldn't. Over the past couple of days, everyone and their brother has been selling off commodities. They were hammered. It's against every rational cell in my body to buy gold, timber or silver right now. But buying something when it's popular and everyone else wants it is probably going to cause you to lose money.

This trading stuff is going to take some practice, until I develop a thick skin.