Monday, March 2, 2009

Chasing prices

Rather frequently, this happens to me.

I spy a trade that i want to get in on. I'm convinced that i definitely want to be in it, but the prices are slightly off my 'target' entry. What i do is i put down a position and wait.

On a day like this however, where a significant event is occurring (plumbing new lows), i'm hesitating to enter at a lower price, but my conscience tells me i'm a little fool cause i'm being penny wise pound foolish.

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