You Want It All “Cheap”?

You want it all “cheap”?

No.

Wrong way to think.

For example, if you enter a market at price level 50 and it goes to 100, does it really make a difference whether you got in at 52 or 60 or 70? Even if you got in at 70 and the market went to 100, you still made a lot, right? There are plenty of traders out there who think: “Oh, I couldn’t get in at 52, so I won’t get in at all.” Even if you had the chance to get in at 70 on a market that eventually goes to 100, some sit on the sidelines still dreaming of buying ‘cheap’!

Filed under Psychology, Trading 101