dchua1969

Wait for price to come to you

Long
NASDAQ:FINX   Global X FinTech ETF
Yes, I know it is not easy to control yourself like when you are in a mall looking at all those lovely things you want to buy off the shelves.

But is the price at a discount ? Then, you worried , what if this bag runs out of stock? What if the price goes up some more ? Now, handbags at retail malls are unlikely to go up in prices once it hit the stores (unless limited editions) but run out of stock is more likely.

Not so for the stock market - the chances of not able to get hold of the stock is lower. But price may continue to run up from where it was. That itself is a fear that many retail traders/investors have and they do not want to miss the party.

So you chased the high and he chased the high and the sellers made a profit out of you. Fair game , I say........

Exercise a bit more control on yourself, wait for it , it would come down as shown in this chart and spread your bet into 3 lots so that by averaging down , you get it at a cheaper price than going all in at the first price.