Thought of the Day…

“Good traders understand that they will not be in every move. They wait for setups with which they are comfortable and confident. A strong stock that has moved well above a good risk/reward entry is left to run without them. For example, if a stock is trading in a range, breaks out, and you miss the buying opportunity, well, that is one mistake. But if out of frustration you buy that same stock well above the range, you chase it, well, now you
have made two mistakes. The first blunder will not cause trading losses (just an opportunity cost), but the second one will. Do not let one mistake cause another.”

– Mike Bellafiore

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