Buffets are great, right? You can get a taste of everything OR you can devour the same thing endlessly. The only limit is how much you can possibly eat.
In college I went to a China Buffett after drinking. The food was clearly old, but I said screw it. I was drunk, starving and desperate to eat myself to sobriety. Needless to say it was a bad choice. I got food poisoning and proceeded to be sick for the next day and a half.
Markets are a lot like buffets. There’s an endless selection and you have choices to make with your capital.
Very few people go into trading thinking they have to trade every day or constantly make moves. At the same time, nobody wants to miss out and slow things down in the middle of a roaring bull market? There’s an incredibly strong allure to take action.
However, this buffet never closes and keeps serving up fresh dishes. You only eat what you want, when you want to.
So it comes down to standards. The question is, are you going to be desperate and eat old food past it’s prime? Or are you going to wait for when the fresh food is served? It’s up to you, but fresh is always better.