On... Air Fares and Trading
My wife was shopping for air tickets recently and she told me what she was going through and she asked me, "Should I take the risk?" Little did I know, shopping for air tickets and investing/trading has a lot of similarities. In fact, I told her she sounded like a stock investor. "Should I take the risk?" is something that I ask myself daily. A little background on what actually happened. She was planning for a holiday next year and was thinking of visiting Taiwan. Apparently, she was scrolling though the different dates and came upon an unbelievable deal. It was only during a certain travel period, so she started following the price and sales. Since the travel period is still sometime away, it is a risk to buy now in case she can't get time off. Here I want to discuss two similarities/lessons with trading and things that I have to go through everyday as a trader. First similarity/lesson - Prices change and you need to keep your eye on the ball. Just like the ai...