Yeah I had that problem with FMG a few years ago. Wanted to buy $40k @ 57.5 cents & was in the no 1 position, but some dirty rotten scoundrels kept buying up at 58c... Well I taught them. I pulled my buy order & looked elsewhere...:) Won't make that same mistake again (ever)./.
Yes, I learnt that one too, which is why I now either buy at the ask, or stay away. Rarely seen in any depth queue. I convinced myself that buying below recent high is actually buying in to a downtrend, which is anathema to my thinking.
The way I look at it is either I am convinced strongly that the company is a buy, or not. If it is, bid up and buy, if its not, stay away.
I've been operating this way now for some time with good success. I know many will disagree, and I'm not trying to convince anyone. The only ones who will beleive me are people like MG.
SDL Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
