Secret 78YOU CAN BUY THE WORLD FOR 1/8

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“You can buy the world for 1/8.” is an old Wall Street adage

which means that investors will lose a major opportunity by

not being willing to pay 1/8 of a point more to get their trades

off.

Today stocks and stock options are not quoted in fractions

anymore, but rather decimals, yet the same rule applies. Don’t

chase after option prices, but be willing to pay an extra .10 ($10)

or .15 ($15) to enter a trade if you have a really good opportunity.

In other words, be more flexible in trying to get a good price for

your trade. In the past I have lost some good opportunities by

being too inflexible in my trading.

Of course, there are times that you must get out of a position,

especially if you are a naked writer. You can try to get a good

price for a minute or two, but then you must pay whatever the

market will bear.

“You can buy the world for 1/8.” is an old Wall Street adage

which means that investors will lose a major opportunity by

not being willing to pay 1/8 of a point more to get their trades

off.

Today stocks and stock options are not quoted in fractions

anymore, but rather decimals, yet the same rule applies. Don’t

chase after option prices, but be willing to pay an extra .10 ($10)

or .15 ($15) to enter a trade if you have a really good opportunity.

In other words, be more flexible in trying to get a good price for

your trade. In the past I have lost some good opportunities by

being too inflexible in my trading.

Of course, there are times that you must get out of a position,

especially if you are a naked writer. You can try to get a good

price for a minute or two, but then you must pay whatever the

market will bear.