I am in this mental hurdle that i find myself in sometimes and i'd like your feedback on how to overcome it and or maybe how you've dealt with some of your hurdles. Mine is a simple one, i find myself waiting to purchase a stock because i keep thinking to myself i may get it lower, but then i lose my opportunity because i've waited too long. It doesn't happen often, but it does and its happening right now. Here is my scenario:
I have been wanting to get into GoldCorp (G) for a while now and have done all my research and so forth and i am comfortable in owning it. It's not the actual purchase of the stock that is scaring me. Now that its dropped below my price point (which was 45) i want to get in. But now i find myself saying...well...maybe i should wait till it goes to 43 or 42? I know gold stocks aren't for the faint of heart, but is there any tricks to remove that mindset? I did the same thing on BMO a while back and got burned by that reboud as well. I should stick to my price points, but when the stock drops below my price points, i find myself waiting and losing my opportunity.
This doesn't happen often...but now that i think of it, for some reason i only have this issue with BMO and G in particular.