Hey people,
I was reading a (non-forex related) book last night, and there was a nice story in there, which reminded me of something that is actually related to forex.
Once upon a time there was a burglar. Before this burglar broke into a building, he studied the building carefully. He then made a plan, and gave himself a timeframe within which he should leave the building, as the expected risk of getting caught when staying inside longer would become too large.
One day he broke into a building that he gave himself a 5 minute timeframe for. As the deadline approached, he walked down to the exit. On his way there, he peaked inside one more room, and saw a huge diamond there. This diamond had to be very expensive, but grabbing it would take 10 more seconds and the theft would then exceed 5 minutes.
What did he do?
Maybe this is a familiar story for some, but yesterday was the first time I heard of it.
I was reading a (non-forex related) book last night, and there was a nice story in there, which reminded me of something that is actually related to forex.
Once upon a time there was a burglar. Before this burglar broke into a building, he studied the building carefully. He then made a plan, and gave himself a timeframe within which he should leave the building, as the expected risk of getting caught when staying inside longer would become too large.
One day he broke into a building that he gave himself a 5 minute timeframe for. As the deadline approached, he walked down to the exit. On his way there, he peaked inside one more room, and saw a huge diamond there. This diamond had to be very expensive, but grabbing it would take 10 more seconds and the theft would then exceed 5 minutes.
What did he do?
Maybe this is a familiar story for some, but yesterday was the first time I heard of it.
The nail that sticks out gets hammered back in