The other day, my friend recounted an incident, which I am also habitually guilty of committing. It was earnings release day for the local banks (DBS, UOB and OCBC). Both DBS and OCBC beat Bloomberg consensus, and their stock prices rose on market open. UOB missed consensus, and its stock price tanked. My friend decided to go long on UOB. He submitted a Buy order at a Limit Price of $29.00. UOB stock price declined to as low as $29.20 and rebounced, ending the day at $29.99. My friend missed his chance. It is a common phenomenon. We decided to trade, made the choice on a price, put in the order and...missed. Sometimes, it is a blessing in disguise as we get a better price the following day. But other times, the stock follows a V-shaped trajectory and soars away. It makes me wonder: since we have already arrived at a trade decision, why do we get so fixated...