1. Whenever one thinks “I must rush to get in,” chances are the rush will be paid by waiting.
2. Whenever one thinks “This is a nice profit, but I should hold for more,” there is a good chance that it is a swell time to take profits.
3. Pairs trades provide duration; they keep the main trade alive by alleviating the anguish of large(r) draw downs. But for this benefit, one must often pay by waiting.
4. Waiting is paying for taking.