Why Do People Buy At A Top?

If you understand why people buy at a top, could you share it?

 

Read "The Soros Lectures at the Central European University", available on Amazon.

 

Because it's the most funnest way to buy.

 

They don't know that it IS a top.

 

Because they think it's going higher, maybe a lot higher.
Someone who bought a seemingly high TSLA at $100 has been rewarded.
Same for those who bought seemingly high AMZN @ $200.

 

Buying new highs with a proper money and trade management is a profitable trend following strategy.

 

Short pain buys tops.

 

I don't understand this question. There ALWAYS has to be someone buying what eventually becomes a "top". Never in history has a top been put in without SOMEONE buying it. Same goes for those who sell a bottom.

 

How would knowing this factor into your trading strategy?