Don't feel so bad mate if it only took three bad experiences to learn not to average down. Some of us (including c'est moi) were slower learners. In years gone by, I've lost more averaging down than I have gained from buying more on the way up.Originally Posted by couta1
It's reverse psychology at play. Unfortunately, it is psychologically easier to buy at a price cheaper than yesterday than it is to buy at a price higher than yesterday...and yet that is how to minimise losses and maximise gains in this business.
Mastering our own temptations and other psychological baggage is half the battle in this game...which is why it's a great mechanism for getting to "know thyself "(Socrates)
BC
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