This video was very very helpful. Thank you so much. I honestly have benefited from averaging down so much that I find it hard to find reasons not to do it…especially since the stock market has always gone up over the time it has existed and so if I study the company a bit, it’s easier to ignore volatility due to day/swing traders. But I have had to be ok with leaving my money tied up for longer periods of time in some cases and the time required has only been reduced by averaging down. But lately I’ve been option trading and have found myself doing the same thing. Bad Idea. So I’m looking to ‘rewire’ my brain to just avoid averaging down and setting stop-losses instead. It’s just harder to do and requires more planning…also a good habit to form :). Thanks again! I think I may listen to your video every day before the market opens!
You cannot do this during a market crash or or large timeframes. Theres a chance the price will never come back. If the price comes back then youre good.