I’ve seen you mention the phrase “cost average your way down” quite a few times Wally when these coins have fallen in value.
Just to make sure I understand you correctly here, what you are saying is “when the price goes down, put more money in” - right?
And just to clarify further, you can only reduce your average cost if you’re buying in at a price lower than your current weighted average entry price, which means you already have a net loss making position and you are advising putting more money in?
Nowt gets past you CJ.
I prefer to look at it slightly different terms - ’If your reason for investing hasn’t changed, a price drop shouldn’t concern you and you should take advantage of that’
In this specific case, I invested in Ethereum because I researched it and I believe in blockchain technology, the ethereum project and it’s future planned updates. Is it going to go bankrupt and cease to exist? Pretty unlikely I would say so being patient and buying the dip is a winner imo. ‘Time in the market beats timing the market’ as they say.
I’ve been investing for long enough that being in the red doesn’t phase me.
Wally The kind of “technical” analysis is a load of bollocks. The pattern is nearly always matched and pointed out in retrospect.
You’re better off asking Russell Grant for a prediction.
I dunno, I find it hard to discount the idea that institutional investors haven’t developed a system over the years to extract the maximum amount of cash from suckers and would use it for a relatively new asset class.
Having said that, I’m not sold on technical analysis as a way to trade either but then this chart comparison isn’t technical analysis.
Matic getting hit a little now but has been on a great run, it supports ETH so I think I will stick with it 5 dollars is possible by end of year.
And the whole market has just dropped 20% or so. Jeez.
Ok. Thanks for clarifying Wally.
I do agree with you to some extent; if you remain convinced of an investment case it’s better to buy more at a cheaper price rather than crystallise losses. The caveat to that of course being that it’s a pretty high conviction/ high risk strategy and you end up concentrating your position even further which hurts you from a diversification perspective.
you pays your money you takes your choice, as Mark Kermode is fond of saying…..
I am now the proud owner of 9.7m Shiba. When these hit £40k each I’m going to buy everyone a drink at Bedrock.
Inclined to agree with this.
mono-stereo or a blow job. The hamster-faced, sweaty gaylord chubster. Always preferred Justin Toper.
Holy moly even s&p getting hit.
All going Pete Tong now - Coinbase is down.
But the dips.
Binance preventing trading too. I’m trying to buy more Shiba and it won’t let me. It absolutely reeks. Wouldn’t surprise me if it is freezing people out so only a select few can buy when the prices are low. My overall wallet is bouncing back up
Inflation fear + HF market manipulation = fire sale
JFC - Ethereum has bounced down and back up 500 quid a coin twice today already. My heart!
Averaging does not make sense. I’d rather lose an average of £1 per share on 10 shares than £0.50 per share on 30 shares.
Seems pretty clear you simply can’t trust any of these platforms.
