View Full Version : Dollar cost average buying on the way down
09-22-2011, 03:21 PM
For every $1. silver drops, I'm in buying more!!! Got me two loads; one @ $37 and one @ $36..waiting for $35. This is funtastic!
09-22-2011, 04:36 PM
Sounds like a negative progression betting strategy known as the martingale, in which one doubles their bet after every loss, thereby winning their money back after the inevitable win finally comes (uptrend).
Anyway, enough of my BS. I've always recommended dollar cost averaging. It would have helped many people who blew their whole wallet a week ago at $42.00. Though if silver jumps to 100 tomorrow, DCA is obviously not the best strategy.
DCA on "the way down" seems like the safest strategy. DCA on "the way up" is safe, but not the most profitable. I always DCA though, just to get a good middle point price. This should prove to be fine in the long term.
Keep it up!
09-22-2011, 04:38 PM
I agree. Got some today and will double down tomorrow if I feel it's right to do so.
09-22-2011, 04:42 PM
I will say to you what I said to a poster in another thread: I hope you're wearing kevlar gloves :D
(I plan on doing the same, just with extreme caution.)