🔴 Subscribe for more free Stock Trading tips: https://www.youtube.com/channel/UCoSG43KFjTe0trsteSQ46Ng?view_as=subscriber?sub_confirmation=1 Have you ever been invested in a company that you really believe in, but the stock is coming down? Today I’ll cover this exact scenario and when you should average down. This is VERY important information — pay attention! Share this video with a fellow Trader: https://youtu.be/C-RDscZjnD4 ✅ Links I mention and recommend: Join Tim's Challenge here: https://bit.ly/2YypLyq Subscribe to my FREE weekly stock watchlist here: https://timsykeswatchlist.com/ ✅ Recommended video: https://youtu.be/IgTsEYzpPj0 ✅ Recommended playlists: Day Trading 101: Starter Videos: https://www.youtube.com/watch?v=sxhDIeYxNpE&list=PLTKUP0v0mxhvcNcP55fLthMRuTep2SGzY Advanced Day Trading Tips: https://www.youtube.com/playlist?list=PLTKUP0v0mxhsG4FCc4go7v4EOvyeNubJS My Millionaire Students – Are You Next?: https://www.youtube.com/playlist?list=PLTKUP0v0mxhtFSV2MDrpS6hziwptlpv4_ Trading with the Tims: https://www.youtube.com/playlist?list=PLTKUP0v0mxhvhVuORoUdAQ1yCAZ6RAI_R ✅ Follow Tim Sykes and his trading travels: Instagram: https://bit.ly/1Remh9f
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So when you should average down? This video is specifically for those of you in your first six months to few years of trading, depending on how much you study. Averaging down can work sometimes, but generally not enough to make it worth it. It usually leads to bigger problems. I think that's dangerous. For somebody with a small account, averaging down can be very dangerous. You want to trade like a sniper … take one shot. I'm don’t want to average into a position and then average out. If you have a small account, your goal is to make money on trades. Forget trying to maximize. You can try to maximize your profits later, after you’ve built up your experience and knowledge account. Big losses can happen when you get emotionally attached to a stock. You keep averaging down, then the company reports bad earnings, and it crashes even more. If a stock is going against you, there's something wrong with your thesis. Cut your losses. Get out! Remember, you don’t have to be aggressive on any stock. Don’t let the potential for damage creep up on you. Whether that’s damage to your monetary account, head, or confidence. It’s not worth it. Always follow rule number one: cut losses quickly. And don’t average down until you have enough money and experience to experiment. With experience, the game can get easier — more mechanical and less emotional. Don't set yourself up for failure. Take your time, study and stay disciplined. What’s your experience with averaging down? How does it mess with your mindset and emotions? Leave a comment below and let me know! #TimothySykes #Pennystocks #Investing —————————————————————————————————————-
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