Took a good size hit on this one, even after averaging down. I'm out, another lesson learned, I'm a lousy investor, much better at trading.
Ehhh, just part of the game, should have set stops. Another learning lesson, sometimes a black eye helps clear my vision.. LOL.
I don't follow this one but post this for info Canada Oil Sands Likely to See More Chinese Investment https://finance.yahoo.com/news/canada-oil-sands-likely-see-204008601.html Marathon Oil (MRO) Down 7.6% Since Earnings Report: Can It Rebound? ZacksJune 8, 2017 https://finance.yahoo.com/news/marathon-oil-mro-down-7-105810297.html drop well why? and that 12.04 support will it hold? it seems to do it on Friday bounced to 12.54 and closed there ... still plenty institutions hold it....... then you decided + DD
Hiya @Timbo hope your vision will be clearer now ..... I never add going down ... one is already lose why adding more but that is JMO take care
Advice well taken, THANKS.. Chased the falling knife but used it as a good example of what not to do. If someone can learn from my mistake, then it was worth it,which is what this forum is about.
Averaging down can be useful, but not to chase losses in my opinion. It's more useful when there's a few levels of support coming up where you think the bounce could happen. Buying in tiers might be a more accurate portrayal of what I'm trying to describe though. @Tiptopptrader did this regularly. If you think there's 3 different levels of support where you could see a bounce, you could always buy 1/3rd of the position at the first time you think you'll see a bounce, then "average down" and buy the 2nd tier at the next level of support, etc. That's when I find "averaging down" a great tactic. Like you said though, trying to catch the falling knife will usually just make you bleed.
