if an asset is losing value , it is better to find the bottom first
we clearly haven't found one and buying now is good if you do not care to lose several hundreds and plan to HODL anyways
The amount of people who successfully buy the absolute bottom approximates the number who sell the absolute top - perhaps 0.00001% of people who've ever traded.
People who settle on a price that is good enough do better than those who wait forever and get left behind convinced their target will eventually hit. We see that here constantly.
So true. I tried that and failed as well. Sold and waited for the dip to end, but it was up in an instant. To give you an example of how buying the bottom works:
You see a huge dip right now to $3000, do you buy or not? I guess not because you prefer to wait for a green candle.
A green candle appears and is small at the beginning, it takes the price back above the level of support, to 3300. Do you buy or not? Was that the bottom we were waiting for? Was that a capitulation candle? Is the $3000 confirmed? You decide to wait and 30 min later the candle is at 3500, and we never revisit 3000 again. You didn't buy the bottom.
That's why less than 1% of investors manage to do it and it's not worth trying. It's better to realize what price levels satisfy you and stick to these levels.
