Dollar Cost Average vs DaytradingYou can Google the subject line above and fine YouTube videos that cover the topic.
Long story short, all investment strategies require the individual set a budget. Mine are set each year and I decide which sectors and which stocks I will continue in with and which I will take profits on.
My timelines are much longer than swingtraders so I am more than willing to carry a stock that's in the red for me as long as my research points to it being worthwhile.
My research does not include taking it for granted that a basher or a pumper on a stock forum is correct, i do my own research. If a topic arises on a forum that catches my attention then I dig into it to confirm how accurate it is.
Anyhow "time in the market" tends to beat "timing the market" this doesn't mean you wouldn't still need to be Uber patient and ride out down days, it just means if you pick a grossly undervalued stock with big potential you have a much better chance of exiting later at a decent profit.
As noted, there are good YouTube videos covering "dollar cost averaging investment strategies"
GLTA