The DCA illusion

Dollar-cost averaging spreads buys over time so your average entry sits below a falling price. That feels like winning — but a lower average is not profit, it is a lower break-even. The only honest number is the realized P/L: what you would actually bank if you sold right now (current value − total invested). Averaging down can make sense, but know the difference between "my average looks good" and "I made money." Then size new buys with the position size calculator.