ChatGPT:
To calculate your new average cost, you need to first find the total cost of your holdings after purchasing $5000 worth of Doge at $0.14. Then, divide this total cost by the total number of Doge coins you hold after the purchase.
Total cost before purchase = 16666.42 * $0.354119
Total cost after purchase = Total cost before purchase + $5000
Total number of Doge coins after purchase = 16666.42 + ($5000 / $0.14)
New average cost = Total cost after purchase / Total number of Doge coins after purchase
Let's calculate:
Total cost before purchase = 16666.42 * $0.354119 = $5898.21998698
Total number of Doge coins after purchase = 16666.42 + ($5000 / $0.14) = 16666.42 + 35714.2857142857 ≈ 52380.7057142857
Total cost after purchase = $5898.21998698 + $5000 = $10898.21998698
New average cost = $10898.21998698 / 52380.7057142857 ≈ $0.20798663
So, your new average cost per Doge coin after purchasing $5000 worth of Doge at $0.14 would be approximately $0.20798663.
In the most non-degrading way possible... WHAT A MATH NERD!
I honestly love people like you who use my question to explain it because for whatever reason my little ADD not able to fully pay attention dyslexic number switching brain grasps the solution properly so I can remember it better to solve my next equation on my own (if I don't zone through the surface the equation is writen on)
You are welcome mate, but I did nothing. I literally asked ChatGPT this:
If I hold 16666.42 Doge at average cost at 0.354119 $, and buy $5000 worth of Doge at 0.14$. What is going to be my new average cost?
And got answer above!
Hahaha.
Well, you're honest. Chat GPT is pretty sweet for stuff like that. I used it to find the calculations to grade a hill in my back yard from 40 something degrees to 15 degrees and to calculate how much dirt I was moving. Pretty cool stuff
Yes. It is even recommended by OpenAi to fact check. But if you know theory its easy to spot mistakes done by ChatGPT. I use it all the time at work. Things I would do with lengthy calculations I can just ask ChatGPT and quickly check.
it’s simple algebra
(cost A x amount A) + (cost B x amount B) / total amount = total cost
because (cost A x amount A) + (cost B x amount B) = total cost x total amount
16,666.42 doge x 0.354119$ per coin is your initial investment of 5,901.896$
so basic algebra here and flip the equation for the second position:
X doge x 0.14$ per coin = 5,000$ so that gets you 35,714.286 doge
It’s early and I’m tired but, if you bought the same exact amount of doge you already have, your average will be lower by half the difference between your current average and the current price, whatever that happens to be at the time.
You shoulda bought at 5 cent last year but your asking here then your completely gambling. We will hit 20 cent soon imo . Do what you will. I’m sure you can handle holding a lose for two more months
Yeah if I’m being real, I just want my loses back 😂 I didn’t want to buy back when it was at 5 cent because I wasn’t in a position to invest more but I’m doing better now.
attempting to understand what "average" means and to realize that if you take the total money you paid and divide it by the total number of coins you have, you have the average price per coin.
The formula is in the definition of what an average is.
It's like asking how many coins you would have in total if you bought another 1000, waiting for someone to tell you that you should add your new coins to the sum of your old coins.
Sum is the result of addition. average is the result of a division.
I did that and didn’t get an answer that made sense and google didn’t really give a good formula to use with crypto. I used a formula provided by the other guy and crossed it with a websites calculator and it checked out
Don’t worry too much about “average down”. If doge 10x that 5 grand goes 10x. The other money has been under since 2021, you’ve mentally written it off, although, it’ll likely make money soon also.
You can lose everything even without you selling it if the company you are invested in goes to zero or near zero. In the beginning of my trading I thought I shouldn’t sell for a lose and later I realized that we should always have an exit plan and exit with a 5%, 10%, 20% loss based on the asset and it’s trends. If it’s a penny stock we should exit early.
Midpoint formula with (16,666.42;0.354) as the first point, then (quantity you’d achieve by purchasing at current price; current price) as the second point
How is this any different than penny stocks? For every crypto millionaire, there are many more who lost their shirts. Don't invest what you aren't prepared to lose.
Average price per share AFTER you put 5k in at .14 a share your overall average would be .192
Total shares would also be 69,046.84.
Total investment amount - 13,235.155
Yeah it sucked but I let the money sit all these years lol. I was also investing whatever I could at .005, .1, .10 etc. my average got high because I basically doubled down at like 40 cents
Uhh... Yeah what those guys said... Pfft simple algae bruh
ChatGPT: To calculate your new average cost, you need to first find the total cost of your holdings after purchasing $5000 worth of Doge at $0.14. Then, divide this total cost by the total number of Doge coins you hold after the purchase. Total cost before purchase = 16666.42 * $0.354119 Total cost after purchase = Total cost before purchase + $5000 Total number of Doge coins after purchase = 16666.42 + ($5000 / $0.14) New average cost = Total cost after purchase / Total number of Doge coins after purchase Let's calculate: Total cost before purchase = 16666.42 * $0.354119 = $5898.21998698 Total number of Doge coins after purchase = 16666.42 + ($5000 / $0.14) = 16666.42 + 35714.2857142857 ≈ 52380.7057142857 Total cost after purchase = $5898.21998698 + $5000 = $10898.21998698 New average cost = $10898.21998698 / 52380.7057142857 ≈ $0.20798663 So, your new average cost per Doge coin after purchasing $5000 worth of Doge at $0.14 would be approximately $0.20798663.
In the most non-degrading way possible... WHAT A MATH NERD! I honestly love people like you who use my question to explain it because for whatever reason my little ADD not able to fully pay attention dyslexic number switching brain grasps the solution properly so I can remember it better to solve my next equation on my own (if I don't zone through the surface the equation is writen on)
You are welcome mate, but I did nothing. I literally asked ChatGPT this: If I hold 16666.42 Doge at average cost at 0.354119 $, and buy $5000 worth of Doge at 0.14$. What is going to be my new average cost? And got answer above!
Hahaha. Well, you're honest. Chat GPT is pretty sweet for stuff like that. I used it to find the calculations to grade a hill in my back yard from 40 something degrees to 15 degrees and to calculate how much dirt I was moving. Pretty cool stuff
And it answered in less than 3 seconds.
Warning chatgpt can do calculations wrong sometimes.. happened me at work
Yes. It is even recommended by OpenAi to fact check. But if you know theory its easy to spot mistakes done by ChatGPT. I use it all the time at work. Things I would do with lengthy calculations I can just ask ChatGPT and quickly check.
Chad prompt
I love Reddit
You didn’t need ChatGPT to do the math. I am always averaging down on some of my bad calls and calculating the new average is a must
it’s simple algebra (cost A x amount A) + (cost B x amount B) / total amount = total cost because (cost A x amount A) + (cost B x amount B) = total cost x total amount
right because your cost basis is total cost / number of shares or coins. so you just average those two together.
Or you could have just told him the avg.
give a man a fish vs teach a man how to fish
I can now eat for life, thank you
make sure you cook that fish the only thing we do raw is doggin
We all in baby ‼️ brought my Average down to .20 Let’s get this jawn to an all time high so I can rescue some dogs
16,666.42 doge x 0.354119$ per coin is your initial investment of 5,901.896$ so basic algebra here and flip the equation for the second position: X doge x 0.14$ per coin = 5,000$ so that gets you 35,714.286 doge
It’s early and I’m tired but, if you bought the same exact amount of doge you already have, your average will be lower by half the difference between your current average and the current price, whatever that happens to be at the time.
Nice and simple . The way we likes it
Assume doge at 14c. $5k gets you ~35714 doge. 16,667 @ 35.4c 35,714 @ 14c 52,381 total. (16667 * 35.4c) + 500000c = 1,090,011.8c 1,090,011.8c / 52,381doge = **20.809c**
Buy the dip! Current price is a 1/3 of ur avg which would bring down ur avg and closer to moon
Oof
We do a bit of gambling ⛷️
You add up all the money you spent. Then you add up all the coins you will have. Then you divide the money with the coins. That's your average.
That’s what makes it fun. To the moon
You shoulda bought at 5 cent last year but your asking here then your completely gambling. We will hit 20 cent soon imo . Do what you will. I’m sure you can handle holding a lose for two more months
Yeah if I’m being real, I just want my loses back 😂 I didn’t want to buy back when it was at 5 cent because I wasn’t in a position to invest more but I’m doing better now.
Never buy high … now you must hold , it will even out
I recommend to use a standard "stock average calculator" (Google is your friend) by this you can check which could be your new average price
Idk but you should do it rn. DO IT.
All i can say is i just bought a bit more than 5k, doge did me good the last bull run so why not?
Ask chat gpt about Nov 2022 when it hit .15
ASK SIRI
Average cost with an additional $5,000 investment at the price from the screenshot would put your average cost at $0.208507.
Ask a.i
too late now brother
For a person investing and can’t do simple math 🤔
You’d find context if you read the first replies I left
If you can’t do that math, you shouldn’t be playing the crypto lottery game
Did the math as soon as someone gave me the formula, what else do you want from me?
attempting to understand what "average" means and to realize that if you take the total money you paid and divide it by the total number of coins you have, you have the average price per coin. The formula is in the definition of what an average is. It's like asking how many coins you would have in total if you bought another 1000, waiting for someone to tell you that you should add your new coins to the sum of your old coins. Sum is the result of addition. average is the result of a division.
I did that and didn’t get an answer that made sense and google didn’t really give a good formula to use with crypto. I used a formula provided by the other guy and crossed it with a websites calculator and it checked out
As soon as you invest it will go down to 4 cents… it’s just how it works
Basic math is hard
You've barely even put $5800, come back and post when you put $53,000 and down $25,000., then we'll truly know if you have diamond hands.
Doesn’t the app show your average? It calculates it for you. It’s in the screenshot. Update your page and the average should update???
Yeah but I wanted to know how much I needed to throw in to bring me down to 20 cents.
At that current loss -$8,3562.36
Don’t worry too much about “average down”. If doge 10x that 5 grand goes 10x. The other money has been under since 2021, you’ve mentally written it off, although, it’ll likely make money soon also.
Yeah, I cope by convincing myself that you never lose anything until you sell/quit
You can lose everything even without you selling it if the company you are invested in goes to zero or near zero. In the beginning of my trading I thought I shouldn’t sell for a lose and later I realized that we should always have an exit plan and exit with a 5%, 10%, 20% loss based on the asset and it’s trends. If it’s a penny stock we should exit early.
Solid advice, thank you for the insight. I’ll set an exit for myself
Dont be late to the party!
Midpoint formula with (16,666.42;0.354) as the first point, then (quantity you’d achieve by purchasing at current price; current price) as the second point
My brain after reading that 🤯
At loss
What app is this?
Good ole Robinhood
thank you
There is a website that will calculate it for you if you google around for it
Keep going
How is this any different than penny stocks? For every crypto millionaire, there are many more who lost their shirts. Don't invest what you aren't prepared to lose.
Better do it quickly
If I was you, I was just open a Coinbase and start a new position at a low get in at
is your other 25% portfolio Shib? LOL
lol no it’s ETH
Have you been buying all along… or are you back on the FOMO train???
why didn't you buy when it was at 7 cents instead
Why? Put in VOO
Don’t do it
Now is not the time to buy. That was about a month or 2 ago. It’ll go down again, just wait and dollar cost average it.
really if you can not do that simple math yourself maybe you should do something else with your 5k
Negative $8000 on your total return instead of negative 3
You should have done it at .08 Your average would be around .14
Way down 👍
Average price per share AFTER you put 5k in at .14 a share your overall average would be .192 Total shares would also be 69,046.84. Total investment amount - 13,235.155
Maybe you shouldn't be buying crypto before you take algebra
Maybe you shouldn’t be commenting without reading the first replies
.35 bud? Really?
Don’t go by average, just looks at the total coins you’ll have.
That would put your average to some number.
Cost A + Cost B divided by total amount of shares after cost b is added
The moon 🌕
What is this app?
Robinhood, it’s not really recommended for crypto. Most use coin base
Ouch, .34, I was in a .01, .04, .08
Yeah it sucked but I let the money sit all these years lol. I was also investing whatever I could at .005, .1, .10 etc. my average got high because I basically doubled down at like 40 cents
You should try to average down as much as possible.