## What is "Doi" and Why Investors Can't Avoid It

**Doi** is a state where investors buy assets (stocks, crypto, funds, etc.) with the expectation that prices will rise. But when the opposite happens and prices drop sharply, investors see red numbers. Instead of accepting the loss and selling, they choose to hold onto the stocks in hopes that someday the price will recover. The result is that prices continue to fall, and the cost basis per unit shows that this mindset is wrong.

This situation occurs frequently because **most investors tend to believe market emotions more than actual data**, combined with making buy decisions based on various reasons without solid fundamentals.

## Why People Get "Doi": 4 Real Cases

**Case 1: Price Rise Without Reason**
A stock trades at 5 baht for months with low trading volume. Then, a "house" phenomenon occurs, and the price surges from 5 → 6 → 10 baht in a short time. The market atmosphere heats up. Many investors, caught up in the hype, think, "It must go to 15 baht for sure." They decide to buy at 10 baht, 1,000 shares for 10,000 baht. The next day, the price drops sharply to 3 baht, resulting in a 7,000 baht loss. Now, they are "stuck" according to the criteria.

**Case 2: Rumor with No Basis**
A friend tells or posts that "a major investor will buy into XYZ company." She rushes to buy without verifying if it's true. The reason is that the old shareholders want to sell, so they create viral rumors, attracting many investors to buy in. When the price rises, the original owners sell off, and the rumor fades. Trading volume decreases, prices collapse, and new investors who entered last end up "Doi."

**Case 3: Good Stock but Bought at High Price**
Learned about MOE stock, which has a good business, growth, and a reasonable P/E ratio. Filled with confidence, bought a large amount. Then, the management announced "slower growth" or an uptrend reversal. Earnings disappear, and investors choose to hold because "it's a good stock, it must go up." The result is a fund-style "Doi."

**Case 4: Timing Mistake**
Stock price per unit is 100 baht. You buy at 90 baht, thinking the P/E is good. Suddenly, bad news hits, and the price drops to 50 baht. You hold, waiting for it to rebound, but it doesn't because the company's fundamentals have changed.

## 4 Ways to Exit Doi and Prevent It from the Start

**Tip 1: Stop Loss is the Science of "Giving Up for Life"**
Smart investors must set a stop-loss point from the start. For example, buy UAA at 20 baht, set a 5% stop-loss = 1 baht. This means if the price drops to 19 baht, sell immediately to avoid emotional decisions. Those who follow this principle will never get heavily "Doi" because they only lose 5%, not 70% later.

The acceptable percentage depends on risk tolerance. Long-term thinkers might set 3%, active traders 7-10%. The key is **to set it beforehand and stick to it**.

**Tip 2: Set a "Take Profit" Point, Not Wait for the Day**
For short-term investors, aim to sell after a small rise. For example, buy DEF at 5 baht, 5,000 shares, and plan to sell at 5.2 baht. A 0.2 baht increase yields 1,000 baht profit. It may seem small, but this is scalping—some call it "round trading." Aim for 1-2% profit per round, and repeat often to accumulate gains. The advantage is you never get "Doi" because you exit early.

**Tip 3: Study, Study, Study Before Buying**
Investing is not gambling. Before buying any stock, ask yourself:
- What does this business do?
- Is it profitable?
- Can it grow?
- Is the current stock price justified?

If there are scandals or management issues, skip it. **Don’t follow trends** because buying on hype is like letting others shoot your stupidity.

**Tip 4: "Choon" Buying as a Tool if You Are Correct**
Suppose you buy 1,000 shares at 1 baht = 1,000 baht. The price drops to 0.5 baht. If you study again and still believe in the stock, buy an additional 2,000 shares at 0.5 baht = 1,000 baht.
Now, you hold 3,000 shares with a total cost of 2,000 baht, so the average cost per share is 0.67 baht. When the price rises above 0.67 baht, you start making a profit.

**But note:** This "Choon" method must be based on solid fundamentals. Don’t do it just because you "can’t let go" or "think it must go up." Without a solid basis, it only increases your losses.

## Summary: Doi is Not a Mistake, It’s a Choice

People who are "stuck" usually keep buying more, thinking, "I’ve been stuck before and survived." But in reality, **Doi can be completely prevented 100%** by setting stop-losses, studying fundamentals, and accepting small losses when necessary. Waiting for the price to "bounce back" is just wishful thinking. Buying at high prices is what causes Doi.

Experts and beginners are no different; the difference is that **beginners learn from mistakes, while experts learn from watching others’ mistakes**.

If you still say "I’m stuck," now is the time to set a stop-loss, act at the right moment, and **"give up for life"** when needed.