TheStreet.com TV Recap: Swimming With the Shark

"If you bought a stock like Coca-Cola (KO Quote) back in the 1990s, you're under water," DePorre said, citing an example. "There are so many more like that. We could name hundreds of them.

"Traditional Wall Street is mainly about gathering assets," he went on. "What they want to do is keep your money in house, so if you buy and hold, they're going to hold on to your assets."

However, if people are active and move in and out of the market, there's a greater likelihood that they might move their cash to a different broker or fund, DePorre explained. "So there's a lot of motivation to tell you to stay the course or stay steady."

Lastly, DePorre said "it's very important ... to have a methodology where if your losses get to a certain point, you get out no matter what." If market players are going to start averaging in, they must have a methodology to exit, as well if they made the mistake of buying too quickly, he said.