Whether you have been investing for a while or are just getting started, you've probably heard the advice to "buy low and sell high." After all, everyone likes a good deal. But the decision is rarely that easy.

When stock prices are falling, and your screen is flashing red, it can be difficult to make the contrarian move to step in and buy stocks.

Similarly, it seems counterintuitive to buy a stock when the price is higher than ever. However, buying great companies at high prices can be a winning strategy if the company has a path toward future earnings growth.

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Source Fool.com