Topic: Dollar cost average on Altcoins - page 2. (Read 265 times)
I usually do buy if a coin is dumping to improve my average cost but rest assured i only do it with the coin i truly support and i know that it will give me benefits over time so i will not do this with every coin only the best ones.
Yeah no sense chasing a dead cat. What you want to do is wait for a strong sustained rebound then buy into that. You'll end up buying too many losers if you buy every alt dip most never come back.
With this average trading technique, everyone could learn trading in a simplest yet working way. by just simply waiting for the price to rise, you don't have any problem to earn some decent amount of income from trading this way. however, this is not always the case because we have known from the start that the price always has this trait called "Volatility" where most of the time happened in the crypto market. just like what we have seen today.
Some of the cryptocurrencies including bitcoin looked bloody today and this is the time when you gonna have some panic whether the price will gonna back to normal again or not. because if this gonna continue, you will have that bad thoughts that the price will not gonna back again to the top.
Some of the cryptocurrencies including bitcoin looked bloody today and this is the time when you gonna have some panic whether the price will gonna back to normal again or not. because if this gonna continue, you will have that bad thoughts that the price will not gonna back again to the top.
Dollar cost averaging only works if you are buying directly with cash but we all know that most of the community stillbuys alts with btc or eth and seeing their investment value continuously dropping in terms of btc or eth is painful.
Trading needs the best practices and strategies to minimize the risk, and you should have a planned, before you going to trade cryptocurrencies because sometimes shits happen that beyond our control, like the sudden swing of the crypto prices and I'm already experienced that kind of market situation, and what I'm doing is just patiently wait to return the same price level before I sell my coins/tokens just to break even for me it's better than to suffer losses and prolonged waiting and holding period.
No matter you buy Bitcoin or altcoins, always you have to follow your strategy and not your emotions. I know how you feel, my altcoin portfolio is down by 70%, but I do not care, I know when the treue bull market comes, everythigng will boom again. See profits on YFI, Link, BNB. If some coins could make thousand percents, why not the old estabilished coins with huge user base? 
Why not reverse the choice instead of altcoins, do dollar cost average with bitcoin. I've read some people did this in the past and has been consistently doing this up to now.
No problems were found and no complaints heard from them. With the roller coaster, they are still in profit and focused in doing it.
No problems were found and no complaints heard from them. With the roller coaster, they are still in profit and focused in doing it.
Trading cryptocurrency has always been hectic for some users, instead of going through trading tutorials and courses, they chose the simplest and the most popular method of buying and selling which is dollar cost average. Very easy, effective but one need the mind to take the little loss at the initial stage.
The problem I have encountered with this method is when Altcoins drop by 50% - 70%, its always difficult to make profits as most of take eternity before they make such huge recovery again.
How do you deal with this situations of huge loss on Altcoins?
The problem I have encountered with this method is when Altcoins drop by 50% - 70%, its always difficult to make profits as most of take eternity before they make such huge recovery again.
How do you deal with this situations of huge loss on Altcoins?
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