Topic: I AM DCA-ING - page 3. (Read 800 times)

Anything that triggers my emotions negatively is mostly prone to be avoided by me, emotional instability can affect you in other walks of life and even have an impact in the way you attend to your daily activities.

I've attempted trading earlier in my life, but I found out that I keep on checking my trading app to ensure I don't loose and this greatly reduced my productivity. Tried it couple of times more, the patterns keeps repeating itself and I knew it was time to quit trading , lest I Might loose my career in the process.

That was arguably one of the best decisions I made as a human being as my life returned to normalcy and I'm doing better as an investor.

Thanks much, it is indeed a headache-free world and a reassurance that the future is bright.

Yea, there's no need of being shy to announce that I am a bad trader. Trading isn't fckn about only skills(the ability to read the charts and candlesticks) but has a deeper connotations with emotions.

many times DCA more profitable than trading anyway.

just look at the recent dumps, I bet the people that did daily trading are losing big time but we the DCA people are just trying to lower average by buying the dip which gonna be good if market suddenly have good news such as big entities massive buys up while the daily trader got long squeezed or short squeezed left and right.

with DCA we don't try to predict the market, we just go with the market flow and it's proven to be the most effective strategy ever.

I got no interest in trading since you can't trade with a relaxed mind, you keep checking for some difficult candles and some events tho close markets and those stuffs, and you risk losing your capital at the slightest mistake. This doesn't make trading bad, I'm just expressing how bad I'm in it too.

I'm not cut out for those stress, I love investing and DCA is my pattern. It allows me accumulate without pressure, slow and steady I'll reach my goal. I have my target in mine and I'm focused and committed to it. I think that's more than enough for me.

If you can't be good in trading, then do it with DCA and hodling instead. That's the best thing you can do in order to still gain your target profits in the end. While trading can be highly risky that's why a lot of those who enter trading end up quitting, but with DCA you are in full control of your investment without pressuring yourself when to buy and sell. Just buy low and sell high, or even buy all the time, after all losing won't be possible if you don't sell your coins at a lower price compared when you bought it first.

I will agree to continue buying and accumulating bitcoin until I reach my target. don't care about price increases, and negative news that will make me skeptical. I will only focus on one point and walk straight to my goal. because my goal is still long as long as there are no problems with my finances, keep collecting if there is a price reduction it is a discount to continue accumulating. and it would slow down buildup if I relied on waiting for price drops. besides that, I am not a psychic who can predict when the price of bitcoin will fall, so as long as there is money that can be allocated for regular purchases there is no obstacle to continuing to accumulate

Too long (not really), didn't (really) read. But welcome to the club. Welcome to getting your life back, to finally acknowledging that you aren't a (good) trader, and that you can still load up on BTC over time, perhaps never be as fabulously wealthy as others, but ensuring that if your immediate future isn't so clear, then many cycles down the line, you (or those you care for) can protect yourself against the naughty ill effects of regular money.

The headache-free world of DCA is really quite something to appreciate later on.

I read the topic as "I AM DECAYING"
Maybe DCA-ing isn't the best sounding word if you want to popularize the DCA process.

You have a nice conviction there buddy. Wish I was that enthusiastic, but after years of holding I no longer have the need to stack. I have enough of my money invested in bitcoin, I don't need to add more. Maybe if I was making over $2k a month I'd consider putting some of it into investments, but I feel like I'm going to be more or less passive this cycle and go into spending mode starting next cycle.

You are doing the right thing now. Because you are a bad trader, and because of a small mistake in trading, all the money is lost,  you are a bad trader, and if you tread more so you have lost a lot of money. But before that you are out of trading. You have done a really smart job. Another thing is, you have taken the best decision, because DCA method is the best way to earn from Bitcoin risk free. Every failed traders should make such decision like you. Anyway now you go on your own way, investing and holding as much as possible. And keep it for a long time. You will see that at one stage it has given you more returns than you expected.

You have indeed taken a very good decision. Since you are a bad trader, you have made a 100% correct decision. You buy Bitcoin at average price using DCA method. Whether the price is low or high, you just keep buying. Hold it until the bull run starts. And since you said you're willing to hold it until 2030, you've got a lot going for you. Keep going buddy, keep buying as much as you can, just hold on and keep running this.

Perfection is what you’ve written out my dear in simple lay man’s terms, this should be the lyrics to all of us applying the DCA method.
Come rain come Sun we’ll continue applying the DCA method buying Bitcoin at whatever rate and HOLD not only for us but for our unborn children.

It is too perfect and it is like a story only.

We use money to purchase Bitcoin but we will need to sell our bitcoin in future. There is nothing like Buy in bear market, Buy in bull market, buy forever and never sell.

[ANN] JJG Sustainable Bitcoin Withdrawal Strategy that is one of idea for withdrawal of your investment.

Let me start by saying DCAing is very correct if you join it together, it's contemporary English, it doesn't have to follow the old rules. As for the discussion itself, well, you should first know the difference between trading and investment, for this, I do not see you as a bad trader but a bad investor. All your plans can only say of a desperate investor that doesn't have any regard for the investment rules, and this could also mean that you are just an extremist regarding Bitcoin, this is why you can be saying you do not care about the outcome but just invest. What if something unforeseen happened negatively and you lose too much?

This is why I like to always tell us the Bitcoin investors to cool down, we should think before we act and also see Bitcoin as an asset, and not one god-asset, otherwise, it will cloud our judgment and that can't be good. All assets have their good and bad days, which is why investors should be smart and not sentimental, even as we use our economic data and technical charts. The two will now agree for us to have reasonable investment decisions instead of just investing without a basis.

Fine, the DCA approach is a good one, and had it been it's the only one you talked about I wouldn't have given it much thought, but referencing Buy and Buy is not good for a serious investor, we should be ready to act appropriately. Even at this high level of Bitcoin, DCAing is increasingly becoming risky, although the downwards retracement from $71,000+ in a few weeks has limited the risk by a few.

That's the spirit of true HODLERS right there

I'm pretty sure some people with likewise mindset that got lucky enough to bag all the way from a thousand dollar a bitcoin to 70 thousand dollars a bitcoin are people with massive diamond hand that don't give a damn to the market price swings.
i've seen plenty of such stories in twitter, many of them believe bitcoin will go to millions ever since from the very start, which I admire because their patience truly pays off.

you know DCAing is also one way to be stress free from extensive behaviour of monitoring the market, sort of invest and forget it which I also personally do.

I don’t know who needs to hear this, but mining Bitcoin is a great way to lock yourself into dollar cost averaging. If you use your fiat to buy miners, you likely won’t regret it. While I think there’s nothing wrong with buying BTC directly, I think having multiple strategies such as mining and buying along with selling goods and services is a great way to make sure your stacking is diversified.

Exactly DCA is a risk management strategy used by investors, with DCA you don’t need to bother to look for a perfect price to get into the market, anybody that says they are DCAing amd losing are definitely doing it wrong like only buying the highs which is clear FOMO. My own personal DCA method is; I use like 70% of my intended funds to buy at the start of the my investment the remaining 30 percent is divided into three past each part is used when a dip happens. Until the entire portion is filled up, this gives you more of the coin than you would have actually got at a certain price.

Bitcoin at the current amount can only be accumulated with only DCA alone as the price is too high and it is also fluctuating again

You're a pretty bad trader buddy but trust me you're a good investor. In current market situation DCA-ING is the best strategy to accumulate more Bitcoin and hold those for long term.

Those who're good traders might be scared because the market is not moving according to their expectations but those who're good investors often buy at dips and follow the DCA strategy.

No one actually know that either the market will move upward or it will go downward but surely those who believe in Bitcoin will try their best to accumulate it no matter where the market moves.

Some people adhere to the principle that 1 btc is worth 1 btc forever. Regardless of the price - 1 BTC that you hold is still 1 BTC, so you will never feel a loss if you have a principle like that. The problem comes when you have different principles - of course 1 BTC is very valuable and has a high value. Price volatility makes its value in fiat fluctuate - so you will definitely feel a loss if you are still holding when the price has corrected.

One person regretted his decision of not selling btc at $73K when he realized the market had dropped to $60K. This is normal because after all the aim of investment is to get a profit or return. So now DCA - that's great, of course. Having bitcoin as an investment in the long term is certainly good - I would also prioritize it as much as I can afford.

I once had a friend who tried to argue with me about Dollar Cost Averaging. He said to me if you do DCA, you are going to lose more because the market will go up. I told him that it is wrong. Or maybe it was just a matter of semantics. With DCA there is no loss of any money, what happens is that the profit made is small when compared to if you invested a lump sum. I believe that the goal of DCA which I explain to him is basically risk reduction. It is in my estimation a risk management strategy and for asset like bitcoin whose price fluctuates, it is very applicable to it. I would rather choose small but steady profit over time than massive profit just once.

DCAing's impact will be seen in the long term. This is what's good in this market, you can be a good trader or a good investor. You choose where you are good at. If trading doesn't work for you and you're just incurring more losses, then you have to choose the other way which is by holding and investing. There's no limit in doing DCA and it's also helping you to be more consistent with what you do and with this, in handling money and that involves investing.