Post
Topic
Board Trading Discussion
Re: Tips for newbie to long-term investing
by
GreatArkansas
on 06/07/2022, 13:49:57 UTC
(.....)
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
You should be careful also what you are accumulating. There are a lot of shitcoins right now.
Another thing is to identify your goal or price target especially if you are trading, or you want to make profits along the way or it depends if you don't want to sell or take profits.

I think what you mentioned is considering a Dollar Cost Averaging (DCA) which is also a good way for long-term investment these days, just make sure you will have strong hands and avoid panic.