Quote from: traderethereum on August 09, 2022, 07:32:59 AM

Quote from: Silberman on August 09, 2022, 03:20:15 AM

Quote from: arwin100 on August 08, 2022, 11:17:01 PM

Newbie should do DCA because this could practice their patience towards their trades and as well they can learn more from their daily activities by looking at the market volatility. Although its really hard to spot the dip to maximize our profit but we should always put this as a goal that whenever we are in profit we should exit so that we can continuously accumulate rather than waiting for more pumps which we didn't knew if this one will continue and might this will cost us losing our all money if we are so careless on our trades.

DCA could be too advanced for most newbies as it could be incredibly painful for them to buy bitcoin and see that it goes down in price and then repeat this process over and over again, since at some point they could panic and sell their coins, to me it is better that newbies start by using the most simple strategy, which is just to buy and hold their coins, and then after they get a better understanding of this market they can try their hands on DCA.

Maybe newbies really need to learn more to analyze better so that even if the price drops, they can still see an opportunity to buy more than before.
It takes experience and practice many times to see the opportunities that come and I'm sure if they can do it, their ability to try DCA will be better one day.
It may look difficult but that's where the challenge is for a newbie, especially those without enough trading experience.
Everyone, especially professional traders, starts their career from the bottom and keeps learning until they have enough skills to trade and make a profit.

Without a doubt I think that many newbies could learn to perform the DCA strategy correctly, but in my opinion on their rush to get profits they skip a great deal of steps on their development and this plays against them, how many newbies try to day trade immediately with almost no knowledge about the markets? A huge number, then they lose their money and they get unhappy about this market, but if instead they began by holding their coins for a few years, then they got to implement DCA for a time as well and only then they decided to become traders their results will be way better, but for them this is a method that is too slow and they do not want to use it.