Post
Topic
Board Trading Discussion
Re: Trading as a newbie - advice?
by
_BlackStar
on 17/07/2023, 20:15:41 UTC
-snip-
If you have a choice at the moment, then I would recommend that you refrain from trading and focus on long-term investing. In this case, you need to figure out what DCA is and how to use this strategy correctly. Perhaps this recommendation will help to save your deposit.
I recommend DCA as often as possible for beginners especially if they want to invest. I certainly wouldn't mind if they bought bitcoins with all their budgets - but DCA can help them get their average price lower. DCA is also adopted by many seasoned investors - even if they are institutions. El Salvador also adopted DCA when they invested - MicroStrategy did too.

But if the OP wants to trade - then surely we have no right to change the plan. The OP can trade and take advantage of price fluctuations - but he should know what the risks of trading are in both the short term and the long term. He should learn to do analysis as often as possible instead of expecting advice from other users on the forum.