⭐ Merited by JayJuanGee (1)
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A few things about knowing how to actually buy or sell when we are in DCA,
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Maybe this is what I quoted.A few things about knowing how to actually buy or sell when we are in DCA,
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So for your explanation maybe a little bit good but in this mindset maybe we won't think about options on how we should sell. lol
I think the argument we have in mind is to buy and hold and not to sell in a short timeframe. This means that the money we invest in the DCA strategy is cold money that we don't use for our living needs. So in this case we can carefully manage at every stage to make a purchase. Apart from that, we do have a high commitment to hold on in the long term, let's say it will be around 10 years.
Why do we think of selling when we are already aware of the investment options. It's not just about buying and selling quickly especially when making investment and DCA commitments then it is definitely a long-term goal so regardless of the temporary gains that occur I think holding on to our goals is most important.
We have our own goals whether it is in terms of time horizon or profit multiple goals and I want something bigger than the current price so why worry about selling at the moment as the focus is still on buying.
All trader ever in position doubt and fear when investing their money in bitcoin or altcoin exactly facing moment with price dropped drastically, its nature of human being how to face with their investment happening later drop or not. But don't give up for accumulating and buying bitcoin how many possibility based on our financial having. Bitcoin and altcoin trader have strong mentality and more patience facing bad moment when bitcoin drop and keep continues reinvesting if their target with long term investment. Don't give up when looking current Bitcoin or altcoin have lower price but take it as very good opportunity by accumulating as much possible not only with bitcoin but also some potential altcoin worth for long term holding.
You should be able to position yourself correctly whether you want to be a trader or an investor because these are 2 different things.From the beginning I think the discussion remains on the condition that if we really want to be good investors then never equate trading with investing because both have significant differences so that by knowing where you want to be it will make you know what steps you will take.
On the other hand, I think altcoin trading is too broad because the current condition of the discussion is still fixated on bitcoin not altcoins.