Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
salad daging
on 29/09/2023, 20:58:37 UTC
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I don't know how everyone is DCA, but what I'm doing is I will DCA if the price drops more, but this is not often because I don't always have the money available every time the market drops more. The second method that I am using more often is that I will buy bitcoin at the beginning of the month every time I receive my salary. After I have deducted all necessary living expenses for that month, I will buy Bitcoin with the remaining money regardless of what price it is trading for. Because my sell target is still the new ATH, as long as the price remains below my sell target, I will buy without worrying about the price. Furthermore, bitcoin is unpredictable, waiting for a cheaper price to buy may not be successful.

You are right, once we have used the DCA method but still think about price it will greatly affect our investment.
Well you can do it that way if you can afford it with the cash flow you have.

When the price drops then increasing DCA a little bit is actually much more but when finances are not sufficient then don't force it, the scenario might be like this: Your average weekly DCA is $50 when BTC drops can be increased to $80 - $100 if it's difficult then don't do it because it's better with the habit of being a little calmer than increasing when the decline becomes uncomfortable because the money is not enough to input while forcing it will be an obstacle.

The second way is good! Needs are important to fulfill immediately rather than investing, when there is still money left over whatever it is then it will clearly not be a barrier in the DCA strategy, I think everyone will agree if they have prioritized needs and then the rest is invested.

Keep in mind that if we continue to pay attention to prices this will affect our mentality and thoughts towards our investment.