Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Odohu
on 06/10/2023, 10:03:59 UTC
⭐ Merited by JayJuanGee (1)
Yes, you can still make decent money when trading the volatility of bitcoin, but it is not a safe and recommended approach if compared to DCA.
From my understanding, you are suggesting short term trading otherwise called scalping. Well, I will never recommend this to anybody as long as Bitcoin is concerned because there are high chances it will end in pain. How can you take risk with Bitcoin that can move over $2000 in few hours? To me this is outright gambling with odds already against you.
I have seen several people fail trying to do this even those using sophisticated softwares. So it is not something I will ever recommend for anyone.

It is always better we focus on what is easy and generally workable for as many people as possible. From the discussion in this thread, a lot of people are new to this entire thing so we have to guide them properly to avoid mistakes. That being said, let's focus on long term strategies that will ensure people buy and give the market a chance to yield profits.

Is never a guaranteed to make money from volatility, in as much as volatility is concerned the chances of making money is not certain, when we talk about volatility we are referring to price fluctuations moving up and down, however there are chances of you losing out your funds while trading volatility so we shouldn't always see volatility as an easy way of making money it doesn't work that way.

You can never compare DCA strategy and trading volatility because DCA is not established for day traders however it was brought to help people especially the beginners on how they can minimize risk and accumulate with the little funds they can afford.
You have said it all. Assuming he dropped that comment in the trading discussion thread, I wouldn't have objected but since we are discussing long term investment here, it is a kind of distraction. Like I said before, Let the focus be on DCA and other long term strategies.