Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Kemarit
on 18/10/2023, 03:06:17 UTC
⭐ Merited by JayJuanGee (1)
When I first got into bitcoin, I was actually buying every week with my set budget and also trying to find dips within the week in order to maximize my BTC buys for each of the weeks within my set budget for each of the weeks, but most people are not that passionate, and they might well be better off by not being passionate, and just exercising "set it and forget it" so after a year or two, they look at their investment rather than watching it every week like I had been doing and maybe many of the active forum members are willing to do... but normies do not necessarily want to be very active in terms of their BTC investment and that is one of the reasons why DCA can be so powerful for normies who do not want to study or watch their investment with any kind of particularity.
Actually this was the same kind of buying strategy or rather method by brother normally use for accumulation of Bitcoin, what he does was that he will have a targeted amount of Bitcoin to be accumulated within a month and with the strategy of watching the market all the time to buy from any little dip he sees so that's the kind of strategy he normally use, according to him he said the method allows him to minimize the amount of money used in accumulating Bitcoin.

It will really work, you can have to find the grind to do it every week or even every month. But for those who doesn't have that patience, they might as well implore the strategy of buying in just one lump sum, and just leave it in their wallet, forget about it and just comeback when we are in the bull run. So it really depends on each individual. But relatively, I will also used the DCA method, I mean I have been using ever since and it has work perfectly, at least in my case and most likely those old timers here (as opposed to JayJuanGee term of normies).

What I understand from this method is that it has to do with a lot of patient and consistently watching the market in other to have a good entry,  so is very stressful method and I can't imagine myself using that strategy but however irrespective of the little advantage it may have but it can never be compared with DCA method, because it allows you to set a target and hit it without considering the price movement.

True, but once you get over it (my secret is that I look for the long term goal), it's going to be easy and smooth ride and then after a year or two it will be just like regular, clockwork for you to invest and do DCA without you feeling as if it is being force on you. Of course, there will be weeks that you might not able to buy because of some contraints, but still you can go back and start all over again and continue where you left behind.