Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Lida93
on 05/11/2023, 13:53:24 UTC
⭐ Merited by JayJuanGee (1)
But if I can buy once a month with a pending order at the lows, and once a month sell at the highs (rarely too) - am I a holder or a trader?
@summonerrk, you are a trader and NOT a Hodler. This is because selling your bitcoin due to little price increase is a way to distract yourself from a long term goal, and it will be hard for you to reach your bitcoin target, if you have. You will also not be able to make a better profit got yourself at the long run and when you make the wrong decision about the market, it can lead to loss and you will regret it. Why I said so is because nobody can know the price movement of bitcoin accurately, and you can not always buy at the low and sell at the high, if it is always possible every bitcoiner will become a trader.
@Ruttoshi you're correct that he's not a hodler but a trader in as much as he buys and sell each month with every dip and high that roll in. A hodler is said to be that investor with a medium or long term investment plan with his portfolio.

But at same time, he @summonerrk can be a trader and a hodler if that's what he intend on doing. And this he can do by having a separate self custody wallets, one for buying and selling each month as you're already doing at every dip and high that take place, while the second wallet should be meant for hodling by DCAing.

It should be noted that to be able to do this and maintain it, you have to consider how much you earn as income (salary) as it greatly depends on it because if the uncertainty of the market due to bitcoin volatility which we can't be accurate with our predictions.