Quote from: Makus on Today at 06:55:48 PM

Quote from: JayJuanGee on Today at 05:42:23 PM

so yeah, you could well have an emergency fund that covers 3-6 months of your expenses (salary) and helps you to feel comfortable that you have enough money in such emergency fund in the case you might be able to be more aggressive in your bitcoin investment and also to have the emergency fund available in case you overdo it... which might sometimes end up happening, and it should be minimized that you are counting on your emergency fund, yet after you maintain an emergency fund for a long enough period of time and you get used to maintaining an emergency fund, then you should come to realize how to use it and the creation of your own personal boundaries for when and how to use it..

Well spoken Mr JJG, emergency funds are very important for every Bitcoin investor who is into long term holding. Emergency funds are the basic things any Bitcoin investor should set aside before going into investment. Just as you said most times we get too tempted to overdo our investment due to the market movement, especially now that we are close to the halving and would be experience th bull run thereafter. Most times I sit back and wonder if I'm out of my mind for making some aggressive decision in accumulating Bitcoin, but then I realize that every decision concerning Bitcoin is worth the risk, and that is how move on.

After stumbling on those 9 factor and examining my condition, I think I need to work on number 8 because, my application of accumulating strategy isn't flexible and I need to update myself time to time.

"8 ) your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time,"

https://bitcointalk.org/index.php?topic=5376945.msg58719590#msg58719590

I personally think that number 8 can deal with a lot of things in terms of how much time anyone has to be able to spend on bitcoin and learning, and if you do not have a lot of time, then you need to attempt to maintain a less aggressive and maybe even a more passive strategy, and DCA works pretty well for someone who does not have a lot of time to study into bitcoin or even to study into various kinds of strategies to monitor if the BTC price is going to go up or down.

Surely another BIG factor is that if you spend a decent amount of time either building up your bitcoin stash, or even getting your emergency fund in place (when maybe you did not have one previously, or maybe your emergency fund was quite inadequate), so once your emergency fund is in a good place, then you can also tweak your strategy... ..

Also, we are not stagnant creatures, we are frequently learning about things or maybe some other kinds of obligations come up in our lives in such a way that we are less able to spend time with figuring out bitcoin or our finances, and so we end up having to spend time, money and energies on some things that were not initially related to our investment plan, so maybe we have an income of $4k per month, and we decide we want to and we are able to be aggressive in our bitcoin investment, and we are able in invest $1k per month into bitcoin (which would be 25% and pretty aggressive), but some things change, and we realize that we have to downsize our investment to ONLY $400 per month (which would be 10% of our income).

As you indicated, we might not always be keeping very good track of where we are at, and if we need to relook at what we are doing every month, or once a quarter, or maybe only once or twice a year, but sometimes there will be value in reevaluating where we are at and the kinds of strategies that we are employing in regards to our bitcoin.

Quote from: Makus on Today at 06:55:48 PM

However it's not all that necessary, especially for newbies. I think the category of person worthy of trying this strategy are those above the newbie stage, newbies in Bitcoin holding are advised to stick with DCA until you seem comfortable of holding without hitting the sell button, then you can go ahead in exploring other strategies. I am still applying buy the dip with DCA and this is the best I have seen so far, don't know if there are other strategy better than this for now, but I think I am comfortable enough to make some changes.

You may well be right that a certain strategy might work for you for several years, but if you spent 4 years buying between $100 and $250 per week as in my above example, then you may well end up in having around $20k to $50k invested into bitcoin after 4 years, and then you might want to spend some time looking over the status of what you had already accomplished and to consider if you need to make some changes to your approach,, because as some point you might start to believe that either you have enough BTC or that maybe you want to invest into other things, and I am not necessarily referring to shitcoins, even though some people do end up going down that road... but there are things like equities, properties, bonds, commodities, and cash/cash equivalents that might be relevant in regards to some ways that you might consider reallocating or refocusing some of your BTC exposure as compared with other places that you are holding some of your value.