That where those days I was new to this crypto space, didn't have much knowledge on how things work back then all I thought was that one's it's low you buy and sell when it's high unknowingly to me was just spot trading. It's actually course me alot of losses.
Have to take my time to understand how things work In this space and this forum had also help with that. Now I'm now using DCA strategies and I'm now the long-term investment type
Long-term investment has always been more profitable than spot trading, because the two are very different jobs so the level of profit is never the same. Everyone can see that investors who invest in the long term always buy more often than sell, while traders who rely on spot always balance between buying and selling because they don't plan for the long term like investors have done so far. Currently, I am still quite happy using the DCA strategy if I want to buy something on the market because it is a strategy that has been very commonly used by many investors for a long time.Have to take my time to understand how things work In this space and this forum had also help with that. Now I'm now using DCA strategies and I'm now the long-term investment type
There are a lot of hurdles, and surely one of the problems is to be in and out of an investment, especially something like bitcoin, and if you are out at the wrong time, it could end up wiping out all of your profits, even if you might still be profitable in dollars, you might end up missing out on a step up that never comes back down (so you lose compounding effects).
Of course, we are not talking about trading in this thread, but it is not always going to earn less, but it seems to be quite problematic to even be attempting to trade something like bitcoin which is amongst the best of investments available (if not the best), and then some guys are dicking around trying to trade it, like they are playing with dynamite, and sure it might end up working out, but does not seem to be the kind of asset that a guy should be playing with.
I believe it is a wrong mindset to think about selling bitcoin or trading bitcoin because it is more profitable, especially for guys in the earliest of BTC accumulation stages, and I think since our emphasis in this thread is to buy and hold and does not involve selling, so therefore, the idea is accumulation of BTC rather than trying to second guess anything in regards to BTC profitability that might come from any conduct that is other than buying and accumulating BTC.
It is difficult to know on any kind of personal level how much BTC that a guy might need to accumulate in order to start to become over allocated, yet if any of us is thinking int the long term, it surely seems that the earliest stages of BTC accumulation would be to strive to get a BTC portfolio that is at least 1 years worth of salary, and that could take 10 years if the guy is merely investing 10% per year of his salary, and yeah, BTC prices could also appreciate to such an extent that an investment of 1 years worth of salary into bitcoin could end up appreciating greater than other assets, yet I still find it problematic to conclude that the guy should consider himself out of BTC accumulation stages and into maintenance or some other stages based on those kinds of facts...
Once you get into maintenance, there can be ways to sell BTC on the way up, but that is presuming that you are somehow over accumulated so you would not be accumulating, so what is the situation? are there other investments besides bitcoin and cash, and then at that point there might need to be assessment about what those are because it would seem kind of silly to be selling BTC on the way up, while realizing that you don't have enough and the BTC price keeps going up and then you have just moved yourself into a waiting rather than a buying mindset because who wants to be buying at higher prices than the sold, so why sell in the first place, if you are not quite to the point of really being able to justify that you had over accumulated.. but again what are the facts getting us there.
It seems to me that you Mahanton are off topic because you are suggesting that guys should sell in order to accumulate more and that seems to be your sense of greater profits by trading rather than just holding, so even if there are ways to do it, you still seem to be off topic by trying to push the conversation in that direction... or to make those kinds of suggestions without further developed facts to justify what you are asserting.
The only issue on here is that you would really be needing to risks more and we know that not all could be able to bare up such risks and this is why they woudl really be that deciding on holding their positions instead
rather than on hassling themselves on going into those trading platforms and spending their times on making those buy and sells.This do really actually depends on someones preference and risks appetite
on which we know that each person would really be having on different approach towards this risky and unpredictable market.
rather than on hassling themselves on going into those trading platforms and spending their times on making those buy and sells.This do really actually depends on someones preference and risks appetite
on which we know that each person would really be having on different approach towards this risky and unpredictable market.
That does not really justify what you are saying. I mean if you are in this thread and you are trying to stay on topic then maybe you might suggest to limit the risk by suggesting that if guys cannot resist gambling (or trading), then they should make sure that they don't gamble with any more than 10% of their BTC holdings, and if they fuck around and lose that 10% they should have strict enough rules so that they do not come back to their bitcoin holdings and take another 10% for their gambling addiction.. so if they lose the 10% and they are investing $100 per week into bitcoin, then maybe they can ONLY stack away $10 per week to gamble with and the other 90% should be going into bitcoin rather than taking extra chances with an asset that is already risky.. and even if they do that, then they still should be paying attention if they are really benefitting from the time and efforts that they are putting into gambling/trading when presumptively and accordance with the theme of this thread, their main goal is BTC accumulation.
.
The reality, for those people who do plan to risks are the ones who do have the opportunity to make money more specially on short time
but its not really that necessary for you to dive in with this kind of path to take if you arent that even confident on what you are doing.
The reality, for those people who do plan to risks are the ones who do have the opportunity to make money more specially on short time
but its not really that necessary for you to dive in with this kind of path to take if you arent that even confident on what you are doing.
Well if you use less than 10% and you are trying to learn with that, then maybe at some point you could be able to develop those kinds of skills, but none of us should take for granted that anyone is likely to do any better to be trading rather than focusing on other ways to increase their abilities to accumulate BTC by working or maybe by earning more income and cutting expenses...
I will grant that there could be some guys who might not be very employable based on geography, skill set, age, health, family responsibilities or some other limitations, so they may well be in a position that they are able to spend time learning to trade, so I won't take away from that possibility, but that still is a topic of another thread, and surely some specialized skills to play those kinds of games with potentially one of the best (if not the best) asset available.. and sure if they end up getting into shitcoins, that could be very time consuming, but there could be ways to trade shitcoins without necessarily getting to much sucked into unethical behaviors.... and so there can be a lot of curiousities in the world in the various ways that various shitcoins affect the world. but again sometimes there is going to be a lot having to get into really dumb stuff and spend your brain power on some of the deceptions and fake outs and to play some of the various dumb and misleading talking points without necessarily believing all the bullshit that you will get drug through, so hopefully there would be limits in how much to expose yourself to that, and to recognize the value of bitcoin.. yet part of the temptation for anyone who gets sucked into dumb shitcoin talking points will sometimes also having some feelings about needs to deploy more capital than their 10% limitation in order to really make it BIG with whatever their shitcoin play might be (whether they have good information or not might not always be clear or worth it to explore into it or spend so much time on those kinds of deliberations and investigations).
In my opinion, long-term investment in bitcoin can yield greater ROI than those who trade daily. For this reason, our mission is long term and every month we set aside our income to buy Bitcoin. Bitcoin has a limited supply so it is not surprising that currently large companies are starting to buy more BTC for them to store. So we don't back down to them, that is, we stick to our position of buying Bitcoin and holding it for the long term.
Frequently the reason why I (and maybe some other members will do it to) will show a longer term DCA approach, so if a guy comes in here bragging about how great trading is or some other waiting around strategy is blah blah blah... then we can ask him to compare his own performance to a strict DCA approach, especially if he has been in bitcoin for 6 or more years... the longer that he has been in, the less likely that he is going to be able to say that he has beaten a relatively strict and/or aggressive DCA approach... sure it is possible, but it can take a lot of time to employ various other strategies, including the waiting around strategy.. when it frequently is better to just get the fuck started, buy regularly and then maybe reassess your income versus expenses and maybe the amount of your holdings and your various funds (emergency and reserve funds) from time to time to figure out if you might need to do some tweaking, such as figuring out ways to make more money or to cut some expenses, and maybe figuring out ways to secure your coins, too.