Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
adultcrypto
on 20/01/2024, 22:32:53 UTC
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.
I have been opportune to see few of those we can say they succeeded in trading and there are few things I observed about them that really got me worried. Although they made so much money and can actually show some great cash volumes that passed through their account, a lot of them are not conservative, they use this money lavishly and sometimes in a reckless manner. Beside that, they are so noisy and boastful. I don't know if this habit is common for all others, I'm just talking about the few that I know.

What I do know is that although those trading may see big wins and may appear rich sometimes, those investing and holding for long becomes richer on the long run, save for the future, enjoy peace of mind and have little to no chance of becoming broke. Unlike the trader than simple mistakes can lead to serious loss.

Having examine both options, I tend to love long term investment and will not try or advice anyone to focus on trading as that is exclusively reserved for those who have the skill set and the mind to handle the ups and downs that comes with trading.