Quote from: Popkon6 on Today at 01:12:28 AM

Quote from: boyptc on January 24, 2024, 09:10:18 PM

Quote from: Odohu on January 24, 2024, 08:15:07 PM

Like many people have already said, investment fund should be separated from funds for basic needs thereafter emergency funds should also be kept for optimal management of the investment portfolio. This way there will be no pressures to sell even if the price drop because there is the confidence that Bitcoin will always recover with time.

I agree.

Because what happens when your entire investment like if you're holding Bitcoin is your entire wealth, there is a big tendency that you will be forced to sell it at a time that you're not willing to sell but you have to.

That's why when we invest, make sure that we've got funds as well like emergency funds or extra funds that will be touched and protect our assets like in Bitcoin if unforeseen times comes.

Our aim should be how to make our investment long-term, for long-term holding we are given ideas about different strategies. We will usually invest long-term so no bitcoins will be withdrawn from here (the original hold bitcoins) but deposited.

Everyone has their own strategies for investing and holding investments for a long time. Everyone's strategy for investing and holding the investment for a long time is not the same. One strategy may seem difficult to one, that strategy may be easy to another, but all of us who are investors should adopt our own strategy in holding the investment. There are two difficult steps in investing, firstly investing in the first step and holding that investment for a long time. Just like going to a new place or joining a new job, the first day is a bit difficult for us and we feel nervous, the first step of investing is a bit difficult. We think we should wait more till the first phase investment now is not the right time but after investing the first phase all the fears and apprehensions inside our mind go away.

Secondly, it is difficult to hold the investment for a long time because after investing, various challenges will come and many times one's mind will say that the investment should be sold.

Quote from: Popkon6 on Today at 01:12:28 AM

We have to make our investment decisions with external sources of income. If you are dependent on the original holding then your holding will not be long-term by any means. Here's why your holdings can be sold in the pursuit of scarcity (these discussions are important if you adopt the DCA strategy, you can get rid of all these hassles, and your investment will be long-term).

There are many investors whose only source of income is their job and if they have no alternative source of income or additional source of income beyond their job salary then how would they invest. You may mean to invest the amount of money that is left every month from the portion of income that a person earns every month. Yes, it is certainly true that an investor should invest the amount of money left over after spending, but the remaining amount or some amount must be kept by the investor as expenses and then the remaining money should be invested. Because if the money is not available for one month, after a few days the investor will sell the investment again for his own expenses, so it is better to keep some money aside in advance instead of selling the investment later. If the investor invests in this strategy and wants to hold it for a long period of time, he can definitely hold the investment for a long time in this strategy.

Quote from: Popkon6 on Today at 01:12:28 AM

Those who have a physical source of income will be able to participate in the investment with additional money. Investing in the DCA approach helps to absorb all types of risk. Never think of selling holdings as it can ruin you. Avoid selling holdings and benefits.

DCA investment strategy has made investing much easier for an investor. In this way the investor gets the opportunity to invest as per his wish very easily. But the investor should keep in mind that he is investing for a long time so he should focus only on how to grow the investment and not on selling the investment. Even if the investment is relatively low, there will be no problem when the investor continues to sell the investment.

Quote from: Cryptoprincess101 on Today at 02:49:02 AM

Quote from: Popkon6 on Today at 01:12:28 AM

Quote from: boyptc on January 24, 2024, 09:10:18 PM

Quote from: Odohu on January 24, 2024, 08:15:07 PM

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In other to be determined to succeed as an investor it requires discipline because if you are not disciplined then you can't really hodl for a long term because sometimes there might arise some circumstances whereby you are left with no choice than to tamper with your holdings maybe simply because you don't have an alternative funds that can sort issues at any challenging time and as a long term investor who is determined to accumulate as many bitcoin in your portfolio you ought to make sure that your income doesn't only generate from one source such that in a situation whereby the basic income you used for DCA doesn't come as regular as before, you can easily switch over to your other source of income to continue the DCA pending when your normal source of income reinvigorates.

You are asked to create additional funds in advance so that you do not have to interfere with the investment after the investment. Just as you are investing regularly, try to build up an additional fund regularly. Besides investing, when you have extra funds, you can meet your needs from those extra funds. You may ask me how low income people manage their investments as well as build an extra fund of their own. If you ask me such a question, then I will tell you that people's expenses depend on their income, that is, their needs and their needs depend on their position. If the income is less then he will invest less amount and save less amount, hopefully he will be satisfied with this and he will be able to meet his needs from the additional fund he will create.

Quote from: Cryptoprincess101 on Today at 02:49:02 AM

Having diverse source of income will help never to miss out at any intervals during your DCA because you're already sure that if plan A doesn't work out then plan B will actually work out and this are good qualities of an investor who wish to hodl for a longer period of time and before you know it you have already acquired enough Bitcoin in your portfolio afterwhich you can decide to sell some part of your coin at a higher price.

I don't have any alternative plan in terms of investment but I just want to do the right thing with the plan I have. Multiple plans may cause problems for me but if I have only one plan I will definitely try to do it properly. My plan is to invest and maintain a consistency of investment as well as hold that investment for a long time, hopefully I won't need multiple plans.