Quote from: Mayor of ogba on Today at 11:40:36 AM

Quote from: Hewlet on Today at 05:22:47 AM

Quote from: Tmoonz on January 28, 2024, 10:52:12 PM

It's generally advisable to take a long term perspective when investing in Bitcoin and focus on the fundamental of the technology and it's potential growths.

the decision to go for either what you call long term investment which is HODLing or short term investment which I feel you're referring to TRADING depends totally on the individuals choice and experience.

For people that have mastered the art of trading, they might look at buying the DIP end HODLing it as a strategy for the inexperience ones while those that only buy the DIP and HODL might think that traders are high risk takers but the thing is more of focusing on what works well with you and sticking with it. The only issue is that because of the complexity involved with trading and the chances of a new person just starting his Bitcoin journey to experience looses more in trading than he will do in just Buying the DIP and HODLing is the main reason why it is more advisable for a beginner to start his Bitcoin investment journey by just accumulating it and Hodl.

Even people who have mastered trading still lose money while trading, which is why trading is not something a newbie should practice because he or she will lose his money. Of course, traders are high-risk takers because they will be making little profit from bitcoin by buying at a low price and selling at a high price in the short term. Which I think is not a good strategy towards owning a bitcoin because you might miss out on bitcoin when you buy bitcoin at a low price and sell it at a high price and still wait for bitcoin to dip so that you can buy it again, but the bitcoin price refuses to dip and keeps making an upward trend to the point where you cannot buy it again. It is not just for beginners to accumulate bitcoin, but they should make sure before they start accumulating bitcoin they have a source of income that they will use, like 10% of their income to accumulate bitcoin every week or month, and they should also keep an emergency fund to take care of their financial needs after they start their bitcoin accumulation journey with the DCA strategy, so they will not sell their bitcoins at a loss because there is no more money to take care of their financial needs.

Yes that is true, but isn't someone who has now managed to reach the professional point in the world of trading basically they also started as a beginner? of course and that means that maybe I would say that investing is for everyone but maybe not everyone can go through all the processes that exist in the world of investment especially in terms of difficulty and complexity and this is also the reason why there is the word "professional". In the world of investment we cannot rule out the possibility of risk because no matter if you are a professional there will still be certain times for you to experience losses and this confirms that losing money in the world of investment is a risk for everyone, but the difference is that a professional has a lot of experience that produces knowledge to minimize the possibility of risk, I mean they can minimize the amount of risk with the knowledge they have and this experience does not exist in a beginner but over time beginners can also be at this point if they are able to go through all the processes well.

Buying at a low price and selling at a high price is of course the common approach taken by most of the people involved to make some profit, on the other hand what you said is indeed highly recommended in terms of preparing a budget when one wants to get involved in the world of investment. It is advised that one should have a job that can provide them with a steady income if they want to get involved in bitcoin investing, not least because it is only with this preparation that you can get balance and peace of mind while you are involved especially in terms of budgeting, putting some for living needs and allocating some to your bitcoin accumulation and also you really need to put some to save as an emergency fund. The fact is that prevention is always the best course of action, right? of course and this emergency fund has an important role to minimize an unexpected possibility in the future when you find a situation that forces you to spend money, and with the emergency fund then you will be able to use this money to overcome your problems and on the other hand with this then you will not think of cashing in the accumulation of bitcoin that you have maintained, because on the other hand not infrequently we find investors who end up experiencing many distractions like this that can even make them fail, and this way will make it easier for you to maintain the DCA strategy which really requires good consistency to produce maximum profits in the future.