Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Winterfrost
on 14/03/2024, 04:24:00 UTC
⭐ Merited by JayJuanGee (1)
.... disciplining oneself to have a good psychology, inorder to build a good portfolio .

I think that if you are able to put your finances in a comfortable place, then you likely do not need as much discipline regarding the psychology, and the psychology will follow from having your finances in good order, and also psychology follows when you have built up a good sized BTC stash and you are in profits.. but until you get to that point, your building of your financial systems should be helpful in terms of giving you peace of mind that strengthens your psychology.. since you will more likely have systems in place in which you are prepared for the BTC price to go up or to go down or to go sideways.
this is absolutely true.
At every stage of your Bitcoin accumulation journey, there are major factors that could stand to bother you.

At the start, it's more of sorting out the right plan to work with which is basically a function of  your financial strength and you might just need to decide if you're financially strong enough to buy in bulk or settle with the DCA method and when doing this, there is really no need to bother about any sort of emotional or psychological whatever. You have to face the visible fact that your finance is either strong enough to buy in bulk or isn't.

At the point when you've accumulated a good amount of satoshis in your portfolio and then the market is bullish and you're also at a good profit, this is when you've got to work your emotional and psychological prowess that will help you become disciplined and patient enough to building a good portfolio. It's not always an easy thing to keep your emotions in check when you're in profit and what some persons would normally do is to sell out some of there and and reinvest it whenever there is a DIP. But the issue has always been if the market will go as DIP as they would normally expect it to and the obvious answer is , even if it doesn't, as long as you're buying to hold for much longer period of time, you're definitely going to be in profit.