Re: Buy the DIP, and HODL!

To me I actually think that having an investment goal is quite appropriate because as common man that just want to secure his or her future true Bitcoin, he just have to accumulate Bitcoin true the DCA method still he is satisfied with his or her current holdings, so when that target is met, the next question he should be asking himself is when is he willing to sell, like the numbers of years he is willing to hold or the amount he would be selling if the price of the asset in his possession reach that particular amount, so to me, investment goal should be made a priority, like if you are buying Bitcoin for retirement purpose, it's still good, as long as you have a specific goal in mind, because not having a specific goal in mind sometimes makes you act confused concerning your investment sometimes, because you don't have a specific vision before investing.

Before investing in Bitcoin we need to have a specific goal and plan. For example suppose many people invest in such a way that they want to invest weekly or deposit bitcoins and there are many people who want to deposit bitcoins monthly even their amount of money is different. Everyone's Bitcoin investment plan is different, some may want to deposit more bitcoins and some may deposit less bitcoins. I think those who don't have a specific goal or plan about their investments are either haphazard and can break or sell their investments at any time.

So before we invest we need to focus the goal and set a specific time frame for how many years we will hold our investment and accumulate bitcoins accordingly. If we can set a specific time frame for our bitcoin deposits and keep depositing bitcoins every month or week accordingly, maybe our investment will gradually increase and we will be able to reach our specific goal.

Planning with a clear vision is easy but implementation is difficult because there are many things involved in the money you earn.But DCA strategy for depositing bitcoin is very easy to implement on daily or weekly or monthly basis. The desired investment success from bitcoin depends on proper and well thought out planning. Long-term investment planning is the key to bitcoin success.

That's why it's very important to have a clear goal in mind before venturing into Bitcoin investment because their are so many things that needs to be in place strategically for you to be able to hold effectively, something like having an emergency fund and also having a source of income so as to be able to sorts out your pressing financial needs, and you wouldn't have to look at your investment at any pressing financial issues, because while Investment is a different thing, holding on to your investment is another thing altogether, so it's very important you prepare for the unforseen circumstances that may affect your investment in one way or the other, so not having an investment goal is not a nice thing as an investor that intends to be successful.

There is no investment without a goal. This is because goals help to make inclined decisions so that an investor can achieve the mark. Investing without a goal in mind is really problematic and i will tell you why.

Each time an investor starts an investment without a goal in mind. It will be difficult to adjust to reduce exposure to risk. Of course there is this risk appetite that comes in between our investment period where we think of taking more risk so that we can increase our portfolio. Without a target we would consider taking those risks but when we have a goal in mind we won't because we do not want to hinder the plans made to meet our goal.

Also, not having a goal in mind can bring about indiscipline, unfocus, and the anxiety to start tempering our investment when there is a little profit. Life events cannot be stopped, sometimes it triggers investors to take some profit out of their investment which will affect the portfolio. But for an investor with a goal it cant affect your investment. This is because you will take the money from your savings or emergency fund. Having a goal in mind keeps you prepared for your savings and emergency fund on the line so that when unknowingly things happen you wont be left with no choice to dip hands into your investment

Goals are essential, when it comes to investing not alone Bitcoin. The first thing we have to consider during Bitcoin investment is setting a budget, this is called placing our goals and we should be able to emphasize our interest on achieving all of it, this goals does not come on an easy way, it takes a lot of sacrifices and dependency that will try to corrupt the mind into backsliding and letting out our determination. The moment an investor takes out any portion of his investment too early in order to tackle few challenges may show a bit of his incompetency dealing with his investment planning. Taking loan money or investing too much than what is due it's harmful and may lead to poor decisions as a person would need back the funds invested which means selling out part of the investment to cover up the debts or problems and this is totally a wrong approach and goal setting.