Quote from: JayJuanGee on Today at 06:06:02 PM

Quote from: Justbillywitt on Today at 05:55:28 AM

Quote from: Hewlet on April 15, 2024, 03:17:02 PM

[edited out]

I think the best thing to do is to determine your own dip percentage, that you will like to see in the market, before any dip happens. The level of dip you want to see before you engage in market, let's say you want to see 10% dip from the market before buying, all you have to do is calculate the price that bitcoin will be when it ships 10%. When you have gotten the price, you go to your exchange and set a buy order and leave it. If bitcoin dip to that price range your order will execute. This will help you not to be confused as you have already determined before time the level of dip that will be okay for you to engage. If it dip further after your order has been filled, it's no longer your business, as you have achieved your target that was set before time. If it didn't dip to the level you were expecting, you have nothing to lose, you just continue with your routine DCA. But for me I think it's important to know the % dip you are expecting to be able to utilize the opportunity when it comes.

You are exactly correct Justbillywitt. It is very helpful to establish your dip amount in advance, and you could have several buy orders set just for that, or you can determine after each time your dip order is filled if you want to set another one.. so that you just do them one at a time. Of course your specific situation will help to dictate what is most practical in terms of how much to set aside for various dip amounts... for example you could have $1k that you are holding for dips, and you could have $333 for three orders at dips of 10%, 20% and 30% or you could set them for $100 every 5% dip, which would take you down to 50%. . or of course, you could set the whole $1k for a certain amount or you could manually set them each time it gets filled, you determine where you would put the next one with ever amount that you have left in your fund.

Of course, for brand new folks into BTC, there would be a preference to emphasize DCA rather than buying on dips, yet it seems many of us recognize that buying on dips could be a decent way to supplement that DCA practice, yet at the same time, keeping a lot of buying on dip funds might not be a good way to manage funds, especially for guys who might not have a lot of funds to work with in the first place.

You are right JayJuanGee, folks that are new in Bitcoin accumulation should focus on using DCA strategy expecially those that don't have much cashflow, so that they would able to face their financial situation when accumulating. But for someone with some nice cashflow can actually make use of the setting of orders method to buy the dip, because the fact sfill remains that we can't predict the market movement. In the process you're actually spreading your reserved funds in purchasing the dip, jus like what you said some one having $1k as reserve funds he may decide to use $100 to buy every 5% Dip , like in the form of DCA which is actually nice because we can't actually tell howfar the dip would be .