Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 22/05/2024, 03:12:32 UTC
⭐ Merited by ultrloa (1)
One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accummulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.

Yes.. that is a fairly good point to highlight I_Anime.. so in the beginning if a newbie investor tries to be be a bit aggressive or even a bit overly aggressive in his investment into bitcoin, he might feel good for a while, but he is not going to be in a very good position if by surprise he finds out that he was actually too aggressive or even that he had put himself into a kind of emergency status because of his over aggressiveness.

So many times people will suggest that getting into an investment is better to error a bit on the side of some level of conservativeness which means less aggressive and perhaps even a bit whimpy until you get used to the fact that you are trying to set up a system in which you will never ever need to dip into your bitcoin investment before a time of your completely own choosing, which surely may well be 4-10 years or longer.

If people are not used to investing, by fault they might become a bit overly aggressive in terms of considering that some or all of their bitcoin could serve as a kind of emergency fund in the event that mistakes are made, yet surely that is not a very good way to invest into something as volatile as bitcoin.. so if the thoughts are that none of the funds that are invested into bitcoin can be touched for 4-10 years or longer, then that kind of a mental framework might be helpful in terms of investing a bit less into bitcoin while building the various other systems of emergency funds, reserves and float, and surely once those are decently in place and have been practiced for a while, there may well end up being abilities to become more aggressive with the disposable income that is then coming in, than would have otherwise been possible without having those various systems in place and without having some periods of practicing your systems and getting good feels for where the boundaries are.

Replying to @red4slash
Sure there are ways we can record our ongoing investments and it has been brought up and confirmed to be helpful so many times even more than just for knowing how much we have invested in bitcoin, this can also help us go back to repharse or steps and know where we have made mistakes and apply correction in our future plans, you can use an excel software to keep record of your investment actions or I myself I use a journal, but once I have a laptop as i planned to get one even if I have quite been unwilling to get one I would start using excel for that purpose, I just seem to enjoy the traditional pattern of keeping record.

Surely having a computer and being able to use various computer programs, such as excel, can be very powerful in terms of helping you to get to higher levels of analysis in terms of manipulating your data and/or changing some of the variables to be able to project forward in a variety of ways.

Surely you can also do several of the same functions with paper and pencil and maybe even some of the ideas might make more sense when they are on paper and even spread them out and look at your various notes in which some of them you might update regularly and others you might use to model out and/or get better understandings.