Anyone that is thinking about becoming an investor needs to realize they not only need a solid strategy they can use to make profits from the markets, they also need to make plans for all the negative circumstances they may encounter, circumstances like losing your job, a sick family member, your car breaking down and so on.
So having some money saved up in the case of an emergency is a must, with 3 to 6 months of living expenses being regarded as a good benchmark for most people.
Actually, it is not a solid strategy that is needed but rather a correct plan so that their investment can run smoothly. So, what do you mean by a solid strategy and isn't DCA the best compared to the others? Seeing investors who continue to learn from their mistakes certainly has the nature of improving their investment methods by buying on dips and holding them.
In terms of your expenses, whether it is for your living needs such as repairing a broken car or routine expenses such as expenses for your children while they are still at school, of course that is another thing that must be explained. What this means is that when we invest in bitcoin, of course the budget we put in is clean or no longer dependent on other needs, or more precisely, it is a reserve fund that we are ready to use to buy bitcoin.
That's what I say if we better budget 10% of our monthly income to invest. Because budgeting 10% of monthly income is easy for anyone if they have a plan to invest.