Quote from: Judith87403 on June 02, 2024, 06:51:29 PM

Quote from: JayJuanGee on June 02, 2024, 04:13:52 PM

Quote from: Dailyscript on June 01, 2024, 08:01:13 AM

The best step toward approaching investment in my opinion is; A source of capital - basic knowledge - investment goal - investment strategy - discipline - consistency. This process will lead to a successful investment, well tested and trusted.

Having various good (or best) practices in each of the categories increases your chances for success, but does not guarantee success. Maybe you should include learning and tweaking along the way as one of your practices, and also ideas about humility in order to not take for granted that any "correct" actions that you might be taking along the way is going to end up leading to the results that you expect.

Quote from: Lamkuthang on June 01, 2024, 10:22:30 AM

Quote from: Renampun on June 01, 2024, 08:31:46 AM

actually there is nothing strange about the phenomenon you mentioned, we are all aware and understand very well that the crypto market is very volatile, the coin you buy will not always experience an increase in price when you buy it, the price may go down and our attitude is what determines to sell or hold. Have you ever heard of the DCA method? Well, currently it is the investors who use the DCA method who profit, not the traders.

Personally, those 3 letters are quite familiar to my ears. Yes. DCA is one of the most effective and widely applied purchasing strategies currently in investing in crypto.

The crypto market is very volatile, that's what it's like and it doesn't make someone who already knows the inherent risks immediately leave because they can't stand it, but rather it becomes an opportunity to buy back.

That would be really dumb to DCA in crypto.

DCA in bitcoin works well, but not in crypto.. that is absolutely retarded to try to suggest it to be a good idea to DCA into any shitcoins, unless you happen to know quite a bit about such shitcoin, and even if you do, I doubt that there is actually any shitcoin that DCA would apply since with any shitcoin you need to be considering when to get in and when to get out. If your investment is long term, such as bitcoin, there is no need to get into specifics of your planning about when to get out, and you can consider various withdrawal strategies at a later date.. since the presumption that any of us should be able to figure out with bitcoin is that bitcoin has decently good chances of ongoingly going up in price (and value) and so that by the time we get to our period of considering any kind of a withdrawal plan (such as 4-10 years or more down the road), then there should be pretty decent chances that BTC prices/value is up in both nominal and real terms.

You have a point I wonder why somebody would even come up with such idea of using DCA on a normal crypto, I mean it makes no sense because is very risky accumulating a crypto which the future is unknown actually that's totally gambling because the chances of the shitcoin to continue growing may not actually be certain, so perhaps they shouldn't have the idea that since they can DCA on Bitcoin doesn't mean that they can also practice it on shitcoin because there is a huge difference between Bitcoin on those others cryptos and also he should understand that one of the reasons why we all focus on Bitcoin is because is the most reliable coin so even with DCA we are certain of the Road map because it will certainly continue to grow.

The thing you need to keep in mind is that the context of shitcoin is completely different than bitcoin because most shitcoins are short-term formulas that are highly likely to depreciate over time. DCA strategy is basically a formula specially made for Bitcoin which gradually decreases with the increase in size of stash of Bitcoin by accumulating over time and at the last moment you will see in your reflection buying dips which your profit amount is high. When it comes to investing, you should keep in mind which shitcoin you choose and start and withdraw your investment at the right time. It may not be easy for you to be perfect in your selection process so you may put yourself at more risk. But in the case of Bitcoin, only consistent and uninterrupted deposits are recommended for a long time. Accumulating bitcoins consistently over a long period of time is likely to yield higher profits in the future.