Quote from: Justbillywitt on Today at 06:11:29 PM

Quote from: sotelorene on Today at 12:40:48 PM

Dude you are sounding like trading is a crime which is very wrong and again the way you are emphasizing on it can make someone who's into trading look stupid.

It hasn't been said that trading is a crime, I think you are just the person making that up. I think that the message he was trying to pass across to you is that a valuable asset like bitcoin shouldn't be subjected to gambling in the name of trading. It should be something that if you manage to accumulate it, you should hold it for a long time.

Quote

after all I have seen someone who's trading and at same time doing investment and trust me everything is going smoothly for him and I keep asking myself how is that possible and then realized that everything is about mindset and having the ability to make it work. not that he doesn't make loss off cause he do make loss.

Someone who is an addicted trader can hardly keep his or her bitcoin for long term. Because the moment he sees a little profit from the one he said he is holding for long, that trading mindset of quick profit will set in and make him sell it off, with the hope of replacing it later. As a trader you will find it difficult hold bitcoin for long the way a long term investor will hold it. There is no in-between it's either you are a trader or an investor. So let's stop deceiving ourselves. When we say long term we ain't just talking about one or two years here, we are looking at somewhere between 10 -20 years and above. Someone who already has the trading blood in him will struggle to hold bitcoin that long. No matter how you try to refine it, a trader is a trader.

Exactly... long term and investing is likely 10-20 years or more, yet frequently we refer to 4-10 years and above in order to include the possibility and consideration that there might be some people who might have shorter time-frames due to their age or their health or perhaps some other kind of life event that might cause them to have to sell in a shorter timeline.. So young people who are saving up bitcoin in order to take short-to-medium profits, are not thinking long term, and sure there are likely some intermediary ways to consider your bitcoin holdings, such as wanting to buy a house in 6 years or some kind of consumption good like that - even though many of us have probably realized that it is not good to sell all of your bitcoin, even if you might end up cashing out large portions of it based on some personal living goals..

There are other folks who are coming into bitcoin and wanting to play a 1-3 year timeline in order to play the wave, and surely some of them might come in with an already known need to get the money back within their 1-3 year timeline (and that might be considered more of an attempt at a trade), and yet there may be others who have enough flexibility in that if they do not see a certain level of dollar profits within their expected timeline (or even if they are in the negative), they are not going to sell, and they are going to extent their timeline in order to at least make sure that they are at a certain level of profits in dollars prior to selling, so those can all be acceptable practices to have some dollar based targets, even though they might not be as lucrative in the long run to take advantage of compounding value potential of bitcoin, and so surely some folks might regret cashing out so much BTC early, and others will have had been glad to enjoy their dollar profits even if the dollar profits might end up being way smaller that what would have had been available upon having a wee bit more patience and exercising a wee bit longer timeline for their BTC investment.

There are surely trade offs for differing strategies, and surely some folks might come into bitcoin and then decide to just increase their timeline, yet a more common mistake is that a lot of folks get too impatient to sell too much too soon, and then they come to realize later that they really did not need to sell so much BTC so soon instead they could have had waited it out, but they could not resist consuming and enjoying their profits earlier, even though could have had way more profits at a later date and even been in a much better financial and psychological position.

For example, think about many of the guys who might have had bought BTC between late 2013 and early 2017, and even if they did not buy BTC at the exact bottom and the spread their buys out, they could have had average BTC costs of anywhere between $250 and $1.2k, and maybe if they had invested anywhere between $12k and $30k, they could have had anywhere between 10 BTC and 100BTC, depending on the timing of their various purchases. So sure they might have been able to sell various BTC towards the top of the 2017 BTC price run up to $19k per BTC, yet if they sold a bunch of their BTC or even close to all of it, they would have never been able to get buy back those BTC at the same prices that they had previously bought them, and so surely the more BTC that they had, then the more cushion that they would have had to work with, but they still might have had ended up regretting if they sold too much too soon, even if maybe they might have stopped accumulating or engaged in other maintenance of their stash practices..

One of the better practices would have had been to continue to build for the ones with the lower level of BTC, and for the ones with the higher level of BTC to be careful regarding how much of it to be selling, even if they might have felt that they had largely accumulated enough BTC.

Quote from: bitzizzix on Today at 06:28:50 PM

Quote from: Promocodeudo on September 29, 2024, 10:39:36 PM

Quote from: JayJuanGee on September 29, 2024, 09:13:02 PM

You seem to be contradicting yourself Promocodeudo, especially since you are proclaiming that DCA is the best of strategies for newbies, yet at the same time you are saying that there is a need to have money available for buying BTC on dips and also to be able to lump sum buy on dips.

If a bitcoin newbie is actually employing active and aggressive DCA, then he is not going to have any money left for buying on dips, and especially he is not going to have lump sum amounts available that he would be saving for buying on dips.

Sure there are ways to combine the strategies, and even newbies could choose to hold back some value for buying on dips, and anyone could receive a lump sum amount of money at any time, and they could be fortunate that the lump sum amount comes during a dip period, yet even with the dip period, we cannot necessarily know if the dip is done or if there might be more dip coming.

@JayJuanGee thanks for clarifying me on this, I now understand that lump sum amount can be received at anytime not necessarily during the dip though the investor can be lucky to receive a lump sum amount during the dip, I stand to be corrected, I forgot that once an investor is using DCA method aggressively to accumulate Bitcoin, he or she will be left with no spare amount of money to buy during the dips since the method permit us to buy anytime including the dips and there won't be means to save up a lump sum amount to buy during the dips too unless the lump sum amount was dashed from friends,family unexpectedly or from business which may not also be during the dips.

Yea that true, no one can ascertain if the dips is done or not as you said and thats more reason why people shouldn't wait further delay their journey in Bitcoin investment, the statement I made earlier was as result of not knowing that that there is no need for a newbie or anyone applying DCA method aggressively to think of buying the dips since DCA method allow us to buy continuously steadily and slowly including during the dips and when the price soars.

Yes, actually buying at once when the Bitcoin price drops is actually not a bad thing as long as it is intended for the long term. However, it would be better if you do the DCA method by continuing to make purchases gradually because this allows something much better if the Bitcoin price continues to fall because in the end the price will go back up and you will still have reserve funds to keep buying it which can produce better and bigger profits in the long term. And this DCA method is very good for beginners and all the advice given by @JayJuanGee is indeed good and I always read and evaluate his comments and all of them make sense and are also true for the good of everyone especially beginners.

Many of us do not employ DCA for the purpose of believing that the BTC price will drop, but instead as a decently good form to manage cashflow and also to potentially redistribute (or reallocate) from one asset to put a higher percentage of value into another (in this case bitcoin) without having to sell much or even any of the other asset.

Also, DCA is not the same as buying on the dip, so we are not employing DCA in order to buy on the dip, and if we are striving to buy on the dip, then we might have other money that is set aside for those kinds of buying on the dip purposes.

For the very beginner, it might not make a lot of sense to hold any money back for buying on the dip, and even they could already have a plan that they are going to invest a certain amount of value on a weekly basis for a certain period of time, which could be even attempts at front loading their investment, or they might want to hold back some aggressiveness since they are wanting to continue to study bitcoin before they start to become more aggressive in their investment into bitcoin.

I tend to believe that anyone who might choose to lump sum invest into bitcoin in the very beginning, then it may well be a good idea to hold back some of their lump sum amount for either DCA and/or buying on the dip, just in case there might be a dip, yet the reason that they would be holding back some value is based on their already having had invested part of the lump sum right away.. so then their own calculation still has to deal with how much to buy right away versus how much to save for buying on dips versus DCA.. and they also would have to decide on how much of a dip they would need to employ other parts of their already existing capital and how long to spread out their DCA, whether it is spreading it out over just a few weeks or maybe over several months... there are trade-offs with placing money into any of the BTC buying methods, and as long as they appreciate the trade-offs, they should be able to figure out how they want to allocate the lump sum of value that they have to start out with with a realization that no matter what they do it is not necessarily going to be perfect, so they are just finding a comfortable balance in terms of how to both get in with their initial sums and then to perhaps also have some strategies going forward that could include both DCA and buying on the dip practices.