Quote from: Jewan420 on October 24, 2024, 01:30:02 PM

Quote from: sotelorene on October 24, 2024, 09:59:13 AM

Looking at the market chart is not really a bad idea or bad thing per say, as a matter of fact checking the market is what makes an investor to be updated on what is happening. If I may ask how will an investor know if there's Dip if he or she doesn't check the market?. Well everybody have there reasons why they check the market and the only time the market will look annoying is when one invested for a short period of time or you are gambling it but if you are for long term you need not worry because there's going to be b a pump, so the advantage of checking the market is to know when there's Dip and also keep an investor updated.

Looking at the market is not a bad or wrong idea. How can an investor buy Bitcoin without looking at the market? Looking at the market is not a bad thing for an investor but for a long term investor I don't think too much market review is a good idea.

An investor has little or no business with the markets, he should be more concerned with the price when making a purchase so he would know the amounts of fiat, stable coin he's to trade in order to purchase the quantity of Bitcoin he wants.

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Short term or a trader is different, their main job is to review the market. But more market analysis of a trader and a long-term investor results in two types of factors. When a trader reviews the market, his skills increase and he gets a better understanding of market movements.

You can take this traders guide to the trading discussions section of the forum and not distract investors with trader best practice and benefits. I believe you should focus more on Bitcoin investor practices to be useful in this thread.

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But I don't think a long-term investor needs to look at the market more than once or twice a day. Or even if he looks at the market three or four times a week to be aware of Bitcoin's position. But when you get too preoccupied with the price of Bitcoin, your goals can sink, which can prevent you from being consistent with your investments. I want to ask, since you are doing DCA or holding for long term and you have to buy series after a certain period of time no matter what the price, then why you focus on the market or review the market again and again? I'm not banning you from market reviews. You can review the market independently, but if you are a DCA investor I would suggest not to look too much and focus on buying.

Investing in Bitcoin is a strong decision taken by any investor and going for a long term is a standard for getting good profits on your investment. Whoever is determined as an investor is not disturbed with the price of Bitcoin, he or she should be more occupied with the possibilities of reaching their accumulation target within the planned timing. I check the price of Bitcoin and read news surrounding it because of my interest in it and my trying to understand recent developments and possible security updates so I can safeguard my investments properly. It's not bad tho know more about your investment choice or to remain updated on it's performance.

Quote from: Ruttoshi on October 24, 2024, 04:58:11 PM

However, if as your weekly DCA is ongoing and you have an extra funds, you can lump sum instantly to increase your bitcoin stash. If you have your reserve funds available, there is nothing bad if you buy at the dip to add more bitcoin in discount to your portfolio. It is good to mix these three strategies when you are capable of doing it or have the opportunity to do it, so that you can reach your bitcoin target quick.

This should be the main target of any investor and not the strategy employed. The major focus is reaching your accumulation target and holding for a longer time and not the strategy used and I'm kind of disturbed when I see people attaching more emphasis on the strategy more than the target, it seems to me that they're distracting themselves from the main goal of getting into the investment in the first place.

It's also important you employ a strategy or a mix of it like you rightly said that would help you achieve your target. Also such strategies should be employed so that you don't overstretch yourself while accumulating Bitcoin, but do what you can within your means and with your discretionary income only keeping your focus on the accumulation target you set for yourself.