Post
Topic
Board Speculation
Re: Buy Buy Buy or Sell Sell Sell?
by
Mayor of ogba
on 21/12/2024, 12:09:02 UTC
Having a good discretionary income is very nice because that's what you use to accumulate Bitcoin and if your Discretionary income is small your Bitcoin accumulation will be slow compared to someone who has a big discretionary income however this may be defeated if you lack management skill, some people have good discretionary income and still find it hard to accumulate because they don't manage there income very well why some set of people have small discretionary income but because they have good management skill they accumulate with ease, so knowing how to manage your discretion income will determine how far you will go in your Bitcoin investment journey.
Of course discretionary income is the main thing and this applies to every investment and discretionary income is the remaining income after prioritizing important needs or other important expenses that can be used for investment without harming other needs, and this method if successful and done routinely maybe most people who use discretionary income who have income or salary every month will succeed in investing. And it doesn't matter whether they have a small or large income but if they do it consistently and continuously use discretionary income every week or month with long-term goals I am sure that person will succeed in any investment including Bitcoin regardless of big or small opinions but the most important thing is to do it seriously, disciplined and also consistent.
In fact, the best way to invest in Bitcoin is to invest in Bitcoin through DCA, and the most important thing to keep this DCA going is to have a source of discretionary income. Because no matter what percentage (depending on the amount of income) (small or large) an investor has to maintain it regularly for DCA. There is no need to worry about the amount of income being big or small, rather consistency is the main thing. So if DCA is done regularly, disciplined and with a long-term goal (at least for 10 years), then it can give you very good results at one stage, which can also be a life-changing success for you.
However, for this, when investing in the beginning, the mindset of greed should be eliminated, because a person who is greedy for money will not be able to maintain his investment, so greed should be eliminated at the beginning.
There's nothing wrong with being greedy in your bitcoin investment. I want you to understand that every investor doesn't have the same discretionary income; there are investors who have a good discretionary income, which allows them to invest in bitcoin according to their greedy level, and still sustain their bitcoin investment and hold it for a long term. It is when you use all your money to invest in bitcoin or when you invest in bitcoin way above your discretionary income that you will have problem in maintaining your bitcoin investment because you will lack money to solve your daily expenses, which will give you no choice but to sell your bitcoin investment prematurely to survive.