EarnOnVictor seems to have hostility to DCAing and hostility to consistently buying BTC.
Hostility to DCA? Hahaha...Are you for real???
Yes, I am for real, and I stand by the assertions of my post.
No reasonable person can be hostile to a lovely investment strategy like DCA, but the issue is that most of the guys here are too lousy about it as if it is the only investment strategy that exists and they often rubbish anything that is not DCA, that's ill, I don't fake it.
I don't mind the idea of teaching guys about other strategies, yet they have to realize that there are trade offs, and that DCA tends to be the best towards setting up good bitcoin buying habits and getting accustomed to buying bitcoin regularly, consistently, persistently, ongoingly, and perhaps even aggressively. It can take a bit of time for guys to get into such habits, to get used to managing investments which also is assisted by good cashflow management practices.
Good cashflow management practices and establishing and managing back up funds tend to be way more important than buying on dips, and surely trading is problematic and even selling is problematic, and I have no problem with the idea of buying on the dip, yet even buying on the dip might not even be very helpful for newbies to bitcoin and/or newbies to investing, since newbies likely need not be making their bitcoin purchases based on trying to strategize about the BTC price, especially not in the beginning.. and perhaps once they get certain systems in place, or if they have already accumulated decent amounts of bitcoin, or if they have strong discretionary income amounts (or even large amounts of starting capital), then those kinds of guys would be in a better position to consider the possibility of incorporating some aspects of buying on dip strategies rather than just buying right away or even staggering out their initial capital investment into bitcoin based on a DCA approach.
I agree totally here. After taking the time to read through the conversation i have to be honest here that anyone can choose to adapt to whatever strategy they feel suit them or matches their risk management because i think most importantly it is our financial capability we should be looking most especially when we want to adapt any Bitcoin investment strategy. Someone with low finance cannot Lump sum because he has to wait for a long time to gather up the funds before investing and that will be a terrible thing to do. If EarnOnVictor DCA isn't a suitable strategy for him to invest with he can choose any other strategy that best describe his status. That does not have anything to do with what other thinks about DCA.
The reason why we more about the DCA strategy and sometimes buying on the dip is because both of them can be carried out without hindering the other. And DCA is more the easiest strategy that i can say fit in everyone financial level. Even a newbie can start investing using DCA without getting bothered how he is going to gather up funds to accumulate more. It will him take him a gradual process what's more important is that in the end if he is consistent, he will end up having a good amount of Bitcoin in is portfolio.
Normally aside from Bitcoin investment, anything investment it is ideal that we should not start an investment we cannot reach the goal. I will be directing this instance to EarnOnVictor; Imagine starting an investment with a strategy that later on the investor can't continue or keep up with.