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109 sats \ 7 replies \ @siggy47 27 Aug \ on: How Is buy and hold the best strategy while investing in Bitcoin? bitcoin_beginners
What @Undisciplined said. Remember too that you are looking at anecdotal evidence from a short time period, and you are also assuming you would have perfectly timed those sells and buys. Don't forget the emotional factor. Who's to say at 49k you wouldn't think, man, wouldn't it be great to buy at 45k. Next thing you know it's at 58. I learned these lessons when I used to play the stock market. Next, you'll be tempted to use leverage to increase the size of your bag. Then you could get liquidated with a sudden move. It's your choice. Just consider everything beforehand.
Thank you sir!
I don't believe in leverage at all. I'll never fill my bags with that.
Yes, there's risk of selling at any point of rice. Bitcoin jumps too fast and slides back too fast as well. I've learnt that trading is not for emotional people.
Because I'm very new. Can you please suggest what and how should I increase my stack in time before Bitcoin becomes standard.
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While doing DCA, my strategy has been to navigate through the volatility.
I always divide my funds in two. One is for regular buys and one for when the prices fall lower. For example, I would buy on 1st of every month with half of my funds on whatever price is there. I'll buy with rest of the amount when prices are lower in the month.
Sometimes, if they don't fall below the first buy price, I hold my funds to buy in the following month, lower than the first buy of that month.
I've been lucky to always work this strategy in my favour. To talk about last four months, I held half of mu funds because I didn't get the lower price. I fortunately got in at 51 k this month.
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I don't need to scrounged around as I always put aside half of my total funds for the dumps. This has really worked. I highly recommend you to try it.
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Try it! It's worked for me. This month is a great example.
Since March I've been buying with half of my buying funds on 1st. Half being put aside in hope that I could get lower prices than that. But not happened in April, May, June and July. The patience is the key. August saw a major dump and at 51k, I went all in. I got nearly 50% more sats than I could have had without this strategy.
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