Bitcoin Forum

Though -4.9% loss so far, I believe I'll make profits soon!

https://i.redd.it/res18v6s4vb31.png

DCA is a respectable enough strategy, especially for a newbie, but it's important to optimize your buy-in range. Where did you start buying?

Since selling momentum is still quite strong on the higher time frames, I'm expecting a revisit to $9K and possibly lower. I might start scaling back in at $9K but it's too early here in the $10K area. I think there's still plenty of time to wait this correction out.

While you could definitely make profit in the short term, don't count on it. It pretty much could go either way. Remember that this is a long term game. Because that's the main reason why you're DCA-ing in the first place, right?

Anyway, if you do this for years, chances are, you're probably going to make money. This is without guarantees though.

I started buying from $11000, and now the average buy price is still around $11000, cause the BTC price fluctuated from 9500-14000.

Haha. I believe I can make money after several years, so that's why I started to DCA.

You can try this site[1] out to check how your portfolio would've performed if you instead started your DCA in certain price points. Probably wouldn't help you, but just a cool tool concerning DCAing bitcoin. :P

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[1] https://dcabtc.com/

I've tried this site before, and it seems that the profit calculation is not so accurate because some data after June is missing. Now I'm using www.pionex.com (http://www.pionex.com) to DCA.

If I'd done cost averaging when I started buying I'd have one hell of a lot more coins than I have now.

Plenty of knobs here will tell you to 'trade' or go all in at one moment but they've probably completely fucked themselves doing it and want you to join them in pure, screaming hell.

No one knows what's going to happen. That's why I at least think it's better to spread out the uncertainty.

DCA is an excellent strategy for long term investment. However, it is only beneficial in short term when the price fluctuations are high. It won't help you much in short term if the price fluctuations remain within 3% to 5%. But yes, it will help you in long term if you can efficiently identify the most opportune times to invest.

first you should know your trading type ( day trade , scalper , or bag holder )
let say you are trader and day trader and now you are lossing your fund becuase wrong entry position .
imo* at trading activity loss 10% is just usuall thing so if you loss 10% you should making 10%++ to recovery your fund . yeah easy to say it but you can using compund method that will be very usefull to managing your fund

Agree with you.

Yes. In short term it cannot help me, so I also use Grid Trading Bot to help me earn the short term profit.

Following DCA method strongly has benefits, you will feel nothing to panic. You can have the lowest average purchase price per unit. I am not aware of many models though but DCA is something logical and followed by lots of people.
I am not following it though because I am still a noob to myself.


Cool site. Thank you.

DCA is not really a "strategy" that is like technical analysis or chart reading or whatever. But its actually good idea to keep buying, not only when dropping the averages but also increasing as well. Because even when bitcoin is going up you should hoard as much as possible since we believe bitcoin will go up a lot in the future.

Maybe not today but in 5-10 years that strategy will give fruits. That is why buying bitcoin is a good idea when its going up, but its even better when its going down, there is no better strategy than getting as much bitcoin as you can afford and not selling it in any case whatsoever.

I have done DCA couple of times during the 3-4 thousand dollar area but I have spent all my money during those days so now I have not much but if I did I would buy now too.

And it's all the better for it because of that. There's so much shit spouted by people demanding to be taken seriously and it's a great shame if newcomers fall for their crap.

Cost averaging is a neutral, patient and unemotional strategy which is exactly what more people could do with in this space.