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Author Topic: Does the DCA strategy inspire newbies to invest?  (Read 5233 times)
Derekfunds
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Today at 04:18:04 PM
 #561

If one has understanding of DCA then he can defiantly tweak it to get profit even in short duration.
A brand new investor shouldn't put making profits first when he starts his bitcoin investment so that he does not get carried away with little profits and lose focus on his long-term bitcoin investment goal.

 You should invest in bitcoin for your future and not in a short term even if you see profit in your portfolio because the longer you hodli your bitcoin portfolio and DCA overtime, the higher your profits in future. Don't because of little profits and turn into a trader overtime. This is why when you're DCAing, you should have a bitcoin target and do it consistently and persistently till you have reached your bitcoin target.

If an investor prioritizes income, then he can sell his Bitcoin only when the price of Bitcoin is slightly higher. This will not allow him to succeed, it will create the biggest obstacle to success, but a person must plan for the future as expected and continue his investment in a long-term manner.
But I say to a person, you will continue to invest in your Bitcoin until you accumulate one Bitcoin. This will make the plan successful and possible to keep for a long time, so create this mindset and follow the DC and method regularly until you accumulate 1 Bitcoin.

Although it seems a bit difficult to me to accumulate 1 Bitcoin, we should always hold on to our investments for as long as we can and grow our portfolio as much as we can within our financial means. It is not that we have to own 1 Bitcoin to be successful in Bitcoin, because it is a huge amount of money, you keep accumulating, take a challenge of ten years, and continue to invest a certain amount of money continuously for the next ten years, and never decide to sell in between, even if you do not accumulate 1 Bitcoin, even if you accumulate 0.5 Bitcoin, it can still create a very good financial foundation for you in the future, because if Bitcoin reaches $500K in the next 10 years, you will own $250K, which is a huge amount of money, This is just an example, it could be more, it could be less, but we should definitely maintain long-term investment.

Our target and goal should be something we can actually get or achieve and not something that will drain us or make us depress and frustrated. The reason some people don't make it or the reason some people don't become successful in their Investment is because they always set a target that will so stretch them and they will end up not reaching it but it is better to set something reasonable and achieve it than something so big or huge and end halfway in quest of trying to get it. 1 Bitcoin is a long mile so it's good to know your capacity and don't competite with people.

 
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MusaPk
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Today at 05:53:30 PM
 #562

A brand new investor shouldn't put making profits first when he starts his bitcoin investment so that he does not get carried away with little profits and lose focus on his long-term bitcoin investment goal.

You should invest in bitcoin for your future and not in a short term even if you see profit in your portfolio because the longer you hodli your bitcoin portfolio and DCA overtime, the higher your profits in future. Don't because of little profits and turn into a trader overtime. This is why when you're DCAing, you should have a bitcoin target and do it consistently and persistently till you have reached your bitcoin target.

We have to control our emotions not only in situations when price goes down and our portfolio is in negative but also in situations when price goes up and we see some profit on our portfolio. Its possible that I buy bitcoin at present price of 64000$ and within a week or month price go up to 70,000$, many get excited in such scenarios and start selling there Bitcoins for very small profit. They are actually doing there loss by missing out bigger piece of the cake. Invest in bitcoin and hold for longer duration to get financial independence. 

Powerjumboo
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Today at 06:46:59 PM
 #563

For new investors, it is safe to start with small amounts and gradually move forward with the DCA method, but you need to be careful whether there is any left after deducting the necessary expenses. If you do not manage your cash flow, even small amounts of money can be lost. It is better to make small transactions at first until you gain sufficient knowledge about the exchange, wallet and Bitcoin system. If someone wants to buy, say $10 per week, then he first needs to know how much money he has on hand after his expenses. It is not necessary to know everything before starting to invest, but it is wise to have a basic idea.
Of course it is important to have basic idea before starting investment because without basic idea one can never invest properly. There are many people who are interested in investing but they don't know the right rules of investing due to which they can't invest properly and keep it for a long time. But I would like to say that one should invest the amount of money that can afford to lose money and should not invest any money especially for urgent needs. There are many people who invest money in bitcoins for urgent needs and when the need comes, they don't end their needs until they sell these bitcoins. That's why I say every investor should not invest emergency money in Bitcoin.

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