Does the DCA strategy inspire newbies to invest?

[PERtua]

Being concerned with knowing when to buy and sell is the behavior of a trader and not that of an investor. With DCA you don't need to have a specific time to buy, you're expected to buy consistently irrespective on price and keep stacking until you achieve you're accumulation target. If you're entertaining thoughts of buying low and selling high, then you're getting it all wrong, you cannot know if the market would actually touch your expected low price and it it doesn't, you keep waiting and missing out on opportunities to keep expanding your portfolio and you might even end up with fewer coins on the long-run. If you keep capping profits from your portfolio anytime the price goes high, then you're depreciating it and not showing it to grow well. These actions would jeopardize your investment journey on the long-run because you're acting more like a trader than a serious investor.

The best approach is to keep buying and holding, don't sell your coins prematurely, it's better to go long-term in it and initiate sustainable withdrawal strategies when you've arrived at a large enough stash that you can live off it.

I don’t know why most people just make investing harder for themselves than it should be, by changing their strategy any time the market move. A simple solid plan combined with patience to stick with it can make a big difference over years. Just continue to make responsible decisions consistently.

I agree with you, just focus on one strategy instead of switching any time the market move, it looks like the goal or intention was not clear from the start. One should be prepared for any strategy they choose to go with and focus on that because volatility is surely bound to happen and always switching might make one not accomplish their goal and experience an unexpected loss.

An investor should first create a stable strategy and maintain investment and holding through that strategy, if you invest with weak commitment, it is likely to fail. Therefore, from the first stage, you should use a stable strategy with a stable goal, and continue investing firmly until that goal is met. If you cannot move forward with such a stable mindset in a volatile market like Bitcoin, then it is not easy to succeed. You cannot move forward risk-free with any strategy, various obstacles will come, but despite all the obstacles, you have to stay focused on your goal. And also, if the goal is not clear, people easily get confused, so these should also be taken care of.

One reason that DCA is one of the simplest investing strategies for beginning investors is that it allows them to invest regularly. Rather than attempting to time the market. The volatility of Bitcoin can be overwhelming for new investors. But making regular purchases can help minimize the emotional aspect of investing and create a sense of confidence as time goes on. The most difficult part isn't picking the strategy, it's sticking to it when the prices drop drastically. DCA is for the long haul. So those who know this are more likely to be on track. Many new investors can benefit from this method. If they have patience, have some discipline and don't have unrealistic expectations.

[avp2306]

I don’t know why most people just make investing harder for themselves than it should be, by changing their strategy any time the market move. A simple solid plan combined with patience to stick with it can make a big difference over years. Just continue to make responsible decisions consistently.

I agree with you, just focus on one strategy instead of switching any time the market move, it looks like the goal or intention was not clear from the start. One should be prepared for any strategy they choose to go with and focus on that because volatility is surely bound to happen and always switching might make one not accomplish their goal and experience an unexpected loss.

An investor should first create a stable strategy and maintain investment and holding through that strategy, if you invest with weak commitment, it is likely to fail. Therefore, from the first stage, you should use a stable strategy with a stable goal, and continue investing firmly until that goal is met. If you cannot move forward with such a stable mindset in a volatile market like Bitcoin, then it is not easy to succeed. You cannot move forward risk-free with any strategy, various obstacles will come, but despite all the obstacles, you have to stay focused on your goal. And also, if the goal is not clear, people easily get confused, so these should also be taken care of.

When dealing on Bitcoin investment, commitment is one important aspect to earn success. If there are people enter without clear plan, most likely they will be shaken by volatile movement of this coin.

Also there's no strategy which don't posses risk, but what's important is we used those good strategy which can inspire us to stay focus on our long term goal, even if there's lots of challenges came. having precise goals can help investor to avoid doing emotional decisions.

Success usually comes with those investor have positive mindset and discipline, also to those people stick on the plans they set on their investment.

[Futurexxx]

When dealing on Bitcoin investment, commitment is one important aspect to earn success. If there are people enter without clear plan, most likely they will be shaken by volatile movement of this coin.

First of all, I think that you should be specific when talking about Bitcoin, not by calling it coin, because their are so many shit coin out there that are all coin.
Secondly, having a clear plan cannot make you not to panic when the dip comes, but to avoid panicking is by investing what you can afford to lose, that way you wouldn't be emotionally attached to your Bitcoin investment.

even if there's lots of challenges came. having precise goals can help investor to avoid doing emotional decisions
.

Just as I have said earlier, to avoid panicking or doing anything that relates to your emotions, you have to invest from your discretionary income, which is a fund you can afford to lose. You may have a precise goal and still sell in panic due to investing with what you cannot afford to lose, so to avoid making emotional decisions related to your investment,  you have to invest only what you can afford to lose.

[samadam007]

The main advantage of DCA is not limited to getting a low average entry price. If a person can buy bitcoin by understanding the bottom price every time, then he can buy bitcoin at a lower price than the DCA investor. But it is not just difficult to make a perfect dip prediction of bitcoin, it is absolutely impossible. And the main advantage of DCA is that it creates an opportunity to invest in bitcoin regularly by taking the worry out of when this price will be and is the most convenient way to buy bitcoin at an average price. However, it is not right to think that buying at an average price will ensure profit in a short time. If you can maintain long time holding and continuity and invest for a minimum of 4 to 10 years, the possibility of getting profit increases. However, many investors believe that maintaining consistency means that they have to buy Bitcoin regularly at the same time and day with the same amount. The buying amount and frequency of DCA should be by the individual's cashflow. If income decreases, expenses increase, or there is no discretionary income, it is reasonable to reduce the amount or temporarily pause. And if a person has been able to accumulate Bitcoin in comparison to his income and lifestyle without any pressure, then that person is on the path to success in investing in Bitcoin.

I don’t know why you’re comparing DCA to market timing in the first place. Why do you think DCA strategy was created?. FYI DCA exist because no one knows where the top or the bottom is. It wasn’t created to compete with people that trying to guess the market, but created to remove guesswork completely.

If you think there’s someone somewhere that can perfectly buy every bottom, then you need to wake up and face reality because that person does not exist. If it was easy to perfectly time the market, what do we now need DCA for? With DCA, one doesn’t have to worry about the "perfect" price, just keep buying with money you can afford over time; you automatically accumulate more BTC everytime the price drop.

[Tetu100]

It is not wise to predict the direction the market will go in the beginning when you are completely new to Bitcoin. To be honest, none of us can say exactly where the market will stop, when the real bottom or dip or bull run will start. Therefore, it is much more important to develop a good habit of investing regularly rather than chasing market timing in the beginning.

Starting up with such negative mindset or rather a desperate energy just at your very beginning of your investment journey is a sign that you won't go far. Because their is absolutely no way you can attain greatness if you persist or continue in that same direction. Just as you earlier said, nobody can accurately track the Market price regardless. Hence, you are only expect to do what is expected by investing only from your discretionary funds .

Furthermore, DCAing is another convenient method every Bitcoin investors should try to adapt with when accumulating Bitcoin. Why because it is very conducive in terms of accumulating, very flexible and it can irradicate the stress of constantly monitoring the market. My advice: we  shouldn't be stocked up in some strategy that could be toxic or perhaps  put us in some kind of tight corner in our investment. Being a long term investors is where the real potential of every bitcoin investment is, so don't be mislead by temporary gains else you will be missed out.