Does the DCA strategy inspire newbies to invest?

[Dxdiax26]

It is important for investors to develop a proper plan to move forward with long-term patience. Financial stability is paramount. In this case, you should increase your work limit to move forward financially because it requires hard work to earn extra money. Along with investing, building an emergency fund is effective it keeps your investments intact. However, in situations where cash is urgently needed and it can exceed your emergency fund limit, you can understand the benefits of earning extra money by working hard from your current time. Therefore, it is important to have a high-paying job or multiple incomes in order to earn extra money.

People have different earning abilities, and so financial stability may be of different levels for different investors, so, pebs can still find a way to buy Bitcoin with little amounts regularly using the DCA. What really matters is that they are buying gradually with the little they can afford from there discretionary.

Seeking for ways to improve income overtime is necessary and okay, but it's not always easy, and while intending to do that, investors can ongoingly just keeping accumulating slowly since it might take sometimes to increase income. Not having a high paying income or earning should not prevent plebs for remaining consistent in buying Bitcoin, because gradual buys can keep growing overtime

This is true because everyone's results are different. This shows that each person will have their own way of doing things regularly, and they also do it based on their own ideas. Therefore, when using DCA it's certainly easier to buy both large and small amounts although sometimes purchases must be made in stages for the reason we discussed in this topic everyone's income varies.
Clearly, everyone has their own method, but how they approach it depends on the individual. Having a side job isn't a problem if it generates income. Many people want to invest but don't put in the effort to earn an income, and the income doesn't need to be large. Instead, they need to be able to invest gradually. What's needed is consistency in their investments.

[Merit.s]

But currently, many things are happening so that they are experiencing more losses. What I need to ask is what is the purpose of the emergency fund that you have to use for? Because the funds are only for investment, so we cannot use these funds for anything else other than the basic planning that we will do, namely providing only for investing in Bitcoin.

You don't follow up this thread discussion by reading people's post if not by now, you should have known the use of emergency funds. Emergency funds isn't for investing or for anything but to protect you from selling your bitcoin stash when you are hit with real life emergency. It's a backup funds to your bitcoin investment and not flexible.

This is because, if you use your emergency funds to invest into bitcoin, when you are hit with real life challenge, you will sell and that has killed the main reason of setting up an emergency funds which prevents you from premature sales. It's your reserve funds that you can use to buy bitcoin during a dip because that's one of the purpose of setting up a reserve funds.

[Obulis]

....Guys can do whatever they like and sometimes guys sell way too many bitcoin too soon because they think that it is a good idea to sell because their holdings are in profits.. and yeah, it can be difficult to get back those bitcoin after they had been sold...and sometimes guys will have regrets about that.  They had opportunities to really build wealth in bitcoin and then they ended up selling way too much too soon.

I'll approach this from a rather different perspective, if the person was accumulating BTC for a definite purpose, maybe to startup a lucrative business after 8 years or to buy a car at retirement or even a house, then it's fine since they've achieved their goal which they set out from the onset and still hold the remaining stash for longer.

If rather they just sell for profits and hold fiat, then it isn't the best decision since the value of their money would've remained protected in Bitcoin, but fiat would depreciate, so choosing fiat against Bitcoin isn't a wise decision at all.

Financially, it still might not be a good idea to sell too much bitcoin too soon, whether talking about a house, business, car or whatever BIG  ticket item that is chosen.. Guys have to figure out a balance that makes sense for their circumstances, and yeah, sometimes consumption and/or inferior investments can be structured so that all of the bitcoin are not sold.. even though maybe a relatively large portion of the bitcoin is sold in order to achieve an alternative goal that might be an investment or a consumption-related spending.. .

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

[abaeze]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

[Morayoam91]

This is true because everyone's results are different. This shows that each person will have their own way of doing things regularly, and they also do it based on their own ideas. Therefore, when using DCA it's certainly easier to buy both large and small amounts although sometimes purchases must be made in stages for the reason we discussed in this topic everyone's income varies.
Clearly, everyone has their own method, but how they approach it depends on the individual. Having a side job isn't a problem if it generates income. Many people want to invest but don't put in the effort to earn an income, and the income doesn't need to be large. Instead, they need to be able to invest gradually. What's needed is consistency in their investments.

Create a strong source of income, through which you can properly meet the basic needs of the family with the money you earn. On the other hand, you can move forward gradually using the DCA strategy; it is important to have a long-term investment plan because short-term investments can cause you to suffer financially, long-term investments that are made with money that is very unlikely to be used in your own life and without that money you can live normally. Create an emergency fund, which will be your hope and support from sudden dangers. With the DCA strategy, you can invest on a weekly or monthly basis, but you can create multiple sources of income or earn through extra work, because financial clarity is the most important.

[LodBtcFast55]

As a long term investor, you need to have an emergency funds that will protect you not to tend towards selling or trading part of your bitcoin investment when in an emergency situation. This is not too harsh, it’s a necessity that a long term investor must need to have the emergency funds which is very important for his long term survival In bitcoin investment.

The reason for having the emergency funds is so that whenever you are in any emergency situation you can just go to your emergency funds and sort it out without getting to touch your bitcoin investment because once you start touching it you’re already selling when it’s not yet time and at such the long term investment goal is going to become difficult to achieve. There’s nothing like a partial selling in long term investment, that’s a traders mindset wanting to take partial profits and if you claim you’re using it for emergency purpose then what happens to building up your emergency funds as a long term investor. You only can sell as a long term investor when maybe you’ve exhausted all your emergency funds trying to sort out the problem but still not able to cover for the emergency at hand and also if it’s a matter of life and death.

It is important to be aware of investing because it is necessary for long-term progress. It is also important to build an emergency fund because there may come a time when you lose your job or source of income and you may need cash to manage your normal life. It is normal for a person to be in a sudden danger, so cash may be needed to overcome that danger and an emergency fund is effective to meet it.

[Hardyrobust]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

I think the most important thing here isn't the reason why you are selling but rather whether the person has reached the over accumulation stage. If the person is still on the accumulation phase, it will be wrong for them to sell their bitcoin because of pleasure. The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment. Apart from this , I don't support the idea of selling bitcoin to buy a car when the person is still on the accumulation phase.

[Tonimez]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

I think the most important thing here isn't the reason why you are selling but rather whether the person has reached the over accumulation stage. If the person is still on the accumulation phase, it will be wrong for them to sell their bitcoin because of pleasure. The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment. Apart from this , I don't support the idea of selling bitcoin to buy a car when the person is still on the accumulation phase.

Not making provision for an emergency situation by creating an emergency funds is already an investment mistake that can make someone to sell off his bitcoin unintentionally due to an emergency situation.

Bitcoin investment is supposed to be a very long term investment and even at over accumulation stage, a person can still decide to HODL his bitcoin further. It is true that everyone has the right to do whatever he likes with his bitcoin but then what about considering a Sustainable withdrawal method instead of selling off the entire stash, you can sell in bits and can also decide to invest along the line.

Bitcoin investment is done with money that you can afford to loose which means you only invest after taking care of your basic responsibilities and you invest a percentage of your Discretionary income which you can afford to loose. If you do it rightly, then you won't make your bitcoin the only source of buying a car because nothing is guaranteed. If you are saving your bitcoin because you want to buy a car, what if volatility goes negative around the period you want to sell?? So to be on the safe side, ensure you invest the money you can afford to loose and not the money you have a plan of buying a car with because you are not sure of what tomorrow brings in bitcoin.

[Tetu100]

The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment.

And you think this is the best advise you can give to a new investors that are just starting? What happens to the idea of setting up an emergency funds for the said dude to be able to takle future unforseen challenges? However, this are some of the mistakes people do that make them fall half way in their investment journey and you know it.

Perhaps, you should be advocating or rather advising newbies to patronize having an emergency funds instead of falling back on their investment holdings in settling real live challengings. Hence, setting up an emergency funds in our investment is the only ground that can sustain us till we reached our investment peak.

[cocadalcan]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

I think the most important thing here isn't the reason why you are selling but rather whether the person has reached the over accumulation stage. If the person is still on the accumulation phase, it will be wrong for them to sell their bitcoin because of pleasure. The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment. Apart from this , I don't support the idea of selling bitcoin to buy a car when the person is still on the accumulation phase.

If you reach the over accumulation stage by accumulating Bitcoin you can withdraw a small amount to increase your real assets. Maybe you will buy real estate or buy gold. In fact selling Bitcoin for a luxurious lifestyle will not be the right decision. Even if Bitcoin reaches the over accumulation stage if you have discretionary income it will be realistic to do DCA regularly and holding Bitcoin will be more reasonable than extra accumulating fiat.
One thing here is whether you have done DCA for 10 years, if you can reach that stage that maybe we can call it a reasonable stage for Bitcoin investment. At that time, you can decide to withdraw some of your Bitcoin if you are in a profit stage.

[TaviraCoinX]

Which is why as an investor we don’t need to actually Joke with our emergency funds because it what help to guide and protect our investment from any unforeseen circumstances or dangers that might lead us into having the tendency to touch our investments. When an investors invest and don’t make availability or plans for emergency funds then such investment is open up to high rate of risks because any situation that end up showing up about anything finance and we have no other option to take care of it then the first thing that comes to our mind is our investment.

The need for an emergency fund is realistic and it is not uncommon to need cash when you have nothing. And if you have nothing at that time, you will be forced to give up your long-term investments, hence the need for an emergency fund. But there may come a time when you need more money than your emergency fund limits, and then you will have to give up your investments. But this does not happen to everyone, having a strong source of income from which it becomes easier to meet the basic needs of your family and at the same time help you maintain your investments consistently.

[Abelly]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

I think the most important thing here isn't the reason why you are selling but rather whether the person has reached the over accumulation stage. If the person is still on the accumulation phase, it will be wrong for them to sell their bitcoin because of pleasure. The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment. Apart from this , I don't support the idea of selling bitcoin to buy a car when the person is still on the accumulation phase.

Selling repeatedly from the savings stage certainly undermines the investor's main goal. However, you need to remember that making an emergency the natural reason for selling can be a bit risky. Because you are supposed to have a separate fund for emergencies in advance. If selling Bitcoin is your last resort for every problem, then I would assume that your investment structure was already in deficit. I don't even think that the only reason to sell from the savings stage is a life-and-death situation. If you have set aside some part in advance for a specific purpose such as family, medical care, debt reduction or creating an income stream, then it is not a fear sale. The problem is when someone sees a small profit, sees price fluctuations, or starts cutting into the main savings just for enjoyment.

[Rabata]

If you want to diversify into a business, make sure that you have accumulated 50% or more of your bitcoin target.

This specific limit doesn’t seem reasonable for everyone. Not everyone has the same Bitcoin goal. If a person has a large Bitcoin goal, limited income, and a lot of responsibilities to family members, it can take them a long time to achieve even half of that goal. Again, for some people, it’s not difficult to build their business, emergency fund, and Bitcoin savings account from the beginning. So my question isn’t whether half of the goal is met. Rather, the bigger question is whether their long-term savings plan will be viable after the sale. In my opinion, it’s really risky if you’re not at the very beginning of building your emergency fund and want to start business after seeing relatively small profits. If a person has a reliable source of income, the emergency fund is a different matter, and if they invest a small portion of that income in something that will bring them additional income in the future, it won’t be a blind sell.

[ChocolateBitcoinK]

Intentional selling of Bitcoin has to be well calculated and the calculation is based on the reason for sales, so that you don't sell too soon and sell because of inferior investment. A total avoidance on sales for consumption should be the case. Investor should also try not to sell all their Bitcoin and that part of the calculation to be made before selling.
 

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

Bitcoin investment itself is already a great investment, Bitcoin is a very suitable investment as a long-term investment. And so selling it and making any other investment does not seem very reasonable. But if you have already benefited from a significant amount of Bitcoin, then you should definitely enjoy your profits. No matter what we do to make an investment or acquire wealth, the main purpose of everything is to enjoy those assets, right? And so after benefiting from Bitcoin, we must enjoy that profit. We must not live forever, and therefore we must enjoy our assets and for this we must sell Bitcoin at some point. But we must start investing with a long-term goal, set a long-term goal, then manage the investment according to your ability after meeting all your necessary needs, and after achieving the goal, then enjoy it. In the end, if you cannot enjoy something, then that asset has no value.

[Sammysmart001]

No matter what we do to make an investment or acquire wealth, the main purpose of everything is to enjoy those assets, right? And so after benefiting from Bitcoin, we must enjoy that profit.

Right one, there is really no prize for being a riches person in the graveyard. Achieving The improvement of quality of life and financial freedom is the whole point of investing in Bitcoin. You setting up a financial goal and you hits that target, cashing out some profit to achieve it, It a right move. This call wining.

Selling out during an accumulation phase just in the name to buy some flash things for a little period excitement , are the mistakes that do happens to us most of the time. Setting up a goal first and hit on the target and than enjoy your wealth that you built over time without feeling any guilt about it.

[Cossyblack]

The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment.

I'm surprised that inspite of jay juanjee teachings about emergency fund, you still don't know the purpose of setting one up. Incase you don't know, the purpose of setting up your emergency fund is to prevent you from selling off your bitcoin stash when you come in contact with a real life emergencies. I'm disappointed that after all the teachings you have been taught in this thread, you still think it is right to sell your bitcoin investment when your face with a real life emergency because it shows that you haven't been practicing what you are been taught in this thread.

[Promocodeudo]

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

So your suggestion is for investors to sell their Bitcoin at anytime to covers up the expenses that you listed right? That's to to say it is no longer investment, apart from Bitcoin investment, I'm aware that investment generally have maturity stage where an investment will decide what to do, before selling off some part of the investment, life is meant to be enjoyed I'm not arguing that, however, life is not meant to be lived recklessly too, we should be disciplined financially, your investment money is not meant for you to pay for your vacation and some under things you listed, and even though it can be used for such, it is not when you've not touched your target.

[Dxdiax26]

~Snip~

Selling out during an accumulation phase just in the name to buy some flash things for a little period excitement , are the mistakes that do happens to us most of the time. Setting up a goal first and hit on the target and than enjoy your wealth that you built over time without feeling any guilt about it.

Actually, this is not something that cannot be done but it is better for them to separate themselves on the grounds that everything they do is good and their decisions are more optimal in determining decisions in one action.

If someone asks me, I prefer to do it one by one so that when I am accumulating of course my thoughts are more focused on investment especially at that time when we are profitable. If we accumulate because the market is sometimes falling in price so that the amount we get by taking advantage of the situation is the more profit we get and after accumulating, we do a little selling phase on the grounds that sometimes our financial situation is in difficult times.

[Big Dirams]

The only time I believe is right for someone that is still accumulating bitcoin to sell is during an emergency and when they don't have an emergency funds and the only option they have to save the situation is to fall back to their bitcoin investment.

I'm surprised that inspite of jay juanjee teachings about emergency fund, you still don't know the purpose of setting one up. Incase you don't know, the purpose of setting up your emergency fund is to prevent you from selling off your bitcoin stash when you come in contact with a real life emergencies. I'm disappointed that after all the teachings you have been taught in this thread, you still think it is right to sell your bitcoin investment when your face with a real life emergency because it shows that you haven't been practicing what you are been taught in this thread.

It’s actually so surprising because he has been on that thread and made some few post and the most astonishing part is that he has receive some few merits from JJG from that same thread that speaks about how to handle ourselves in bitcoin investment and the suitable strategies for it.  

Which responsible investor would even think about selling off their bitcoin investment when we have our emergency funds available just for any emergency that comes up?  When we run back to our investment for emergency then technically it shows we don’t have an emergency funds and we are just trading and not investing at all, because a long term holder will make availability for back up funds.  
He’s totally getting everything wrong.

[ChocolateBitcoinK]

Life is short and one, so I do not agree with the statement that selling Bitcoin for pleasure should be completely avoided. An investor should try his best to make life beautiful and enjoyable. And wealth is not just to accumulate it with difficulty. Therefore, it is not unreasonable to sell Bitcoin to buy a necessary car, travel to spend time with family, or improve the quality of life.

However, it is important to me not to sell Bitcoin for low-quality investments because it is not wise to go into risky or weak investments by selling Bitcoin for the long term just in the hope of making more profit from some other investment.

So your suggestion is for investors to sell their Bitcoin at anytime to covers up the expenses that you listed right? That's to to say it is no longer investment, apart from Bitcoin investment, I'm aware that investment generally have maturity stage where an investment will decide what to do, before selling off some part of the investment, life is meant to be enjoyed I'm not arguing that, however, life is not meant to be lived recklessly too, we should be disciplined financially, your investment money is not meant for you to pay for your vacation and some under things you listed, and even though it can be used for such, it is not when you've not touched your target.

Investment requires a clear goal a specific time frame and a disciplined plan. If a long-term investor plans to hold onto Bitcoin for a few years when he buys it, then his main goal should be to follow that plan. Selling investments repeatedly for short-term pleasures can undermine the purpose of building long-term wealth. If you continue to withdraw money from investments and spend it in this way, you can also deprive yourself of the benefits of the potential growth of those investments in the future.
If an investor has built up an emergency fund in advance, he may not have to sell his long-term investments during an inevitable financial crisis. But if someone does not have sufficient savings and has no other way to meet emergency expenses, then selling some Bitcoins to meet necessary expenses will not be an unreasonable decision. Trying to just hold on to investments while ignoring necessary responsibilities can worsen his financial situation.

The purpose of an emergency fund is not just to save some money. It is to create a financial security so that the investment plan does not collapse in adverse circumstances. One should build up a separate fund as much as possible without relying on investments for emergency needs. Selling Bitcoin repeatedly for unnecessary expenses before achieving your investment goals is not consistent with long-term planning. However, selling part of your investment as needed in the event of an inevitable financial crisis should not be seen as an investment failure.