Long-term DCA and drawdowns: how do you evaluate a strategy beyond returns?

[Alphakilo]

If an investor gets to really understand how DCA strategy for long term investment plan is, it would be clear that it is designed to manage risk and the investor's psychology, as opposed to maximizing returns.

The evaluation shouldn't be far-fetched from knowledge of the total units owned and its size as compared to fiat expenses after calculations and budgeting. Another would be if the average cost is somehow still lower than the price it was at about 6 months ago,
While automatic buying actions for DCA purpose and the fact that the coin is still much invested in by other institutional bodies and individuals, shows my long term DCA strategy is working efficiently despite the drawdowns of volatilities and market sentiment that is bound to happen.

[boyptc]

However, when using a long-term DCA approach, I’ve found that returns alone don’t
say much about whether the strategy is actually viable to follow over multiple
market cycles.

That's on you but to me, it has worked and very profitable. I guess it also depends how much you're holding and how long you did.

For those here who have used DCA or similar long-term approaches:
what do you personally look at to judge whether a strategy is still working
and worth sticking with?

The choice of what you hold.

Many think that DCAing alone is a good strategy which is true but, if you ask them what they've been DCAing, they'd say some meme coin or unknown cryptos.

And that's a huge mistake that they have been consistent with. Look at it if you've been doing it with bitcoin, you've never go wrong by doing that strategy to BTC.