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.

[SamReomo]

Wish more people could realize that it is not about daily profits that you can make but the long term one. DCA is the method for that exact reason, you are not going to be rich today, not tomorrow and not even a year from now, but in 10 years you are going to be richer.

I agree, some people may need at least 10 years of investment to be free from financial issues but there's chance that a few of the lucky ones only 5 years might be more than enough to build some good wealth that would literally make them financially free. Bitcoin is the best investment for everyone and those who do it with faith will always get good returns from this investment.

[Wakate]

I agree, some people may need at least 10 years of investment to be free from financial issues but there's chance that a few of the lucky ones only 5 years might be more than enough to build some good wealth that would literally make them financially free. Bitcoin is the best investment for everyone and those who do it with faith will always get good returns from this investment.

I don't see the idea of having just one stream of income as an easy part to becoming financially sufficient.
This is the need for people to invest in different things that will bring profit for them. Take a look at the crypto space and how some people have became stranded in the dipping market because they decided to wait for a little time before they take profit when the price of Bitcoin reaches $120k. This must have been a big mistake to them if they have something important to do with the money.