(Alesia Kozik via pexels, edited via pc tools)
Perhaps most of us have encountered the phrase "buy the dip" which sometimes gets literally understood as it is. I have been there and done the same. Bought in one go only to see the price kept going down until it got to the point where I got really scared and sold at a loss.
Sounds familiar?
I guess most of us committed such a mistake at one point in our crypto lives. But it makes me cringe each time I see my buy and sell histories on the exchanges where I traded over the years, lol!
The wonky market certainly reminded me of those impulsive decisions I've had where I never really learned lessons even after a few years in the crypto and stocks radar. Coming to Hive however gave me the real poke in the head. I guess it's here where I've been given the nudge to evaluate what I was trying to achieve. And thanks further to LeoFinance for widening my learning scope.
Here, I started to learn and see the importance of the Dollar Cost Averaging (DCA) method especially when one wants to accumulate a crypto asset. It does make sense to invest a certain amount of money at a set time over a long period and in doing so, one is able to minimize the risks due to price volatility.
- For those who are yet to learn how DCA is done, an example would be setting aside $10 a week to buy $RUNE every Monday morning for the next 5 months or so. This means one must have a steady source of money to make it happen.
- I've read that one thing to consider when doing this is the market situation. You wouldn't really want to be buying when prices are spiking up, would you?
What I usually did before was what they call "Lump Sum Investing", an investing term I learned reading from anomadsoul some days ago. This method didn't really work well for me because I got stressed out and ended up with no crypto in my bag and a lot less dollars in my purse.
Am I buying the dip?
Not really. But I'm buying $HIVE daily no matter the price (and $LEO too from time to time) with whatever amount I could. This perhaps my own way of DCA-ing, thanks to HBD rewards for making this possible.
Do I even sell?
I'm not selling any of the two assets mentioned above. I'll just keep stacking them up. Just gonna keep building, hodling and staking them with the hope that years from now, I'd be able to see and perhaps enjoy the fruits of my grips.
That being said, I do trade other crypto in a few CEX. I guess the lure of trading for profit is still in me although I am more conservative and careful now (I was more of a gambler before, lol!)
So how about you, what investing strategies do you employ? how often do you buy and sell crypto? Please do share and let's learn together :)
Thank you and wonderful day!
No part of this publication should be taken as any form of financial or investment advice. You know the rule, DYOR.
Lead Image via Pexels and edited on pc. 070622/11:55ph
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DCA is one of the safest method as long as you are acquiring assets that is not in a perm downward action. That is later call "catching a falling knife".
!PIZZA
Thank you for that, it's great that you reminded me of the "perm downward action" which is indeed like catching a falling knife, hurting your own self in the process.
!CTP
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Thanks for the pizza and here's to share some !LADY with you :)
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I suppose that ANY accumulation method is a good one if you have strong beliefs in a project/token that you invest in... Look at Bitcoin, if you bought ANY dip from the past, you would be perfectly fine today... Or, if you DCA-in it, the same thing...
The thing with buying the dip, DCA, and all the rest becomes tricky when we are not sure about an investment, and try to speculate with the high-risk assets volatility and dreaming about get-rich-fast... :)
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This gave it more sense. When we believe in the project (which is the case for me for Hive and Leo), we just keep accumulating.
Many thanks for considering my post in your daily picks, it's truly appreciated :) Cheers!
!LADY
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If you are currently buying Hive CJ, then in my opinion you are buying the dip, but like everything, it is all relative.
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Yes, Tito Ed, you are correct :) Although we have been buying $HIVE even before the prices fell hehe. Good Tuesday morning to you :)
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hehe well yes I know what you meant, I was teasing, it is good you buy Hive at anytime though CJ:)
Now you are the one teasing me, lol! Good evening to you now. You seem to be busy recently, I haven't seen you post hehe
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Me tease !
Well I spent all day gardening yesterday so was off Hive but I did post my music ttt this morning
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Aha, gardening, that's fantastic Tito Ed! Reconnecting with nature and getting your hands dirty hehe.
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Well pulling weeds from all the gravel and cutting grass and hacking bushes, but still fun in the fresh air CJ
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Sharing some !LADY by the way :)
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LOHtokens.@ifarmgirl, you successfully shared 0.1000 LOH with @tengolotodo and you earned 0.1000 LOH as tips. (4/8 calls)
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oh I always a Lady CJ ;)
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Hello, sis!
Dollar Cost Averaging is the best we can do. I've sinned a lot of not doing it in the past with BTC, LTC, Dash, and so on. But with Hive like you, I'm doing it, and have been doing it since I was determined to power up my account as much as I could. This is a long-term project for me so in the case of Hive I'm not too stressed about the ups and downs. It's my small bet for a better future. May this help me generate a fund that will make a difference.
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Good morning sis :)
I agree with you. Hive is a long-term project which we will keep building :) And so I wish us the best as we keep on with this daily :)
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Cheers to us, sis! And let's hope we can reach all our goals here. Good evening to you! 😄
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Amen to that sis🙏 Thank you and good mawnin to you🤗
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Thank you, sis! ☀️☕️
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And because I still have some !LADY to share hehe
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Gracias, amiga
Salamuch:)
!LUV
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You right.
Bought Luna at around $0.32 and then seeing it going much lower made me thinking, well that was a wrong move :D
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That's the thing when we buy something when we think it is its dip and then it keeps dwindling down hehe. For some other tokens, they have the chance to recover and we just need patience. Unfortunately, that isn't the case for LUNA
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Yeah :/
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Trading is more like a gamble to me, reason why I stay away and just buy what I see is of value to me just like hive and Leo.
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That's a good thing to do, just focus on buying the ones you believe in :)
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I'll keep doing that.😊
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I've bought the dip and I DCA. I think a system of regular investment DCA style is probably the best.
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That is great :) And that's sensible to do to buidl an asset holding.
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Thanks for the tip. So far I have not bought, but I have not sold either, I take everything to power up, and well, I see it as a future savings. I recently got scared with the fall of cryptocurrencies, but I think it is stabilizing.
You are welcome :) It's great that you are staking all which means your account keeps growing. Yes, the market seems to be doing better, especially HIVE :)
!LADY
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Buying the Dip is a good idea for me but I'm still uncertain about it looking at what happened with LUNA. For real though, I still have the feeling that crypto is someone's idea and they can decide to dump it whenever they want to and where does that leave us to?
I understand the doubts due to the recent fiasco with LUNA.
Your thoughts is very interesting, but it pays to know which crypto we invest in to. There is always risk associated with investing (not only on crypto) and that's what we need to minimize. Some take profits as soon as they see the chance and leave the others on their wallets to play around.
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