The chart reflects an easy strategy to dollar cost average, DCA, and is super easy to implement. My timeline for investment is years out, so if you are a day or swing trader, move on please.
Now for the chart: The yellow box represents an area that I will purchase 5.00 $ worth of BTC per day, every single day, regardless of price. The green box represents an area I will buy 10.00 $ day, regardless of price. I also have buy orders for swing trades within these zones, but the DCA strategy is my favorite, and has proven to have bigger ROI than active trading for me. Not to mention, its way easier! But whats the tradeoff you ask?
The DCA strategy takes a lot of maturity and patience to execute, and its boring. Its not sexy, or flashy in any way, but usually provides larger gains over the long run.
For those who saw my previous idea, this is simply an update of some support/resistance areas. Largely its the same.
Let me know what you think. And don't confuse this with being any sort of financial advice in any way, shape , or form.
Thanks and always practice risk management.
Now for the chart: The yellow box represents an area that I will purchase 5.00 $ worth of BTC per day, every single day, regardless of price. The green box represents an area I will buy 10.00 $ day, regardless of price. I also have buy orders for swing trades within these zones, but the DCA strategy is my favorite, and has proven to have bigger ROI than active trading for me. Not to mention, its way easier! But whats the tradeoff you ask?
The DCA strategy takes a lot of maturity and patience to execute, and its boring. Its not sexy, or flashy in any way, but usually provides larger gains over the long run.
For those who saw my previous idea, this is simply an update of some support/resistance areas. Largely its the same.
Let me know what you think. And don't confuse this with being any sort of financial advice in any way, shape , or form.
Thanks and always practice risk management.
