/biz/ - Business & Finance

>>25973541
At first, I tried trading, but it's hard to make money. Lost money, then lucked out in some trades and recovered most of it. Really hard to time the market. Even harder as a human with emotions.

Hodl and use DCA (dollar cost average), where you buy a set amount at some regular intervals. Just don't expect to be able to pull the money out if you want long term gains. Really wished I had listened to the DCA folk years ago on /biz/.

One thing is that for DCA, the longer you hold, the better you'll probably do.

Another but upside to DCA is knowing that you don't have to worry over daily, weekly, or monthly price movements. I still like to check the price action most days, but don't spend hours a day like I used to.

Also, keep savings and some type of emergency cash. Gotta have liquidity in case of emergency. Seen people lose out on their money after going all in. Currently investing 10% of my income until I reach a level of cash in my bank I am comfortable with. Once I do that, gonna be more aggressive while still slowly increasing my savings to ensure it keeps buying power to offset inflation.

https://youtu.be/S6vby9WHcPA - Great example of spending too much. Ramsey said to sell as they needed the money, but had they a solid stash of cash and patience and held two more years (video is from 2018), they'd have at least broken even and long term gained more.

Big thing: Only spend money you're ok with potentially disappearing.

>>25975668
Not a bad idea. Right now I just buy the same amount of crypto and mixed stock index funds every two weeks. May look at that.