01-25-2022, 10:36 PM
Best way to buy the dip? Buy in layers
<!-- SC_OFF --><div class="md"><p>Here is a suggestion of how I buy dips, I'm sure many of you have seen this before, but it might help someone. Lets use bitcoin for example, its at about 36.5k right now. If I have $10,000 to spend, I don't want to just wait until it drops a bit and just spend the $10,000 all at once. I start edging in, just in case it goes lower to protect me from volatility. I set up buy orders:</p> <p>$1,000 at 34k</p> <p>$2,000 at 32k</p> <p>$3,000 at 30k</p> <p>$4,000 at 28k</p> <p>This isn't perfect, but it has protected me from volatility a bit and certainly stopped me from dropping all my money on a coin at a higher price.</p> <p>Edit: Some people are saying this is DCAing. Dollar Cost Averaging is investing money at certain intervals regardless of the price. For my example it would be like $1000 a month over the next 10 months</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Ethernovan"> /u/Ethernovan </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/schizl/best_way_to_buy_the_dip_buy_in_layers/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/schizl/best_way_to_buy_the_dip_buy_in_layers/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Here is a suggestion of how I buy dips, I'm sure many of you have seen this before, but it might help someone. Lets use bitcoin for example, its at about 36.5k right now. If I have $10,000 to spend, I don't want to just wait until it drops a bit and just spend the $10,000 all at once. I start edging in, just in case it goes lower to protect me from volatility. I set up buy orders:</p> <p>$1,000 at 34k</p> <p>$2,000 at 32k</p> <p>$3,000 at 30k</p> <p>$4,000 at 28k</p> <p>This isn't perfect, but it has protected me from volatility a bit and certainly stopped me from dropping all my money on a coin at a higher price.</p> <p>Edit: Some people are saying this is DCAing. Dollar Cost Averaging is investing money at certain intervals regardless of the price. For my example it would be like $1000 a month over the next 10 months</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Ethernovan"> /u/Ethernovan </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/schizl/best_way_to_buy_the_dip_buy_in_layers/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/schizl/best_way_to_buy_the_dip_buy_in_layers/">[comments]</a></span>Kind Regards R