Hehe.
Some say that a DCA strategy can make us consistent?
I think consistency is a personal decision, and it doesn't just apply to this specific area but to all our activities. The result is a consistent attitude.
It actually looks like you have no idea of what DCA means or maybe you have forgotten but let me refresh your brain to the meaning once again.
DCA (Dollar cost averaging) can be said to be an investment strategy where you investment some amount of money (it doesnt actually needs to be fixed amount) into any assets and buy consistently either on weekly basis or monthly basis. But the main purpose is that we need to buy consistently at our own pace either weekly or monthly because when we dont buy consistently then that can be said not be a DCA strategy again but something else.
So technically DCA is an idea of buying consistently, however it doesnt makes us consistent but we must be consistent otherwise we arent Dcaing.
Consistency isnt a personal choice or decision but a must when dcaing and cant be negotiated unless we quit dca.
Consistency is a choice, even within DCAing.
We can make our own rules in regards to how whimpy or aggressive that we want to be, and being consistent might represent that we are trying to be more aggressive in the way that we are buying bitcoin, yet we can choose to go through spurts in our bitcoin investing and/or we could buy whenever we believe that we have extra money available, which might not end up being consistent, but still would be considered DCA, especially if we look over a long period of time and we jot down various times that we had bought bitcoin, and maybe there were some that were every week and there were varying amounts and there were various levels of chosen aggressiveness or whimpiness depending on how we felt, yet since we bought bitcoin over several transactions, that would still likely fit into the category of DCA buying.
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All what Im saying is that we need to accumulate at so point and that why it is called dca, so we call buy consistently at our own convenient period.
We cant start dca and abandon accumulating like we are lump summing. You seem to be being too strict in your attempts to describe what is DCA and what is not DCA, and DCA is similar to lump summing, but it is not so similar to buying the dip.
A guy can combine strategies and still be DCAing, and surely many times when income is coming in modestly and expenses are fairly regular, then DCAing might make the most sense, yet if guys have situations that they receive extra funds they might choose to supplement their DCAing with lump sum buying (buying right away) and buying on dips.
As you likely noticed from various responses that you got, it can be confusing and even controversial if you try to be too strict in your definition of DCA, since even if each of us might strive to be consistent, persistent, regular, ongoing and even aggressive in our bitcoin buys, we may or may not be following DCA techniques, and the extent to which we choose to follow any of those (or how much we choose) are within our choices. We are not knocked out of being able to proclaim that we are DCAing merely because we choose to be whimpy rather than aggressive in our bitcoin accumulation. We might even change our mood from time to time, but that does not cause us to get knocked out of being able to claim that we are DCA buying bitcoin.
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Don't you think you are confusing yourself here? How can someone apply the DCA method without consistency and still call it DCA?
Consistency is a choice when it comes to investing into bitcoin and/or the level of DCAing that a person chooses to pursue. Remember that guys can choose to be whimpy or aggressive or anywhere in the middle, which applies to a lot of areas of bitcoin including how consistency they choose to be or not to be in regards to their bitcoin buying. Sure, they likely will do better to be both consistent and aggressive, but that is their choice.
Don't you know that one of the admirable attribute of the DCA method is the consistency that it makes the investor developed?
Of course, DCA facilitates an ability for guys to buy bitcoin whenever funds are available and they can also choose to try to invest in bitcoin every week. Yet they do not have to buy bitcoin every week in order to still be following a DCA strategy.
If you are using weekly DCA and you buy this week and for the next five weeks you missed and bought on the sixth week and miss another two weeks and bought the next, you have automatically shifted from the DCA method to something else.
What you just described sounds like inconsistent DCA to me. I doubt that the hypothetical person that you described above had gotten knocked out of DCA buying merely based on inconsistencies in his bitcoin buying frequencies.
You should not mistake the DCA method for something else because the DCA method requiring the investor to buy with little amount in relation to his income means he can accumulate for several times without feeling any financial burden.
Sure. Guys should be investing within their financial and their psychological means, yet they can still make adjustments to their investment amounts from time to time based on their perceived changes in their finances and/or their psychology, and they might even fuck up when they make their changes, yet they are not knocked out of being able to claim that they are DCAing merely because they are not being consistent with their method, the amounts of bitcoin that they are buying and/or the frequency of their bitcoin buys.
