Hey thanks!😃
'Dollar cost averaging' is often considered the most logical strategy to try to minimise the risks of buying all you position right at the top of the market 😀
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Hey thanks!😃
'Dollar cost averaging' is often considered the most logical strategy to try to minimise the risks of buying all you position right at the top of the market 😀
Thanks for the suggestion. I start searching for this strategy now. Tomorrow I will read more of it. Do you think it's a good idea to start with virtual account for practice?
The dollar cost averaging strategy is simply a logical thing to do if you wish to avoid trading, therefore there would be not be so much need for a virtual account, right? And also, there's not that much to read up about it because it effectively just means making investments by buying at regular intervals over time, rather than with one lump sum all at once!😀
But it depends if you are interested on investing / trading / or both? 😉
Dollar cost averaging strategy sounds like a good strategy. One question, is the starting point of DCA very important then?
My understanding is that it shouldn't matter! That's the point, you don't need to make any decisions really, or look at any charts .... other than deciding how much you want to invest over what time period ;). The sooner you start, the sooner you build the position.
If the price falls from here, then your later purchases are going to be better value.
If the price rises from here, then your early purchases are going to turn out to have been good value ones.
Disclaimer: this is not trading advice :)
Now I see how it works, thanks for your patience. It's a great advice :D