Quote: (01-29-2018 12:58 PM)JayJuanGee Wrote:
Quote: (01-29-2018 12:33 PM)Vladimir Poontang Wrote:
I've got some money that I wouldn't mind investing. But this all seems to me like gambling and that's why I hesitate.
As I mentioned in an earlier post, Dollar Cost Averaging investing is likely to better apply to asset classes that you have some kind of long term positive sense that it is going to perform decently positively during your investment time frame - or you are using the asset class as a hedge against some other investment that you are making.
If you are considering the matter in a more gambling kind of way, then perhaps dollar cost averaging is not going to be good for you for this particular asset.
On the other hand, if you are fairly willing to invest, but you are just nervous, then that could be a sign that you are planning to invest more than you can afford to lose, so in that case you just need to consider widdling the amount down to a point that it no longer bothers you.
So let's say that you have a total of $6k available for investing over the next six months, but it is making you nervous to put that $6k into bitcoin, you just widdle down until you are comfortable, and maybe that number is $2k for you, rather than $6k? In the end, if you have decided that you want to go forward, then the next step is just making the amount comfortable, rather than being paralyzed by inaction.
The amount that I have is roughly $1500. But I don't want to put all of that in. In fact I'd like to maybe try other things too like buying gold. I'd be comfortable putting $250 or so into bitcoin over a few months.
My issue is that I'm worried that I might end up treating this like gambling, and then I might lose the lot. I've never been a gambler and I've never felt the urge to gamble. It doesn't appeal to me at all. The fact that I'm concerned could be a sign that I've got nothing to worry about, but still, I can't help worrying.