Just a quick reminder to everyone that if you believe an asset will be worth something great in the long term, then definitely have a PAC going. PAC = PreAuthorized Contribution. Coinbase has this ability. There might be some other ways too. In case you want to subscribe to this option, here is a referral link: https://www.coinbase.com/join/53bfb7d7d1bf7f7006000001
You might have made a few good trades but you can't predict them all. Over the long run, trying to play the market is like playing the Casino. Even if you find a method that works, inevitably it won't as many catch on. So it's a losing game... unless you don't play it... and invest instead.
A PAC is powerful. It does so much, it is a pillar to healthy investing. It:
-Removes you emotionally from the price fluctuations. The PAC makes the buys, you don't (You also don't have to follow the news anymore trying to time the purchases).
-If the price drops, you buy cheaper. If the price increases, you "make" more money. Feels like a win win no matter the price (if you happen to see it).
-You can budget easier by committing to a single fixed repetitive payment. This is consistent with the 10% pay yourself first method. It's recommended you do a weekly amount, same day/time for same amount. Set it and forget it.
-You take advantage of the sum cost average ("dollar cost average"). The most powerful way to invest for a non-trader.
The secret is time "in" the market, not "timing" the market. It's being proven over and over again that if you are bound to miss out on the greatest upswings by trying to avoid the down ones. The upswings take out the bad ones and profit you.
So as you read this, think to yourself: "What's the most I'm willing to kiss goodbye every week?" Setup a PAC. Invest like a pro. Make money over years, not lose it over weeks. The patient are rewarded. Just like those who bought at the peak back in 2013.
