INVEST ONLY WHAT YOU'RE WILLING TO LOSE: BULLSHIT
I hear and read this phrase everywhere: "Only invest what you're willing to lose!" It's a huge mistake, don't listen to this advice. Don't assume that you can lose the money you're about to invest because by doing so, you'll act recklessly. I recently made a post stating that the primary objective in investing is not to win, but not to lose.
If you invest the money you're willing to lose, you'll only focus on making money, completely ignoring the risk of loss. That's why you'll take absolutely disproportionate risks by trading Futures, investing in newly listed cryptocurrencies, letting your huge losses run, and never taking your profits.
Consider the money you invest as if it were the money you use to pay your rent: would you take disproportionate risks, risking total capital loss for that? No, unless you're crazy. Some will say, "But I don't use that money to pay my rent, that's precisely why I'm investing!" Yes, of course, but the risks of capital loss are enormous when you take disproportionate risks in the markets, especially when you're just starting out.
So act accordingly, and your crypto journey will go well. And forget this completely bullshit phrase: "only invest what you're willing to lose."
I hope some will understand and implement these advice.
This post represents my personal views.
Thank you for reading.
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Livio P-V.
