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 afford to lose the money you're about to invest because by doing so, you'll act recklessly. Recently, I made a post stating that the primary objective in investing is not just to win but also to avoid losses.
If you invest money with the mindset that it's expendable, you'll solely focus on making profits, disregarding the risks involved. This approach leads to taking excessively high risks, such as trading Futures, investing in newly launched cryptocurrencies, letting significant losses accumulate, and neglecting to secure profits.
Think of the money you invest as essential as the funds you use to pay rent: would you take unreasonable risks and risk losing everything? No, unless you're imprudent. Some might argue, "But I'm investing precisely because I don't need that money for immediate expenses!" While true, the potential for substantial capital losses remains significant when taking excessive risks in financial markets, especially for beginners.
Therefore, act prudently, and your journey in crypto investing will likely be successful. Disregard the notion of "only invest what you're willing to lose."
I hope this perspective resonates with some and encourages thoughtful investment decisions.
This post reflects my personal opinions.
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