"The 3 Golden Rules"
1. In trading/investing/gambling (whether forex, stocks, crypto, sports betting, etc): Invest only what you can afford to lose.
2. Don't blindly follow any expert's advice, do your own research. Only you will take responsibility for your losses, not the guru.
3. Your amount set aside for that risky biz (in number 1) should not be more than 10% of your total income. Let's say you have 1,000,000 savings in your bank account, your total budget for such risks is 100,000 max. You should effectively manage that 100,000 into such risky trades.
Risk taking is good but exceeding your max budget is like playing with fire.
Courtesy of KryptoSupporter.
I agree with you mate. I am investing in crypto space a little money which i can afford to loose that.
I am always using diversification for my investments. and i am also holding some usd value in my portfolio because sometimes
i need that to buy some good coins immediately or sometimes i need to buy some coins lower price for decrease my average rate .
Thank you for sharing. We are playing with fire and we need to be careful.