Quote from: Casdinyard on Today at 03:36:20 PM

Quote from: Gooner0 on August 16, 2024, 12:14:42 PM

Good day everyone on this beautiful forum.
We all know how trading can be for everyone , everyone is there to make profits (money) , but the fact some people can go to length in using all they've ever had to trade is mesmerizing!.
Some even go as far as getting loans , borrowing from friends so they could trade, or invest in some altcoins..
The same apply to other things like sports betting, gambling and all of them.

I had a friend who took a loan from the company he works for , about 30,000, which would then be deducted from his initial salary.
He then went on to use this money to trade , now psychologically he was just not ready for it because his whole mindset was just about making a huge amount of money that he ended up loosing everything.
So my advice to people who hurrily invest and use all the have is that the market is never running away.
Do not stake your all! Be patient follow guidelines, learn how to trade safely , thank you!

Now this is one take of yours that I can stand behind. A lot of people assume that just because you'd trade, you'd earn money, and in that regard, they'd put in as much money as they could possibly muster thinking that they'd be able to earn it threefold or more anyway, not knowing that trading at its core is a nuanced venture, and not every attempt at trading would result to a profit. So what should a responsible trader do? Pretty simple, just set risk appetites and budgets for yourself, that you would have to follow religiously.

Soon as you're able to do this, you'd be able to trade without the worry of losing out on so much, and furthermore, you'd still be able to eat and do whatever the fuck you want without having to adjust for allocating a part of your budget to trading.

Also, this goes without saying, but when you gamble, you also have to make sure that you diversify your assets in the best way you could.

Speaking about trading profits then it would really be just that the same in speaking about diversification on other assets or anything on which it could bring out that potential profits that you could be able to possibly
obtain but of course it wont really be something easy considering that budget allocation or capital is really that much needed. Investing would really be accompanied by a certain risks on which it would be needing up something for you to consider out on the moment that you would really be dealing up on something. Every actions that would be taken would really be having that corresponding risks but the important thing on here is that you should really that know on the things that you should gonna do so that at least you are aware on what are the possible actions taking just incase if shit things do happen.

Budgeting and allocation will really be that part of risks management on which this is something that you would really be needing up on the time or moment that you do find yourself having
dealing into something that involves money on which its a common approach to have rather than on being careless or wont really be minding that much about it.
So it would really be that detrimental on such aspect.