Quote from: jaberwock on September 30, 2024, 05:18:03 PM

Quote from: rhodelmabanal on September 27, 2024, 11:33:46 AM

Taking risk is very crucial part specially when we don't know the outcome of the risk that we take. Sometimes we failed and sometimes we loss but only one thing for sure is that we gain experience everytime we got failed or everytime we loss, if we don't take risk we cant earn big profit we are just like an investors that has so many regrets in the ends in my own opinion i think taking risk is the key to improved.

I think that if we don't know the outcome, we are afraid to take risks but if we do know it, and we know that the outcome is mostly positive, we will be ready to take risks. Not just losing but winning or profiting can also give us an experience and the experience can be more, just like when we play a video game where we are also being rewarded with more experience once we defeat our opponents or if we successfully completed a quest.

In life, all has a risk but there are still poor people. If it was about taking a risk, investing in assets like Gold and BTC, then losing is also possible. Money isn't all anyways but poor people can still be able to regret. Regrets are normal and still shapes us. It must have a reason on why it occurs. So, I won't totally beat myself up.

How could anyone know what the risk or the result would be? Nobody really knows, and nobody can predict the market, we can make assumptions which is fine because that is all we do and speculation for the future of the price is what we are capable of doing, which is why we shouldn't really be having confidence that we "know" the price, we should totally just assume that we are making a prediction.

Difference between these two is that if you predict or assume or guess, then you would just invest whatever you can afford to lose, and take that risk, but if you think you "know" then you are going to be too hungry, as in "I would sell my house and do this because I know it" levels, I can sell my house too, would be nearly 200k, and if I know something, I can double my money and do that a few times and move into a mansion, do I ? I don't because I don't know what's going to happen, I am just guessing and that is the most important part, realizing we are just guessing.