4) And lastly, Don't Invest more than you can afford to loose.
I think that the 4th advice was a good advice in 2011-2017. Today Bitcoin's price is very high, the market cap is already saturated and by investing a small amount of money, you are going nowhere because a tiny profit won't do much to a tiny budget. Today there are many reasons to be confident and invest more than you can afford to lose. One of the reason is the fact that governments, states and companies are creating Bitcoin strategic reserves and they are investing into it.
Nothing has changed since then, and this principle applies equally to everything where you invest your money. If you invest more than you can afford to lose, then in the event of a negative scenario, your financial stability will collapse and you will become bankrupt. There is no 100% safe investment.
I agree with you and I've got your point but I think that many things have changed since then and let me explain it to you. Today, governments are investing into Bitcoin, Trump might create a US Bitcoin strategic reserve. If the US does that, then many countries will follow that step and even without US doing that, lots of wealthy countries will do it. Websites countries, commercial banks also plan to create and hold Bitcoin reserves. These facts change everything. To my mind, these facts mean that Bitcoin is a very safe asset to invest. Lots of money will flow into Bitcoin's market cap.
Changes always works, but peoples never try to understand ground realities and mostly are having regret after facing consequences in my early days I was furious and never try to understand few points which were taught me but now feeling bad because having things out of control even after trying hard it's not easily coming back.
Trump is doing anything about bitcoin or not, but It's going to be had good impact due to many good points which are not opening world understanding and many countries are talking about this which is the biggest win for this now its matter of time all will be regret why they have no this sometime back now It's going to be had another good level.
Few countries are already bringing soft policies which will works then adoption could not problem because bitcoin will have own way.
Totally depends about acceptance on certain conditions on which it will be just that up to you whether you would adjusting accordingly basing up into the situation or you would be just that simply neglect it out and would continue to make up some loses just because you hadnt been able to apply those learnings that you have been able to obtain along the way? It would always depend on how well you do able to make yourself that learned up on various situations because learning up trading skills isnt something simple or you can be able to learn in a short time period. Mistakes and errors are inevitable but it doesnt mean that you cant be able to adjust accordingly. There are just that those times that we've been that too positive and due to that we've been that too careless with our trading positions and on the moment that we've been having those loses then this is where we do start on having those disappointment.
Mistakes are your learning stones for you to become better trader. It all matters about on how you would be able to adjust yourself accordingly and would be able to learn up those things along the way.
You wouldnt be able to realize these stuffs not until you would be losing up that much money on which you should be able to avoid it out if you are just that sensible into the actions that you are taking
and do stop yourself on being that delusional.