Invest what you can afford to lose 👌
A phrase you hear often from content creators because it's important, but what does it mean:
- Crypto is the most dangerous field, especially altcoins, and 80% of the currency's movement is mostly in fluctuation.
A rise of 50%, a drop of 30%, and this can last for a long time.
- 20% of the currency's movement is where you make money.
- So if you take rental money, borrowed or sold your car for example, and you need this money, your mindset won't be able to handle the fluctuations because this money is tied to something you need.
- You will sell at a loss and curse the market, and when it rises you’ll be afraid and enter at the peak, and the cycle continues.
Take that phrase "Invest what you can afford to lose" literally; it's not just something content creators say, it's the most important thing in buying altcoins, and when you apply it, you will feel psychologically at ease, and every drop you see will feel normal.
And you will outperform 90% of people.