What is the best advice you ever heard in case of investments and all

[imstillthebest]

Buffet I think recommends just watching your basket very carefully.

you mean watching your coins ? would it be better if he says watch the market or watch the price of the coins rather than watching your coins alone  .

I doubt he advocates just one investment but people can end up spread over multiple sectors while never truely knowing any of them.

putting your eggs in one basket is okay as long as that coin is a great coin that can increase atleast mid or long term ( eth is the best example ) but btc  is more suitabe  . spreading your funds on multiple coins is also good but you must first read the label of every coins that you will be picking .

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[joinfree]

Do your own research sounds like an anthem in this community but the one that really gets into me is that you only lose when you cash out. I remember i sold quite a number of bitcoins back when prices were below $10k that would surely be to my loss now that we have crossed $11K and have even tested the levels of $13k for a short while.

[sana54210]

I think one of the best advices I have heard in regards to investments, is that one shall not put all your eggs in one basket. Learn diversity. If you don't you won't get ahead of what you expect to earn. Also, don't count chicks out of eggs that haven't hatch. Avoid giving yourself disappointments.

In cryptocurrency? That advise use to be valid when altcoins were still being respected, but as we see now that bitcoin is the only respected coin for now and most altcoins are going down seriously, so what is the point diversifying into altcoins that would still not make any impact rather than tie your investment down for life without any hope of getting it back.

At this point, I think it is better we put all our eggs in one basket of bitcoin and then jointly push the market into bull run which can allow us make the money that has been tied down into altcoins for too long, but outside cryptocurrency, this advice is valid and still the best to follow in other to have multiple source of income. One can diversify into bitcoin investment, real estate, gold and other things that can be counted as investment.

[fullhdpixel]

I think the best one has to be "do not invest your money into stuff you do not understand". I think it was Peter that said it but many great investors says the same thing including the almighty Warren Buffet as well.

You have to understand what you are putting your money into to really know what you could expect, if you are putting your money into something that you have no idea about than something you do not understand could happen and you could lose money however if its something you understand than you can at least know what to expect and can be prepared for bad stuff to happen if it looks like it.

I personally never really put my money into construction business for example even though its a big business in my country because I never really understood it, but I always put my money into banks because I really know how they work and what I can expect.

[qwertyup23]

Based from my personal experience, diversifying would be my best advice for starters.

Diversifying investments makes your investments relatively secured especially if you invest in blue chip companies that yield returns in a consistent basis. Although the realization of profits may be longer, the yield is stable and secured. Another thing to consider is to purchase bitcoins and view them as short-term investments. Take advantage of their high-volatility and cash them out as soon as you see your margins increased.

What I would advise against is to do trades that are high risks with relatively low yield. Do not test the market especially if you lack the background, knowledge, and data to support your decision.

[bittraffic]

One advice that has been very true in crypto and I guess everyone also have heard of this advice that says:

"If it looks too good to be true, its must be a scam"

Doesn't have to explain much if you are looking to invest into an altcoin. If it offers something you almost can't believe, it must be unbelievable.

[BitBustah]

The best advice is "life is short",  money is cool and all but don't let it consume your life when the most valuable resource we have is our time on earth.  Material possessions won't bring you happiness past your basic needs.

[superving]

Invest on long term projects that build everyday, not stopping to develop their project which can be use by all of the people in the future.

[STT]

Based from my personal experience, diversifying would be my best advice for starters.

I've never agreed with placing it all on one thing, because this market is too open to abuse.   The outside chances of unknown news striking down what was previously a good venture is too much of a possibility.   I have to agree, the best advice is never be all in one place.   The fact is when you vary risk, sector and your allocation size it puts you in a better frame of mind.
   You will see value best when contrasting it against each other.    Also by keeping a variety of risks, you can justify taking greater risks.  My best performer is my most risky share but if I have taken profits and placed those profits elsewhere then I can keep holding a share with just 1 asset in country which is volatile, but I already gained from it.    Always have security close to home, unless you can afford to lose everything and have no obligations then I guess the risk is yours to take.

[tippytoes]

Based from my personal experience, diversifying would be my best advice for starters.

I've never agreed with placing it all on one thing, because this market is too open to abuse.   I have to agree, the best advice is never be all in one place.   The fact is when you vary risk, sector and your allocation size it puts you in a better frame of mind.
   You will see value best when contrasting it to your best performance.

As the famous investment line says - "Never put all your eggs in one basket." Also, you should familiarise yourself in the trading market as plunging to the unknown is like trading blindly. That will cost you money if you do such practice.

[Kemarit]

"Buy when there is blood on the street". Initially I didn't understand this, but later on specially when I started to invest in crypto, that I realized that this saying is somewhat very true in this market. So if the price drops, and I have extra funds to invest, I immediately jump on the chances and stash my Bitcoin wallet. This is a contrarian belief, if I'm not mistaken, but as per my experience, this is very effective strategy in Bitcoin market, IMHO.

[Oilacris]

"Buy when there is blood on the street". Initially I didn't understand this, but later on specially when I started to invest in crypto, that I realized that this saying is somewhat very true in this market. So if the price drops, and I have extra funds to invest, I immediately jump on the chances and stash my Bitcoin wallet. This is a contrarian belief, if I'm not mistaken, but as per my experience, this is very effective strategy in Bitcoin market, IMHO.

Even myself do following such system.Invest when the price dumps or most people are on fear but sometimes this kind of buying patter isn't really that easy.

You would really still have that hesitance to accumulate due to unpredictable movement of the market.We wouldn't know if the price would go even more as we buy which in result to loss or gradual negative.So I would say that it isn't really that easy to make decisions into these cases.

[samputin]

"Diversification may preserve wealth, but concentration builds it."

Honestly, this, by far, is the most convincing advice that I have ever known when it comes to investing.

Putting bigger portions of investment on something you know is a better idea rather than investing small portions of investment to something you don't know or understand very well. And I think one of the best example of this is Bill Gates. His billion dollar net worth was gained not because of diversification but by creating something that he had control over.

The adage can mean bigger risk. But after all, taking risks is what makes life worth living.

[leavolnhals]

The best advice I've ever received is knowing how to manage risk and accept mistakes.
When I first traded, when my coin dropped more than 10% but I still didn't cling, I still hated the failure and determined to hold it.
and then i lost over 90% of my portfolio and suddenly realized i was too stubborn.
The above advice really helped me win a lot in recent deals. I feel very grateful for this advice.

[FanEagle]

Another great advice would be "calculate your salary 5%-10% less, that way you can prepare yourself for less income and save the rest". I have been doing that for years now (almost 3 years) and I was close to having a great deal of money for myself (not big for others specially in other countries but a huge sum for me in a third world country) however I had to cash it out for some medical emergency unfortunately, it was bad bad days for me and I even had debt that I had to pay on top of that.

However, now I am slowly getting back on that debt and its almost over (in this October I will be debt free) and I will start doing the same thing once again, hopefully this time nothing bad happens and I can finally reach my goal of not having to work again in my life with the money I have.

[Betwrong]

I don't remember who said this, but I think it's a good advice regarding investing your free time, so I will try to express the main idea of that advice below.

Normally we are working from 40 to 44 hours per week, but a week consists of 168 hours. Yes, around 56 hours(7x8) per week must be spent on sleep, but we still have around 70 hours of free time. Don't try to earn an extra several bucks during those hours, but rather invest your free time in learning some new skills. This will surely pay off in the future, while an extra several bucks can't significantly improve your life. And, of course, don't forget to just rest and relax during your free time. No one can be only working and learning all the time.

[nightxglow]

The best advice i've heard is invest as early as you can, and i think it's very true. It doesn't mean that we have to be careless and don't think straight when we invest, but more like rather than we think "Maybe i'll invest later." or "I don't think now is the right time." we should act and don't hesitate anymore. Because we don't know what will happen unless we start. And invest early can be beneficial too in some cases. Like for example bitcoin. If i invested bitcoin early, then i surely gain many profits because later on the price is high. Rather than i invest that time when the price is already high. But still we don't know what will happen in the future so it may be quite invalid.

[Reid]

Hey
Well let's start , everyone please feel free to share the best advice they think is what made them what they are today in terms of investments .
I think learning about managing your money can never be easy , but maybe we can make this a thread worth reading by the new investors and even the old ones ..never hurts to redefine your strategy.

As for me it was
*You never loose until you cash out*
Taught me patience.

That is a good one and I hope it still teaches you well.
Forgetting one wise advise could really mean all your decision and choices in your life.

There is one thing I can never forget.
Invest only at what you think you could also lose.
I mean, that is simple but when you take a deeper thought it will meaningful that every steps in your life could also be based on it.

[iMark]

The best advice i've heard is invest as early as you can, and i think it's very true. It doesn't mean that we have to be careless and don't think straight when we invest, but more like rather than we think "Maybe i'll invest later." or "I don't think now is the right time." we should act and don't hesitate anymore. Because we don't know what will happen unless we start. And invest early can be beneficial too in some cases. Like for example bitcoin. If i invested bitcoin early, then i surely gain many profits because later on the price is high. Rather than i invest that time when the price is already high. But still we don't know what will happen in the future so it may be quite invalid.

But it's not always a good advice, sometimes you have to wait for the right time to come in and buy. like when panic selling in the market, certainly its not the right time to buy right? investing is not about early, but about sensitivity with the opportunities and knowing you have to go in, buy, or wait.

[Betwrong]

~ for me it was
*You never loose until you cash out*
Taught me patience.

That is a good one and I hope it still teaches you well.
Forgetting one wise advise could really mean all your decision and choices in your life.

There is one thing I can never forget.
Invest only at what you think you could also lose.
I mean, that is simple but when you take a deeper thought it will meaningful that every steps in your life could also be based on it.

That's right. If we may need the invested money in the nearest future, it's hard to follow this great advice: "You never loose until you cash out". It's only when you can forget about the invested money for  the next several years, you can patiently wait until your investment pays off, never cashing out at a loss. Of course there's always a possibility of waiting forever for that, but since we can afford losing those money, it's no big deal.