What is the golden rule of investment?

[lionheart78]

Sometimes it's better not to help people!
I always make fun of him when he is in trouble in the game, I'm not going to help you, I bet it's going to be better for you if I don't!

Unknowingly you help your friend by not going into his house  .  It is ok to help people but we must make sure they understand what we are saying.  On the other note, it isn't good to spoonfeed them because they will miss the opportunity to research and deepen their learning skill.  Their insight will be narrowed down because they miss gathering other information that can broaden their knowledge if we keep on spoonfeeding them.  As you said not helping for their own benefit and as long as it is not a matter of life and death strengthen them.

[dataispower]

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

It's very simple and quiet understood that advising some to invest it money in cryptocurrency have two ways and if you did not explain well and get your hands off from the investment, if something happens and especially lost the person will turn against you or it may ask you to pay back the funds. Cryptocurrency investment is investment that come with profit and lost, and if you are introducing some body tell the person to invest in any coin he feels is good for investment and let he note that coin can fall and you will not make profit and when it rise you make profit, after instructing the person like this you will see that if the investment go wrong nobody will blame you

[kapalmabur]

Sometimes it's better not to help people!
I always make fun of him when he is in trouble in the game, I'm not going to help you, I bet it's going to be better for you if I don't!

Unknowingly you help your friend by not going into his house  .  It is ok to help people but we must make sure they understand what we are saying.  On the other note, it isn't good to spoonfeed them because they will miss the opportunity to research and deepen their learning skill.  Their insight will be narrowed down because they miss gathering other information that can broaden their knowledge if we keep on spoonfeeding them.  As you said not helping for their own benefit and as long as it is not a matter of life and death strengthen them.

Helping in some ways and at the right time is a good thing but on the other hand if we continue to help people in the wrong way it will make that person not grow.
help is not always in the form of money because there is much we can do to help,
Continuous feeding is certainly not a good thing and we need to know the portion

[passwordnow]

Agree, when we are active to advise people to invest, there are 2 possibilities, if he gets a big profit usually will forget our advice

Not just your advice that will be forgotten if ever they become successful with those tips you've told them but, as well as you, you'll be forgotten by them and won't acknowledge your advice.

but if he loses he will continue to blame us, this is what makes me never invite friends or family to invest in Forex, stocks or cryptocurrencies, even though I get profits from stocks and cryptocurrencies, but I have never said in detail to those who ask about my investment especially cryptocurrencies.

This is nothing new to the people that we've been dealing and that's why it's always better to put a discretion or caution before they invest so that there won't be blaming whatever the outcome of their investments.

[jrrsparkles]

You can give advice to the people but taking them completely blind is their own fault not yours even if the advice is coming from Warren Buffett it can be wrong because we know what he is saying about bitcoin for years but he has been wrong all the time so take their advice and do your own research before proceeding further.

[Joshapat]

Sad when I see the story of your friend who goes crazy, I'm sure this is because we are too optimistic that the future will always be good and continue to profit, this is an important lesson for me that when investing it only uses the money in the pocket, will not issue from bank account even though whatever the situation.

[Uang_kartal]

luna is still quite discussed and the latest news is the launch of luna V2.. or 2.0.
Before entering the exchange, we are always reminded that crypto assets are as ridiculous as they are. They are volatile and cannot be controlled wherever market prices will go.
he can fall millions of % even rugpul. That's the first economic instrument, I'm not all the same fate.
friend, maybe you remind or advise someone so that they feel safe with the research they are looking for. but I'm sorry even for all victims who are similar. whatever the decision, it should not be blamed on those who only provide information. it's just sharing

but reality is not that easy,
when buying at the top and plunged in just 1 day.

Golden rule Cryptocurency is adventure and surprise.try observe, follow, research DWYOR

[YOSHIE]

You believe now that investment is risky, no matter the pope, investor, layman and so on, if it happened like your friend, then who should be blamed.....!

For this reason, people always remind crypto users, especially those who make long and short-term investments, Never underestimate the saying, eggs must be divided into several baskets, don't try to put them in one basket.

The problem that happened to Luna reminds us all, anything can happen to crypto without guessing, so consider it well before investing in the future, remember risk can happen at any time, unexpectedly.

[TheUltraElite]

I followed Bitconnect very closely.  I tried warning people for months on end. Mostly met with a lot of hate saying "I'm jealous".  Crazy that there are people who actually believe this nonsense.  I don't know much of anything about Luna, was it actually a scam or just a pure shitcoin that crashed?

I would take the second one. Because I dont invest in altcoins anymore at least not the newly hyped ones, I found out about LUNA after the crash happened, while Bitconnect in the past was making headlines for a long time before it finally crashed. Luna's timeframe was much shorter which is why bitconnect was rather able to garner a bigger population hoping to get huge returns.

Either way it is just the two sides of the same coin. Invest in one and you will be guaranteed to lose money. And that jealousy of having seen a "friend" profit is what pushed many people to invest in such scams and lose their money one fine morning.

Safer bet is always bitcoin, we old timers have understood this, me personally from observing the changes in market.

[Mometaskers]

Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

Why would they even go all in? "Only invest money that you can afford to lose" is an old adage here. Those guys don't sound like they were investing - they were gambling.

Exactly, this is what they are doing here, it's the risk that they are willing to take, a big gamble and unfortunately, they've lost everything.

So yeah, there is a lot of golden rule with regards to investment. But I don't think that majority of crypto investors are adhering to it because they want crazy returns and thinks that crypto is a get rich quick scheme and then they sold everything invest on it and later lose big. Lots of lessons to learn on that LUNA debacle and hopefully everyone understands how not to fall from it.

Can't really blame them taking such risk with the state of the economy now. These guys probably can't think of anything else to make money during these times. But still, it was not a wise decision to gamble all that money. Rather just make do with the little money they have than lose that.

[Renampun]

I have a friend who invests in cryptocurrency like me, he is an investor hold Luna and he has also lost quite a bit because of Luna. But what's more sad is his 2 best friends. Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

right now, if you want to keep your friendship lasting, then don't do things that are likely to be dangerous for your friendship in the future...

I have also experienced this, when the bitcoin price crashed, my friend said I invited her to a fraudulent investment, even though at that time the bitcoin correction was more than 50%, now the bitcoin price has returned but our friendship has not returned.

[Sanitough]

I have a friend who invests in cryptocurrency like me, he is an investor hold Luna and he has also lost quite a bit because of Luna. But what's more sad is his 2 best friends. Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

This is why giving financial advice is something one should never do because that will make him responsible for the future outcome of those investors, either they succeeded or failed in crypto investing. However, i think one should never put the blame alone on the one who gives financial advices, but its more on the investor itself. If he thinks he is not capable to sustain his profits in crypto, then he should not take investments in crypto in the first place. He is the one that should make more efforts to gain, and not the financial adviser itself.

[Shasha80]

You believe now that investment is risky, no matter the pope, investor, layman and so on, if it happened like your friend, then who should be blamed.....!

For this reason, people always remind crypto users, especially those who make long and short-term investments, Never underestimate the saying, eggs must be divided into several baskets, don't try to put them in one basket.

The problem that happened to Luna reminds us all, anything can happen to crypto without guessing, so consider it well before investing in the future, remember risk can happen at any time, unexpectedly.

All investments have risks, so we must be prepared with all the risks that will occur, including accepting if we experience losses when investing.
And don't be too blaming other people's opinions if it ends up making us suffer losses, because from the start we were wrong to be too optimistic
with other people's suggestions will generate profits. The first lesson when investing we don't trust anything other people say, always compare
the opinions of others with the results of the analysis that we do ourselves, to be able to take the right decision. The second lesson that we must
remember when investing is like what you said we should not invest only in one coin. We have to invest in several coins, in order to avoid the risk of
losing all the money we have. Because if one coin suffers a loss, we can make a profit from the other coins.

[Johnyz]

You can give advice to the people but taking them completely blind is their own fault not yours even if the advice is coming from Warren Buffett it can be wrong because we know what he is saying about bitcoin for years but he has been wrong all the time so take their advice and do your own research before proceeding further.

There’s nothing wrong with giving advices maybe the wrong thing here is that, you give too much hope for them without telling the whole scenario in this market and we all know, this market is not always about making profit its too volatile for that. The golden rule is to invest what you can afford to lose, and expect nothing this is way better for me. If your friend lose money because of your tip, I guess he has a fault too and no one should be blame for.

[crzy]

You can give advice to the people but taking them completely blind is their own fault not yours even if the advice is coming from Warren Buffett it can be wrong because we know what he is saying about bitcoin for years but he has been wrong all the time so take their advice and do your own research before proceeding further.

There’s nothing wrong with giving advices maybe the wrong thing here is that, you give too much hope for them without telling the whole scenario in this market and we all know, this market is not always about making profit its too volatile for that. The golden rule is to invest what you can afford to lose, and expect nothing this is way better for me. If your friend lose money because of your tip, I guess he has a fault too and no one should be blame for.

This is a simple rule yet many still ignore it and always go to all in which is a bad decision at all. We can give advices but we cannot force those people to follow it and maybe he lose because of his own greediness. Don’t blame yourself and I hope that your friend will realize his own mistake and correct it later on. He can still get that money back by investing on other project, it’s not too late for that.

[Fatunad]

I have a friend who invests in cryptocurrency like me, he is an investor hold Luna and he has also lost quite a bit because of Luna. But what's more sad is his 2 best friends. Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

"Never go all in"
"Invest on what you can afford to lose"
"Dont get FOMO,FUD"

Most common line of advises wherever you do tend to engage with crypto investment thats why you should be mindful
on following these basic rules but its really that effective on saving up your ass on getting wrekt.

[Finestream]

I think we can give financial advice to anyone.
But we must also emphasize that investing also contains risks and explain that investing only uses the money we can afford so that if something happens to our investment, it will not make us suffer a lot of losses.
If we can do that, I think they will understand and will not be so greedy in their pursuit of profit that they will not try to spend more money if no information can benefit them.
But if you decide not to give them financial advice, that's also okay because we leave it entirely up to them and hope they can do their research before deciding.

Giving financial advices to anyone is never a mistake, but relying on your words alone can create a huge mistake on the part of the person you are giving advices to. But if you are also a responsible investor, you should never take it easily as you also have to do your part through researching and building good strategies that will make you profitable. But if you're only here for quick profits because that's what you've understand from your peers, and that you go into an adviser that is not also reliable, so definitely you will end your crypto investments being rekt. In this case, all are responsible on your losses.

[n0ne]

Just tell him them there is LUNC 3.0 and this time when its reaching to its ATH, you advice them to sell.  

I have experience the same because it felt like I am a pro when I profited a lot during the bull market so I advised them to hold but when I told them to sell already.  He also object because he remembered me saying to HODL. Now it seem like my fault. It took me days to convinced him to sell and when he finally sold the coins, he still blamed me for telling him late.

The golden  rule is to sell when the price hits ATH.

The rule is to sell when the price hits ATH, but it is quite a hard task to confirm the ATH price of any cryptocurrency. Some might get lucky in this.

If you're in a state of giving investment advice, suggest him and request him to do his own research and invest with the amount that he can afford to loss.

When it comes to money, there'll be similar issues arising, because everyone make big plans out of their investments. When it fails, it pains them.

In most cases, when we're new to the market we should focus on booking profit at the earliest and never hold long for big multiples. More that we hold we have the risk of losing too. So, based on our ability should be our investment plans.

[Oilacris]

I think we can give financial advice to anyone.
But we must also emphasize that investing also contains risks and explain that investing only uses the money we can afford so that if something happens to our investment, it will not make us suffer a lot of losses.
If we can do that, I think they will understand and will not be so greedy in their pursuit of profit that they will not try to spend more money if no information can benefit them.
But if you decide not to give them financial advice, that's also okay because we leave it entirely up to them and hope they can do their research before deciding.

Giving financial advices to anyone is never a mistake, but relying on your words alone can create a huge mistake on the part of the person you are giving advices to. But if you are also a responsible investor, you should never take it easily as you also have to do your part through researching and building good strategies that will make you profitable. But if you're only here for quick profits because that's what you've understand from your peers, and that you go into an adviser that is not also reliable, so definitely you will end your crypto investments being rekt. In this case, all are responsible on your losses.

Listening to others is bad and as also being an advisor is easy or just saying those common sense word but on the time that you are on the actual situation then applying  those things wont really be that simple for you to follow

Any investment do accompanied with risk therefore its just understandable that you would need to be doing research and analysis before making such step.It might not be simple but doesnt mean its impossible.

Having a good grasp and take that risk management is something crucial when it comes to this field and this is should how an investor do behave on.

[Zilon]

I agree with you @ OP because most financial advice can be used against the adviser it is best every investor does their own research and be held accountable for their success and losses. To be on the safer side it is best to introduce people strictly to bitcoin and avoid shit coin if they insist on shit coin investment advice then their own research will be needed for that.