Rasa nanas
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June 04, 2022, 01:47:41 PM |
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the only mistake here is that your friends use important money or don't use unused money for investment. Using unused money is an important condition if you want to invest in crypto. using unused money for investing in crypto is an important condition because investing in crypto has a high risk and anything can happen, even LUNA who is in the top 10 of CMC can experience unexpected things.
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Japinat
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June 04, 2022, 04:11:18 PM |
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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 advice to everyone is our own choice, and no one can stop you if you want. However, we should never forget the risks that this crypto investments can give especially for newbies, as they may perceive it the wrong way. Just give but never assure them. Always tell them that crypto is certainly about profiting and losing. You will have an edge and make profits if you come up with good market analysis, but you can't stop yourself from losing if you end up with wrong predictions. After all, the crypto market will always be unpredictable, the reason why only few survived from it.
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tygeade
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June 04, 2022, 04:29:36 PM |
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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. The difference is, just because you may "feel" something, doesn't mean that it is the right feeling. I personally feel about the current situation as bad as well, but that doesn't mean that I should be doing something to regret just because of it neither. I feel like the best thing to do right now would be to calm down and invest without any emotions. I get that the market is bad and economy all around the world is bad, some worse than others, but that doesn't mean that we should be fearing and investing with fear. I can't make profit very quickly; it will take time and that is what I need to learn and just buy and hold for a long time ignoring all the other facts.
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jaberwock
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June 05, 2022, 07:00:38 AM |
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Giving financial advice to everyone is our own choice, and no one can stop you if you want. However, we should never forget the risks that this crypto investments can give especially for newbies, as they may perceive it the wrong way. Just give but never assure them. Always tell them that crypto is certainly about profiting and losing. You will have an edge and make profits if you come up with good market analysis, but you can't stop yourself from losing if you end up with wrong predictions. After all, the crypto market will always be unpredictable, the reason why only few survived from it.
Yes if you are the type of guy that is helpful and do care's for the people around you then chances are that you will talk to them and give them advises about finances because you see that they are on a bad situation. They are poor and not good at handling their money or investments. You gave advice because you know to yourself that you are knowledgeable enough on this field. If not then there is no point of doing it because you will only look like a fool and they will eventually find it out. Once we lose, it is very possible to stop it. Only those who won't stop losing are people that are too emotional because they will keep on coming back in the game without learning on their mistakes first.
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romero121
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PredX - AI-Powered Prediction Market
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June 05, 2022, 07:16:57 PM |
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Don't think of making random picks on any investment. Make a brief study and invest, it'll lower the risk of losing. With random pick some get to be lucky to profit big in the short term, and this isn't the reality with everyone. Investment should be upon an asset that have a future vision and needs a consistent growth over the years.
Even after perfect research, sometimes we land on the wrong one. Take it as an experience and don't do it again. With investment each and everything is a learning, and you need to be in the process of learning which surely brings win out of the market.
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SirLancelot
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June 05, 2022, 07:17:44 PM |
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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.
The golden rule of investment is supposed to be "invest only what you can afford to lose" but idk maybe the golden rule of investment is not only one? And the rule that you said could be one of it. I gave out some financial advice to my friend and there is nothing wrong with it because in the first place, they are the ones that ask it not me. From there they can agree that if ever they lose, they won't blame me for what happened to their money. Even if we know that we are one step ahead of them, we should not be confident with our ability but we must still be humble because at the end of the day, we can't predict anything that will happen in cryptos. luna coin for instance.
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og kush420
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 05, 2022, 11:27:43 PM |
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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.
I like what you said - my mother is like this - always giving medical and financial advices and I always ask her not to do that. Sometime when you give advice and person do it - you are held responsible so stay neutral - try not to be over smart by telling other that you know a lot. I am going to tell my mother the OP post in the morning.
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Streamixio
Copper Member
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June 06, 2022, 12:02:02 AM |
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the golden rule is "sell on the dip" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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LogitechMouse
Legendary
Online
Activity: 2534
Merit: 1041
Paldo.io - Crypto Airdrop Database
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 06, 2022, 06:29:46 AM |
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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.
It's very unfortunate to see investors can't carry the burden they got from investing into a wrong coin and they choose to end their lives. Well because of what happened, I think I will not also recommend other coins to invest with when they want to invest into crypto other than Bitcoin and Ethereum maybe. No other altcoin and I will just let them decide which altcoin will they invest their money with. 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 Youtube crypto influencers are always saying the infamous quote "This isn't a financial advice blah blah blah and it's only my opinion blah blah blah." I think giving financial advice is good in other assets such as the stock market because stock market and crypto market are very different. Crypto market is very volatile. I will still give financial advice if there is somebody who will ask me which coins do they need to invest their money with when it comes to crypto but I will only suggest Bitcoin and Ethereum. Investing in crypto is very risky that's why I'm always ready if the worst thing comes. That I invested into a wrong coin. To answer OP's question, I don't have any golden rule of investment but to stick to your plan that works for you.
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Nrcewker
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 06, 2022, 07:34:08 AM |
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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 give advice or take advice. That's the ultimate Golden rule. I mean it's your money, why to see someone who doesn't care about your money. In this case the fault is of the friends who took advice from your friend. What if LUNA has never fallen, and they have got 10x profits ? Will they share the profit with your friend. And a small tip to all the investors including your friend's friends. Invest what you can afford to lose. Else Later period of time. You will cry on your decisions. Hope this helps you Op to understands the situation better.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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og kush420
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 06, 2022, 03:11:59 PM |
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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 give advice or take advice. That's the ultimate Golden rule. I mean it's your money, why to see someone who doesn't care about your money. In this case the fault is of the friends who took advice from your friend. What if LUNA has never fallen, and they have got 10x profits ? Will they share the profit with your friend. And a small tip to all the investors including your friend's friends. Invest what you can afford to lose. Else Later period of time. You will cry on your decisions. Hope this helps you Op to understands the situation better. That's very good point mentioned. Even if you take advice of someone - do your research and take appropriate measure accordingly. Never trust what people say - use your mind to and decide wisely.
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Viscore
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 06, 2022, 03:41:25 PM |
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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.
Sometimes, giving personal advices can even lead them to their worst life's situation. The reason why as much as possible, i never tell them what to do and what not do. Because in my mind, once you enter the market then you should know how to manage the risk and accept losses once your decision making does not work out. Although we are free to give financial advices, but for me i prefer not to do it because i know that all of us are like sailing in the waves with no guaranteed destination. Everything is a challenge in the crypto market.
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| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
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Cryptock
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June 06, 2022, 05:17:22 PM |
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The reason why as much as possible, i never tell them what to do and what not do. Because in my mind, once you enter the market then you should know how to manage the risk and accept losses once your decision making does not work out. Although we are free to give financial advices, but for me i prefer not to do it because i know that all of us are like sailing in the waves with no guaranteed destination. Everything is a challenge in the crypto market.
This is so unfortunate that some advices are so bad that it ruined the lives of the people. I have learned it hard way - and I don't listen to the free advices given by ever passer by - so it's good to keep yourself save by doing a bit of research and then decide what to do and what not to do.
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virasisog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 06, 2022, 05:44:44 PM |
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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.
Giving financial advice is a good innitiative but it's also important to enlighten them about the risk of crypto investment. We should educate them about the possible outcome and advice them to invest what they could only afford to lose. We also shouldn't force them and let them decide on their own so they won't blame us if their investment fails. It's all about enlightenment so they will have the right mindset towards crypto investment.
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stomachgrowls
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June 06, 2022, 06:57:42 PM |
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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.
Giving financial advice is a good innitiative but it's also important to enlighten them about the risk of crypto investment. We should educate them about the possible outcome and advice them to invest what they could only afford to lose. We also shouldn't force them and let them decide on their own so they won't blame us if their investment fails. It's all about enlightenment so they will have the right mindset towards crypto investment. Always tell them about the risk whenever you do suggest someone about crypto because most of the time the primary impression of people is that crypto is just an easy money quick scheme thats why its always been suggested that you should not really make out those kind of guarantees on making profits because you would really be taking the blame once these fellas had faced up the reality. Golden rule about investment would be always on investing on the amount which you can afford to lose as always.
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Vaculin
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June 06, 2022, 09:56:44 PM |
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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.
Sometimes, i really give financial advice when it's necessary. But i have always been honest to them and tell them that there are no easy and quick profits in the crypto market, losses and hardships must be endured first. So i make sure they understand my point so they won't expect to always see the rainbow but more on rain in their first experiences. That's also my way of not putting the blame on me whenever things have been totally bad for them.
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Sebas.tian
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June 07, 2022, 04:59:12 AM |
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Always learn how to carry out your personal research before investing your money on a particular project, because it will really help you to identify the type of project you are investing. Don't be an hurry to sell your coins whenever you see people rushing to the market to sell than to study the market price very well, if it is favourable at the moment for someone to sell and make a good profit or to hold to avoid losses from the market. Do everything possible to observe all the rules that guided crypto investment because it will really help you to remain in profit making in the community.
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Wong Gendheng
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June 07, 2022, 08:20:18 AM |
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As investors, of course, we have to understand risk, most of us just focus and think that when we invest, we will definitely profit, even though the two sides, namely profit and loss, are the same, and when bad things happen we usually panic and immediately sell even with a loss position, this is a mistake which is common.
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Mauser
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June 07, 2022, 09:32:34 AM |
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I wouldn't say that to avoid giving gambling advice, or to listen to others is the golden rule of investing. We can't no everything when it comes to investing, the markets are to big. It can be helpful to take advice from others, but we should always remain critical and make up our own mind. Trusting others blindly is foolish, but making our own research after getting advise from others is clever in my opinion. For me the golden rule of investing is Diversification, never put all your money into one basket. Luna is a great example for risk management and how diversification would have protected us from decesratinv losses. If we limit ourselves to not put more than 10% of our money into one single alt coin, then we would only lose 10%. Owning multiple coins might make us lower returns if one particular coin rallies, but it also lowers our risk profile considerably.
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iv4n
Legendary
Online
Activity: 3234
Merit: 1178
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June 07, 2022, 01:07:16 PM |
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After reading what OP wrote the first thing that fell to my mind is "never invest everything you have in one thing, especially not in some unknown project!"! I mean Luna?! For real?! And I guess it's perfectly fine if someone wishes to throw away a few bucks just in case it's a real deal, even with 50-100 dollars investment can bring a huge profit if it goes over x100, to not mention if it goes x10k one day! But what is crazy is to invest everything you have in some "Luna"! I am not sure what those guys were thinking... I wouldn't advise anyone to do something like this even with Bitcoin!
This thread is like a lesson for all of us! Never chase for quick profits! If you wish to have some fun and try something, it's ok, but with 1-2 percent of your capital!
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