Invest your money wisely - another lesson, Techie tries to suicide.

[siniminomorocomunisakito]

Before taking risk in investing we need to be wise, Do some research and study first your target crypto currency. As we all know that high volatility of crypto market anything can happen to our investment. We will be happy we earn bug profit but if we loose it can lead to depression and stress. It is hard to accept if we are going to loose everything in investing that can affect our mental health. That is the reason why other people think of suicidal attempt which is very wrong. Do to avoid that research and study first and do not all your money in one investment.

Corrections are very vulnerable to occur, especially in recent times. The crypto market, in particular, can be highly volatile and unpredictable, resulting in high profits and heavy losses. The possibility of losing everything can give rise to feelings of depression and stress, let alone logging in and hearing references from unknown sources. I also wonder why people don't take certain things - of course, for example choosing coins/tokens that have been proven and tested for durability, there are still those who try to invest in meme coins.

[Inwestour]

There is the belief that if we train hard enough and we prepare ourselves then we can do everything that we want, however while I do agree that this is true for the majority of the cases, at the same time I think there are some people which will never be proficient at some topics, and I think this is the case here, he made so many mistakes, not only on the markets but even outside of them when he tried to take his life, that I believe the best thing he can do is to never invest on any market, as the same scenario could happen again and next time he may not be as lucky.

If there is a business that you like, then you can achieve good success in it, but there are a number of rules that you will have to follow when it comes to money, otherwise the result will always be the same.

If he wanted to become a trader, or an investor, then he should not have done any manipulations with credit money. If he wanted to use his mother’s money, then we can still understand, if his mother allowed him to do this, but with credit money it’s not so simple, because they need to be paid monthly and he should give more than he took.

He is too young, and most likely started a big game without proper experience, excessive haste never led to good results, the result of such stories will almost always be the same.

[Synchronice]

He broke first rule of investment.

Only invest what you can afford to lose.


I really want to say something nasty and flippant, but I won't.

 Instead I will hope that he learns from this and does not over spend on investments.

I think that one can't succeed by only investing what he can afford to lose, the more you put, the more you get. People with low budget can't put more, i.e. can't get more, so at the end of the day, their condition is not hugely affected. And I think that is not the problem here, really, I'm serious. The actual problem is the attitude people have towards crypto and investments. No one thinks about risks, all they think about is their dream about how they will spend their life on yacht with millions of dollars. People think like the guaranteed outcome from investment is tons of money, no one thinks about how so guaranteed is total lose of every single penny. People are really in dream-like state when they make investment, they only wake up when they lose.

[Latviand]

Had those 36k would have been spare money, this wouldn't escalate to suicide (tho, there would be regret) — these loans, using pension to invest are exact opposite of, 'only invest what you can afford to lose".

Totally, but that person should've seen things coming when he was getting loans to invest, the escalation was pretty big imo, unless there's other external factors besides the crypto losses. Goes to show that we need to be mindful of what we invest and what might be our our potential actions be when things don't go our way.

[DanWalker]

~snip~

Today, my school friend came to check on me and asked me to guide him about crypto investments. I am surprised that he knew about crypto scams, he seemed very cautious in comparison to those who wanted to make quick money.

As someone like that, he is unlikely to make any dumb mistakes as long as he is calm enough to learn everything possible about crypto.

Do you guide and impart crypto knowledge to him? I have never met such people, most of the people I meet always ask me how to get rich quickly, and they hardly think about the risks when investing. They always ask if the profit is high? How many days will they receive profits?... All those questions make me depressed, do not want to share anything with them. I reject most people who ask such crap questions. It's hard to find someone as careful as your friend, or he researched the market long before coming to ask you, but it also shows that he is a very careful person.

[Joshapat]

Nowadays there are many investment options, especially now that investment provides convenience because of the presence of smartphones, if in the past we had to come to the office and queue to buy shares then with just a few touches we can buy shares, but we have to be vigilant about the investment we choose, don't it is too easy to believe in investments that promise too large a profit, this is an indication that it will become a scam.

[Negotiation]

Making investment decisions involves careful research and analysis ideally, you should have a strategy based on your risk profile and not invest more than you can afford to lose. No one will commit suicide if they invest in the right place there are many currencies in crypto that offer good investment opportunities and serve as alternatives. Chances of getting scammed will be less and good profit will be made. Also, if you want an alternative method, you should know about the sites well before buying shares.

[bestcoins1]

Nowadays there are many investment options, especially now that investment provides convenience because of the presence of smartphones, if in the past we had to come to the office and queue to buy shares then with just a few touches we can buy shares, but we have to be vigilant about the investment we choose, don't it is too easy to believe in investments that promise too large a profit, this is an indication that it will become a scam.

Smartphones are just devices, and are not much different from other devices such as PCs and laptops or tablets. In fact, what makes it easy for everyone to invest in this highly advanced era is the presence of internet networks in all corners of the world, which many people can take advantage of by accessing whatever they need. And in terms of scams, I don't think it only happens in the digital or internet world, but in terms of real investment, you can also experience a scam if the company that we invest in becomes bankrupt.

[Litzki1990]

Yes we should invest the amount of money we can afford to lose. That is, the amount of money you invest will be deducted from your total money. I don't see any need to invest so much in the beginning. There is no need to take loans to invest, to sell mother's gold ornaments, to hire with parents' pension money. 
Maybe you say you don't have money to invest so you take a loan Investing by taking a loan can never be a good decision.  As I said earlier, invest the amount you can afford to lose.  There is no question of borrowing in my words. If you don't have money, try to earn money as well as get ideas about investing and when you have enough money to invest, hire on a limited basis.

[darewaller]

I think that one can't succeed by only investing what he can afford to lose, the more you put, the more you get. People with low budget can't put more, i.e. can't get more, so at the end of the day, their condition is not hugely affected. And I think that is not the problem here, really, I'm serious. The actual problem is the attitude people have towards crypto and investments. No one thinks about risks, all they think about is their dream about how they will spend their life on yacht with millions of dollars. People think like the guaranteed outcome from investment is tons of money, no one thinks about how so guaranteed is total lose of every single penny. People are really in dream-like state when they make investment, they only wake up when they lose.

I think that is true but we need to find a middle ground as well. If you think only about the risks and have no dream then you won't buy, why would you buy something you think that is risky and have no dreamy level of profit potential? But if you only think about the dream and not the risks at all, then you end up like this techie as well.

So you need to be aware of the risks, and aware of the potential profit at the same time, if you can do that then you would be able to actually make a profit from it as well, should be considered a good idea. I personally know the risks and I also end up dealing with whatever it can provide me as well, and that is why I invest what I can afford to lose. If I end up losing it all, I won't be poor, if I make profit, I will be happy. Those are the options for me.

[Baoo]

Yes we should invest the amount of money we can afford to lose. That is, the amount of money you invest will be deducted from your total money. I don't see any need to invest so much in the beginning. There is no need to take loans to invest, to sell mother's gold ornaments, to hire with parents' pension money. 
Maybe you say you don't have money to invest so you take a loan Investing by taking a loan can never be a good decision.  As I said earlier, invest the amount you can afford to lose.  There is no question of borrowing in my words. If you don't have money, try to earn money as well as get ideas about investing and when you have enough money to invest, hire on a limited basis.

Well, this issue is widespread in a lot of investors specifically the greedy and beginners, they literally take high unnecessary risks for un guaranteed returns, that’s why they end struggling with debts and psychological problems. From my perspective, it is better to find multiple sources of income instead of taking loans , selling some precious goods and hard commodities. In fact, If you want to gain money, simply work hard and be productive, nothing comes easy. In addition to that, it is preferable to educate yourself before beginning in this field. Having only huge capital will not guarantee a large profit, knowledge and experience are necessary.

[justdimin]

I think that is true but we need to find a middle ground as well. If you think only about the risks and have no dream then you won't buy, why would you buy something you think that is risky and have no dreamy level of profit potential? But if you only think about the dream and not the risks at all, then you end up like this techie as well.

So you need to be aware of the risks, and aware of the potential profit at the same time, if you can do that then you would be able to actually make a profit from it as well, should be considered a good idea. I personally know the risks and I also end up dealing with whatever it can provide me as well, and that is why I invest what I can afford to lose. If I end up losing it all, I won't be poor, if I make profit, I will be happy. Those are the options for me.

I agree that you need to find the middle ground for sure. I do look at the villas and so forth around the city I live in. There is one for 128 million dollars, I know I will never be able to buy that ever in my life, and I do not really plan on getting that with a single trade by doing something stupid, no reason to do something like that at all.

However, I do know that I am going to work towards getting richer, so having a goal is important, I know that I would retire if I ever have 100k+ in my bank account because that's enough where I live, and that would be good enough to live until I die without ever needing a single dollar more, not even interest. But in order to reach the top of the tree, aim for the stars, if you fail, you will fall back on the tree.