Sometimes you have to roll the dice

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In crypto, just like life in general, sometimes, you just have to roll the dice and take chances without knowing what will come out. However, in everything, ensure you mitigate the amount of risk by being calculated.

Someone once said that the biggest risk in life is not taking risks. Someone else also said that as long as you're living life and trying to be productive, then you're taking risks.

Risk it till you make it

I'm far from where I want to be in terms of my crypto investment portfolio and investment activities. However, in my own little way, I always ensure that I'm taking some sort of risk every day.

For what it's worth, investing is a risk and that's the kind of risk I always encourage people to take. I can't make promises that it'll be profitable but I can assure you that you'll feel the rush that comes from trying.

The crypto market is probably the riskiest of all investment portals in the world today. In most cases, you're going to find yourself putting your resources in the coffers of anonymous entities that promise all sorts of rewards.

In everything though, always ensure you do due diligence and never take anybody's word for it. Always do your own research to ensure that this is something you're comfortable with.

Taking risks can be fun

In my crypto journey, I've taken quite a lot of risks and some of them have paid off, while others went completely down the toilet. For example, I remember investing some Ethereum into a Video content creation platform that promised to be the best thing since sliced bread but that went to shit.

In that same period, I also invested in Splinterlands by buying like 40-50 untamed packs. That is still one of the best decisions I've ever made in my life.

In both situations though, one thing I know is that I actually had fun while doing it. I guess that's the thing about the crypto industry in general, nothing seems so serious.

The crypto industry brings down all the barriers that would have normally been in the way. This enables anyone in any part of the world to put resources behind any project that they like.

Other than investing in projects, I also invest in cryptocurrencies on Exchanges. On some occasions, like the shitcoin experiment, I bought random assets. In other cases, like how I've held on to my AVA all these months, I did enough research to make the decision.

In everything though, I had fun while doing it and nobody can tell you for sure if things will go good or bad for you. You just have to take a chance with the resources at your disposal.

Always have a strategy

I'm not going to lie to you, due to the fact that I don't have any official training in investment, economics, or finance, I feel like an impostor sometimes. However, I try not to dwell on that thought too much and just focus on myself, rather than the general concepts behind investing.

Virtually everything I know about crypto, growing, and taking risks was learned on the fly. This includes the strategies and routes I take in my dealings.

What you need to understand is that there's no correct answer, there's just your answer. There's no universal truth, there's just your truth and that's what works for you.

I'm a lot more confident in my investment activities than I used to be. Nowadays, I always like try out different approaches to sorting out one problem because that's just the kind of person I am.

For example, in my splinterlands activities, I always try out different approaches to get ahead in the game. Sometimes I put a monster on the market and sell it for a few hundred dollars and take the profit. Someone else lists that same monster for a couple of thousand dollars and it doesn't bother me because my truth is that I made a profit.

Recently, I've been selling vouchers and buying packs directly from the market. I know they don't count towards the presale promo card but it's a risk I'm willing to take. I already have 20 promo packs and now, I have 25 more ordinary packs.

I'm trying to roll the dice by having more packs, rather than compete for something that I wasn't going to get anyway because I get only one voucher per day.

So instead, I prioritised the potential of finding some gems in the packs and also getting more SPS points over Dr. Bright. Will it be a foolish decision or not? Only time will tell.

The point is that as long as you're well informed, develop a strategy and make decisions based on your own circumstance, you can't go wrong. I mean, you could win or lose sometimes but as the words of a song go, "it's better to feel pain than to feel nothing at all".


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16 comments
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I liked the "make decisions under your own circumstances" part. You fit turn motivational speaker like this

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I need like 50 motivational speakers to dey whine me small first

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In the Metaverse, you will be able to create 50 avatar motivational speakers and send them all out simultaneously to do seminars.

Think of all that you can touch. 😁

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Some risk is good, but i find it always best to back up the risks with safe guards, like buying the packs might be useful but as well in the coming months they will add appoints for more in the sps airdrops :)
Plan for failure and enjoy the successes :)

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Yeah totally. Always good to be prepared for any occurrence.

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No risk is good but no risk no reward. Investment risk is the best. Believe in your strategy and stick with it. Manage your risk because too much risk is also deadly

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Lately focus on Hive alone is like
a job. So much can be done and slowly I see
where value will really grow from within.
Every passing day your experience dictates
your move.

!BEER

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I agree with you. With each passing day there is less need to look outside of Hive for opportunities. There are enough springing up on here.

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I like your spirit bro.
fire on Chief

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Sometimes is good to take risk because the world is all about risk. The air we are breathing is just a risk. I can't imagine taking risk to invest more crypto currency and trading forex. I believe, a risky man survive.

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I like the idea of informed risks... by all means roll the dice, but have a full and clear understanding of the pluses and minuses attached to rolling those dice. If you don't understand what you're getting into, it's a good bet you shouldn't be there... and I think that's where a lot of people get in trouble.

And, as you said, always have a plan!

=^..^=

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In today's climate, it's actually riskier to not be taking any risk.

Especially for young people.

You're doing the right thing.

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Definitely something I needed to hear as I struggle to let go of the concept of fiat as "real money" and crypto as "fun way to get more fiat".

My stocks/crypto experience has been very similar to yours, it seems - some gambling, some genuine research, a lot of common sense and on-the-fly learning. Impostor syndrome is strong!

Actually, to be honest? I sometimes look at my friends who do things "the right way" and I hear horror stories of thousands of dollars down the drain, huge fees or gleeful gloats of 1.5% interest rates.
Whereas I think my only losses are in the 2-digit range and I moan at profits if they don't get to triple digits.

One trick I've been using (not sound financial advice, but it does work if you believe in what you bought!) is that if I bought an asset and I'm losing money on it, that means I haven't averaged down enough :) Somehow these "money pits" have always come out green for me sooner or later. Maybe I'm really lucky. Either way, stubborn ape strategy works so far.

Thanks bro!

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Hey bro, yeah that impostor syndrome is something I struggle with, especially when people ask me for financial advice. They don't believe me when I say I'm clueless and mostly just winging it because of how things tend to work out in the long run.

Sometimes I feel like I'm the one that needs financial advice or at least if someone could tell me what I'm doing, so I can just repeat it.

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