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RE: A basic secret in investing and gambling
I was just having a conversation with a couple of coworkers about investment strategy. We are accountants but hold degrees in finance. One of my coworkers will only purchase blue chip stocks because he hates to lose. I on the other hand have a large portion of my investments in cryptos and pot stocks. I tell them I only need to hit it big once. Damn truth!
You are right about hitting it big but it will happen less often but a 1:2 or 1:3 risk reward ratio is not that hard to find especially in longer time frames but since you are into crypto a 1:1000 risk to reward ratio is possible.
Which in case of Bitcoin was 1:500000 and higher ☺️.If you had invested in bitcoin in 2010 you would have multiplied your wealth by 500000 times
Evaluate your crypto investments based on benefits to already existing technologies and incest small pots according to your risk appetite and wait .If you lose nothing changes(provided you risk money u can afford to lose )But if you win you win big ☺️.