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Now when we talk about taking risks in life that is something easy compared to how risky crypto can be for one person
I remember those days when risks made me my first four figures that too when I was a beginner and now things have been a lot different ever since
Consequences of taking Risks without knowing outcome
Back then when I was new in crypto and had little knowledge about trading and everything related to crypto
The things I tried I only read once or twice and than proceed to go in
That time I was involved in defi and was buying shit coins like people are doing now on Solana, I used to flip $5 into 10 and 10 into 20 like instantly selling those for the 2x.
Securing those little profits and consistently growing up portfolio
At some point I went from $5 to a thousand dollars later that stage I became confident and started taking bigger risks and swings
Little did I knew that'll have consequences and lost all of it in no time, took months to hit four figures but later lost that in few days
Taught me everything I needed to know about the risks and possible outcomes.
Now taking bigger Risks Without Fear
After all these years now whenever I have to take a bigger risk I don't flinch anymore or feel nervous like most people do
I have learned that risks should be calculated like there's no such thing as high risk when you're making calculated moves
The most recent example is that James Wyn guy who lost $100 million, could've walked away with that kind of amount if only he took calculated risks.
But anyways I still get liquidated, stop gets hit every once in a while but at least I know what I was doing in the process like those are degen moves, hit or miss.
We mostly take high risks
Just because we are too consumed with the way we live, tired of living paycheck to paycheck and than a bigger risk gives you illusion that you'll have a better life in one day
Instantly rich life because you had the balls to take bigger risk but that's not true
It takes consistency to change that around and I've seen that years ago.. been trying to find that consistency again but it's just not there like I was good at defi flipping those coins used to be easy compared to going long and short against the market
So many competitors with the same goal of making money and changing life around, only the calm ones are here to survive rest of us will drown in emotions and loose everything slowly.
Wrapping Up...
In the end if only it was the high risk that could change life than all of us would've been living an easy life
It's not the risk we take but the timing, consistency and a plan that helps you get there.
I'm paying more attention to smaller risks at the moment than going all in cause I don't want to repeat same mistake where I lost everything because of bigger risk might give me bigger profit.
That whole idea is wrong and I believe you guys will agree with it. Do share what's your thoughts about it in the comments.