About LossToProfits.com
LossToProfits.com is a Crypto Blog discussing Cryptocurrencies Investing, Crypto Gaming, NFT trading, and the latest Crypto News and Crimes.
It is Max Yeo's (Me) Crypto Journey that started in 2021, inspired by Beeple's $69M NFT sale. More on that in this blog post: Why I started Cryptocurrencies Investing
Why did I name it Loss To Profits?
Simply because every investment starts at a Loss - A Loss of Control and Liquidity of your money, funds or some called it dry powder.
The Art of Losing
Just like before we can fly, we need to know how to land. We need to master the art of losing before the loss, during the loss, and after the loss.
Before the loss, one must be prepared that he or she might lose the whole investment, the possibility of loss is always there no matter how nice or lucrative an opportunity is - just like how i lost all my money in FTX - i don't lose all my money on FTX.
During the loss, one must decide to cut the loss or to "diamond hands" HODL it. We only gain money or lose money when we sell. Dollar-Cost Averaging (DCA) Buys for long terms at the lower ends is a good strategy, but you have to endure the short terms losses or the lack of foresight too.
After the loss, what to do when we lose? There are always the next opportunities around, but do we still have the money (dry powder) to place another "bet"? And what did we gain from the loss? I called it "We'll CSI tt". Check on the video below.
Losing is painful, be it our own lacking, falling to a scam or hack, we need to control our emotions, and decide the next step logically and strategically. Note: Most humans are emotionally driven creatures. Being composed in the face of adversity is what we must learn in life, or learn to use our emotions to empower us, not break us.
RISK!
Are you one who will risk it all? Throw caution to the wind? Or are you someone who plays it safe and boring? Risk is subjective, everyone's skills and desires are different. Put a lousy swimmer like me in the pool, and there might be a drowning incident, while an expert has no problem swimming across the ocean.
We may even think that skyscraper climbers are stupid to risk the entirety of their life for that one photo or video, but secretly we admire their guts and their skills. Not to mention the legal consequences of it as you clearly showed to the world you have "been there, done that".
To them and the extreme sportsmen and sportswomen, the adrenaline rush, the feeling of being truly alive, and the passion of that moment are all worth it.
So how big and how far do you want to go? And how willing are you?
Disclaimer
Whatever is stated or mentioned in this blog may sound like financial advice, but we are not legally accountable - i am not a Financial Adviser or Professional. All the Crypto Content in this blog is based on my own Experience and Opinions.
Cryptocurrencies Investing, Crypto-Gaming, and NFTs Collections are of High-Reward and High-Risk Nature. Only Invest What You Can Afford to Lose Totally.
Scammers are Everywhere, High-End, Good-Looking, Movie-Standard Heist (RugPull) is very possible. When Things Look too Good to be True, Always Do Your Own Research (DYOR).
Only We, Ourselves, are Responsible for Our Own Wealth.
