You don’t have to be right all the time to be rich.

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During a recent conversation, I emphasized the importance of safeguarding oneself against financial ruin as an investor. However, it's important to remember that in life, we don't always make the best decisions. This applies not only to finance but to everyday life and business decisions as well. It's worth noting that sometimes one significant change can compensate for a series of missteps and poor choices.

Believing in one's self is crucial, but it's not always enough to succeed. Some companies have failed not because their ideas were bad, but because they couldn't make the necessary changes to keep up with the market. It's important to keep trying and not give up too easily. Investors can also face this challenge when they make repeated bad decisions. It takes just one right decision to turn everything around.

I have similar story investing in cryptocurrency

In 2020, I experimented with various projects to make money. Unfortunately, my strategy of investing in low market cap coins with hopes of making huge profits during the bull market didn't always work out. Some of these projects go to zero and underperform even in favorable market conditions. However, amidst several bad decisions, I made two good ones that transformed my investment journey - investing in Ethereum and Hive. These two projects proved to be game-changers for me. I learned that success isn't about always being right, but sometimes making that one wise decision that can cover all your losses.

Most people don’t talk about bad decisions, most people don’t also care about this decision

Warren Buffett is one of our role models due to his exceptional investing skills. Despite investing for over 78 years, he has made some poor investment choices, but he has developed a survival mechanism to counter these bad decisions. It is interesting to note that while people tend to focus only on the success stories of investors like him, they often overlook the fact that bad choices are an inevitable part of investment. It's important to remember that you don't have to be right all the time to be successful.

We have so many companies and investors who had a humble beginning, but they did not give up. They keep trying, and their story always changes when they make the right decisions and sometimes that is what matters. You might be a good investor, but you don't get everything also might be an excellent company, but you might not get it right initially, you just need that one big change to turn everything around which is very crucial in our growth, but the most important part of them all is that to be long enough in business and also in investing we must develop how we will survive and stay wealthy because even if our bad decisions are more than our good decisions, we must be able to counter the bad decisions with the few good decisions we make.

70% is enough sometimes

If you're familiar with those who trade at Forest Market, you'll notice that they prioritize money management above all else. if you put their trade on averages you will that is not even up to 70% most of the time and they still turn a profit because they understand the importance of managing their funds. This principle applies to our daily lives as well. As an investor, not every investment will yield returns, but the key is to focus on the ones that do. When you make smart decisions, your profits will outweigh any losses, leading to financial success. Despite making incorrect decisions you can still manage to make a fortune due to this philosophy.

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Thanks for your time.

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