Someone shared a story: they cashed out 250,000 from some of the profits in their account and set it aside specifically for living expenses, without touching leverage.
The reasoning is simple: when the market is going well, people mistake a good run for the norm. They think the good times will last, so they leave all their money on the exchange, only putting more in and never withdrawing any. Then, when the market turns, they’re making less than a tenth of what they did back then, and the pressure hits immediately.
He said he didn’t understand the need to “respect money” until he was 32. Now he makes himself set aside a sum to get through the hard times first, before thinking about strategies and market insight.
I agree: you can take a gamble with your position, but not with your living expenses.
$BTC $ETH
The reasoning is simple: when the market is going well, people mistake a good run for the norm. They think the good times will last, so they leave all their money on the exchange, only putting more in and never withdrawing any. Then, when the market turns, they’re making less than a tenth of what they did back then, and the pressure hits immediately.
He said he didn’t understand the need to “respect money” until he was 32. Now he makes himself set aside a sum to get through the hard times first, before thinking about strategies and market insight.
I agree: you can take a gamble with your position, but not with your living expenses.
$BTC $ETH