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RE: The 1% Rule

in LeoFinance4 years ago

We are likely all guilty of breaking this rule.

SSSHHHHHHHH
;)

The self-explanatory 1% rule: don't spend more than 1% of your net worth on a new investment, no matter how exciting or profitable it may seem.

I've taken this rule a bit further. On the exchange, I have all the funds I want on there. I am a miner, so my mining funds fund my trading.
My 3comma's bot will only make trades that are an amount of 1% of my exchange balance.
So if on the exchange you had $2000, each trade is only $20. It's set to DCA as well, but only so far down.

But I totally agree and encourage everyone to adhere to the 1% rule for investing. It's so easy to want more because I am sure there are a lot of us who could use that kind of financial break. The only way to get rich quickly is to be rich. You sound like you have a LOT of experience in this if you were buying and investing since 2018. I wish I would have picked it up back then like I have now.
Hindsight is always 20/20. hahahah

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