What is "smart risk taking" in the context of financial investment.

[Kross]

People that would be wealthy are great risk takers. That implies they don't just take risks but they stay on taking risks that are very smart.

So how do you define the scope of smart risk taking within the context of financial investments?

 

[Fidelia]

When it comes to to smart risk taking, it means that the risks are well calculated and measured before the investment decision is made.

 

[kit_hung]

A person who wants to get rich should be brave enough to take action. But not just any action, but stupid ones.

A stupid action is like choosing to climb a mountain using a ladder. You can't jump without being sure of a safe landing. First, seek in-depth knowledge about your investment.

Also, start small and don't go into debt for something you don't know. Try small experiments and see how they work. A brave hunter never stops hunting.

Remember that a good investment is like a seed. A honey seller never stops getting stung by bees. Set a solid plan and know how much your maximum loss is. Even if a loss comes, you won't be able to completely run out of food on the table.