Taking Intelligent Risks//Financial Status As a Major Criteria

For the first time I thought it's all about taking risks because almost everybody in the world is talking about taking risks and how those that don't take risk never get to achieve something meaningful with their lives. The whole thing got me obsessed about taking risks and also to forget about my losses since I am determined to achieve a financial goal through the risk taking perspectives.

I have spent so much money and continued spending without stopping even though I wasn't gaining profit from the money I am losing but just to paint my name among my friends as the "Not Giving Up kind of person" I continued spending.

It is true that it's a risk not to take a risk but I have come to realize that it is more riskier you don't take intelligent risks. Some of the things we do can end up crumbling us financially for a long time. I have faced this challenge but I will be a fool to make the same mistake twice. I remembered back then at some point I needed to sell some of my properties just to continue taking the so call risks my friends and I pushed ourselves into.

What is an Intelligent Risk..?

An intelligent risk simply means not taking foolish or uncalculated risk. I invest allot of my money into gambling and Ponzi schemes in the name of taking risk and at the end I had myself to blame because everything turned bad for me. It was uncalculative for me not to stop when I realize I was going extreme to make fund some projects that are not worth funding. It is good to take risk but it is wise to take calculated risks. Not every type of risk is meant to be taken. Taking a risk can either lift you up or push you below the state in which you are and we all know what that means. So far I have learnt not to borrow money to take risk or to carry all the money I have and dump it in an ocean for the sake of taking risk, it is riskier.

Since taking risk we are not assured of winning, it is important to have a good rethink about how to manage or survive your losts. One of the factor that makes one to take uncalculated risks most of the time lack of the knowledge to make calculations and have a draft out prediction of your possible losts. Intelligent Risk will never make you go totally broke because you will be aware of the possible dangers ahead of you.
I was supposed to start forest trading, I regard that as risk taking also but if I should venture into forest trading now, I am not taking an intelligent risk because it is unwise for me to venture into forest at this level I am. Since I know I will not excape losts in forest trading then I am supposed to be fully ready for it. I can start with the demo accounts and the lessons but at the state of my financial condition, I cannot start trading the market for now. This brings me to the point I regard as:

Your Financial Status As a Criteria in Taking Risks.

I will gladly say there are major risks and there are minor risks. This two types of risks complements your financial condition or status. Financial status is knowing how much you spend and how much you are able to accumulate for yourself per time.

If you can make just a fifty dollar a month, it's preferable to take minor risks or even none for at the moment, you can accumulate your income and make have something tangeable to rely on when the negative side of taking risks makes hold of you. If I should take a major risks, I should be earning upto a hundred or hundred and fifty dollars a week. Most of the risk-taking systems, requires spending money to get more money so it's very good that one should get ready for all of this.

The state of mind of people is different, I am sure we have people that with their last dollar, they will still want to take a risk with it, I realize that the bigger the amount of money you risk, the bigger the amount you gain and the smaller the amount you risk, the smaller the amount you gain, this is a formula that I have noticed so far in this finance ecosystem which has been working as so. We have people also that wants to break the formula by trying to use the little the have to get it big at once, all I can say it's the game turns more riskier to achieve a winning and sometimes it is worth trying but most times it is not. Our financial status is a tool for us to determined what type of risks we should take so that we can take intelligent risks and not the other way round.