Gérer son capital comme un pro

Hello and welcome to this training video. We are going to talk about risk management and how to manage your risk like a pro and avoid mistakes that will simply ruin you, because yes, the risk of ruin exists, and it should not be neglected. So yes, I think if you are watching this training, there is a very high chance that the crypto market is doing well, that many people are talking about it, that everything is going up, everything is in the green, or that Bitcoin is rising, that we might talk about it on TV, or that friends have told you about it, and therefore you wish to invest or trade this market and make a profit. I will give you tips and tricks, and especially mistakes to avoid so as not to ruin yourself, and so that you can indeed make profits and secure your profits. So this is precisely the goal of this training video. I will not go into great depth; the goal is not to make you pro traders in this training video. For most of you, I think you will be beginners, and you will be starting out. So it's really about explaining the basics to you so that you can start with very solid foundations and understand the concept of risk management, of managing your risk, of knowing in advance what we are willing to win and what we are willing to lose, and not exposing ourselves to total loss of our capital. Okay, so I think I have introduced this course well, so we can start.

First of all, what is risk management? Well, risk management, if I had to define it, is quite simple. It's very simply risking something to be able to gain something. So that's what we call risk and reward. For example, if tomorrow I invest in apples, the risk is that I buy these apples too expensively and that I cannot sell them, quite simply. Or the risk is that I have no customers, that these apples rot, etc. So I take a risk, I buy apples in the hope of reselling them to make what is called a capital gain or a return, a return on investment. So we will always talk about risk and reward. In English, we can call it risk-reward, risk-reward, we will call it many things, but there is no gain without taking a risk. And so there is automatically a correlation, or not, but generally yes, between risk and gain. You have to favor, it depends on your trading style, but as a beginner, low risk for a good return. You must not go for super high risks hoping to get a high return, because statistically it can work. So when it works, it makes you a lot of money, but statistically it fails much more than the failure rate, the failure rate which is much more important than the success rate. Let me explain. Someone tells me, "Listen, I have a good investment, the risk." So, let's say you have 10,000 euros in capital. I will tell you to invest 8,000. The risk is that you lose your 8,000 euros, and the potential gain is that you win 80,000 euros. Is this a very interesting risk-reward for you? For me, no. Why? Because in a single trade, in a single decision, I can lose 80% of what I hold. That's too much. Okay, so already from that point of view, risk, we will always try to reduce it as much as possible. Why? Because risk will generate psychological behaviors: stress, anxiety, fear. The fear of not succeeding, the fear of not knowing how to take profits, of no longer controlling your trade, because yes, sometimes when you take big risks, the trade goes well, strangely, and you don't know how to understand your profits, and the market turns around, and you don't see it coming, and you end up in loss or break-even. So break-even, what does that mean? It means no profit, no loss. Basically, I invested 1,000 euros, it went up to 4,000 euros in gains, waiting. So these are not real gains. I potentially had 4,000 euros in gains, and the market goes down, and I go back to zero euros in gains, zero euros in loss, and I close my position, and in the end, I haven't gained anything. So all these are important concepts to understand. Okay, how much am I willing to risk for how much am I willing to gain? Total loss in this market is possible. I will show you here with Algo, for example. Someone who invested in Algo, and I don't even want to go to the very top. Someone, for example, who invested in Algo at the wrong time in May 2022 is currently suffering a loss of 84%. So you might say, "Yes, but the market has fallen 80% since its highs, it can go up, it can't fall further, etc., we've already fallen a lot, etc." Well, yes, it can still fall, because here you see, I took it from May, but we are already on a decline since May 2022, so a little over a year, of 82%, and since the highs, we are on a drop here of 96%. This is to tell you that someone who invested 1,000 euros at the very top has currently lost 960 euros, and someone who invested 1,000 euros much lower in May 2022, for example, has also lost 850 euros here. So between the two, there isn't a huge difference between having lost 850 euros and 960 euros. Well, it's better to lose, between quotes, 850 euros than 960 euros, but what I mean is that the difference in purchase is different. One bought here, one bought at the very top, and yet the difference in loss is not really huge. Okay, this is also to be taken into account. Yes, you can lose the entirety of your capital.

And here I have put a small graph that shows you, depending on the losses, the gain you must make. So here, for example, the person who bought Algo here in May 2022 and suffers a loss of about 85%, Algo must rise by 566%, so make an X 6.6, which is enormous, for this person to return to what is called break-even. So break-even, what is it? As I said, it's zero loss, zero gain. It's returning to the initial stake. So, basically, if I invested 1,000 euros here, Algo must rise by 566% for me to get back to my 1,000 euros, but I haven't gained anything at all. And yet, the asset has made X 6. And this is a risk that exists a lot in the crypto market, which is cyclical. The crypto market can perform, and here Algo, for example, has made +2600%, but it has also lost 96%, and this risk exists in the crypto market, and you must take it into account. So if you buy anything, or you do "all-in", you buy something, you say, "Okay, the prices are good," or "Everyone is talking about it," or "I'm going to buy this and go all-in," well, you can lose the entirety of your capital, since here I showed you Algo lost 96%. And for example, if I take Algo since November 2022, it seems like there isn't a big loss, but look, we are still at 75% loss. 75% loss, Algo must now rise by 300% for the person to return to break-even, so to have 0 gain, 0 loss. So for every trade you take, or for every investment you take, there is, you don't know it when you start, but there is always this notion of risk and reward. Is the risk worth the reward? Or especially, is the reward worth the risk? Okay, tomorrow, if I have to risk my capital to earn 10%, we agree that it's not interesting. And even if I have to risk all my capital to earn 1000%, it's not necessarily interesting, because if in a single action I lose all my capital, I lose all my money, I can no longer invest. And this is what we avoid. Trading is really a long marathon, and the objective is to go far, serenely and slowly. It's not by doing things quickly that it will absolutely work. Okay, so what you do is, when you decide to invest, or you have already decided to invest, or you say, "Okay, I'm going to put, for example, 2,000 euros in cryptocurrency," you don't just take these 2,000 euros and buy anything and everything and say, "It's good, it will increase in value." No. You take it, you are aware that there is also a risk. These 2,000 euros, I will always recommend, for example, you look at your net worth, how much is it? So, for example, you have a little real estate, or you have income, you have a good salary, you have an average salary, it doesn't matter, we don't care. But you take the net worth you have, the total money of everything you have, so cash, assets, etc., and you do this x 0.10, okay? And you take this money and invest it in cryptocurrencies. So, for example, if I have a house, okay, it doesn't matter if it's bought with credit, etc., we don't care, if the credit is soon paid off, etc., we don't care. I have a house, I have an apartment that I rent out or not, or I have stocks, I have investments, I have dividends, etc. We take all of this. I have gold, it doesn't matter. You take everything you have, that will give you your net worth, which I will call P here for net worth. Let's imagine this net worth is 27,000 euros. Here, really, if you have a house, I know it will be much more, but I'm giving you an idea. You have a total net worth of 27,000 euros, for example, okay? So, for example, you don't have a house, you have nothing at all, you just have money set aside, a few small investments here and there, etc. Of course, we don't take the car. We really take assets that appreciate over time. We don't take, for example, your car to put it in your net worth. You could, because it's true that there are cars that increase in value, etc., but here, specifically for tangible assets that can be sold, that can increase in value, that cannot fall by 80%. Similarly, tomorrow, if you tell me I have an investment in something that can lose 90% of its value overnight, you shouldn't necessarily include it in your net worth. We will really take what is tangible and what can be sold with a value that can increase or decrease, but very slightly. We can always have a value for the thing. For example, imagine a watch, okay, it can gain 100%, it can lose 50%, okay, but let's say it has a value, it's a market value, you can still resell it easily with a profit or a small loss if you bought it in a store, for example. There will be much less chance that it will devalue and that you will suffer a big loss. Okay, buying on the second-hand market is more complicated, you can suffer losses, etc., because it's more significant, and we can also include that in the net worth. But basically, you say, "Okay, what do I have that is liquid that I can sell in case of..." well, not in case of, but of what can be liquidated, what can therefore be transformed into cash, okay? For example, you have a net worth of 27,000 euros, well, you do 27,000 and you multiply it by 0.1, okay? So I'll do it with you, but quite simply, it will give you 2,700 on the calculator. Well, you won't see it on my screen, but I'll do it. So, 27,000 x 0.1 = 2,700. So this is what you can invest in cryptocurrencies, 10% of what you hold, okay? Because if tomorrow I have a capital, I have a net worth of 27,000 euros, and I go crazy and put 20,000 euros in crypto, the risk of total loss exists, okay? And if I lose everything, well, I lose 80-90% of my net worth, and that's not what we want. Okay, so here, for example, if you had 25,000 euros in net worth and you sent 10,000 euros in crypto, personally, I estimate that the risk is too great given the net worth you have, and it would be better to be more reasonable and why not perhaps go to, I think I said 2,500, well, go to 2,500, quite simply. We can push up to 15% if you want, but really for me, beyond 15%, we start to have a significant exposure to the crypto market. Tomorrow, if I lose 15% of my net worth, it won't prevent me from living, because there is 85% left. On the other hand, if I lose 80% of my net worth, I will be unhappy, and yes, it could prevent me from living. Losing 80% of one's money in total is indeed a lot of money. Okay, so always, we never forget this notion of risk-reward, and especially the overall risk. Is my investment disproportionate or not? It could be disproportionate, or it could not be. I really recommend between 10 and 15%, okay, maximum, maximum 15% of your net worth in crypto investment. If you lose 15%, it's not a big deal. Okay, so this is the first concept.

Now we are going to talk about Stop Loss concepts. Okay, what is a, what is a, sorry, what is a stop loss? To put it very simply, a stop loss is something that will stop a loss. So, for example, you need to know that tomorrow, if I invest my 2,000 euros in, for example, Algo, let's take Algo. You need to know, for example, if I have 2,000 euros in net worth and I go all-in, and I have invested, I decide to invest 2,000 euros in Algo. So, I have 250,000 euros in net worth and I decide to invest 2,000 euros in Algo. So I will have 10% of my net worth in Algo. If Algo goes to 0, I will lose my 10% of net worth and I will lose my 2,000 euros. You will tell me, "Yes, but as long as we don't sell, we don't lose." Yes, that's true, it's a pending loss. It can very well drop by 90% and go back up, there's no problem, okay? That's plausible, it can happen, okay? But we will assume that the money that is invested is risky money. I risked, I invested 2,000 euros, so I have a current risk of 2,000 euros. If Algo goes to zero and dies, well, yes, there is a potential risk of losing 2,000 euros. What can happen sometimes is, for example, I'm not saying it will happen, I took Algo to give you an idea, to show you the cyclicality of the crypto market, which is very aggressive, very volatile, but also very bearish. That's why there's a lot of money to be made, but there's also a lot of money to be lost. That's why you need to understand this notion of risk-reward, risk-reward. But to get back to what I was saying, we invest 2,000 euros in Algo, well, my engaged risk is 2,000 euros. I can reduce this engaged risk with what is called a stop loss. For example, I can tell an exchange, so here, for example, on Bitget, "Listen, I'm buying 2 Algo for 2,000 euros, but I'm willing to accept a drop of Algo, for example, by 20%. If Algo drops by 20%, then I secure my investment and I'm willing to lose a maximum of 20%." To gain, for example, and here I will show you the tool on TradingView of risk-reward. So I will risk, for example, so I buy my 2,000 euros here. I want to risk a maximum of 20% of my 2,000 euros. So here I have to put a stop loss at 20% of my purchase price. So, in this case, it would be a purchase around here at 0.1054. I will be very precise at the market price if we decided to buy now. And then, if I put a stop at 20%, I will accept Algo. If Algo drops to 0.0838, then I exit the position and I take my 20% loss. 20% of 2,000 euros is 400 euros. So I would be willing to lose 400 euros on this investment. And the reward, for example, is to say, "Okay, I think Algo has a future. I think 10 cents for Algo is undervalued. I plan to sell it at 30 cents." Your risk-reward is: I am willing to invest 2,000 euros, I am willing to risk 20%, and I am willing to gain 186% on this position. So I will note it. My risk, so the stake, is what is called the initial stake, it's 2,000 euros, okay? My risk is 20% variation, or 20% of 2,000 euros, which makes 400 euros of risk. So I am willing to lose 400 euros, and I am willing to gain here approximately 186% of my 2,000 euros. So here you calculate, but roughly, you do 2,000 x 2.86. I'll do it with you. So 2,000 x 2.86 = 5,720. So I am willing to gain 5,720 euros and I am willing to lose 400 euros. And here, this gives you a risk-reward of 9.13. I am willing to risk 1 to gain 9.13, okay? So here, quite naturally, if you take your little calculator, you do the 400 euros of risk and you multiply it by the potential return, or if you go for 9.13. So here you take roughly your sales, 10% of 2,000 euros is 200 euros, okay? 20% of 2,000 euros is 400 euros. We estimate here that if there is a drop of 20%, then you are willing to lose here, how would I say it, your 20% here, so your 400 euros, and you are willing to gain. No, I'll recap so that you can really understand the final result. And we are willing to gain 186%. This will make a gain here, so if I do 400 x 9.13, it will give 3,652, okay? So I take here my 2,000 euros, so basically, and 2,000 euros, I add to that my gain here, 3,652 euros. I'll get the calculator here to give you the result. Well, we could do it mentally, but here we will use the calculator. It's 5,652 euros. You will tell me, "Sardou, the difference, we noted 5,720 euros at the end of what I would recover." Yes, because there is what you will recover, and there is the net profit, that is to say, basically, I invested 2,000, you recover your 2,000 euros plus the capital gain which is 3,652 euros, which makes 5,652. Why do we have 5,720 here? Because I based it on 186% here, but it's 186.32. So the risk-reward here is based on 186.32, etc. So there is a slight discrepancy because I wasn't precise to the decimal, but if I did it, we can do it, there's no problem. Towards 186.32% of 2,000 euros, you will see that it falls back to 5,000 here, 5,652 euros, okay? Because I did x 2.86, but it would be slightly more, okay? And because here too, the mistake I made, or rather, it wouldn't be more, because the mistake I made here is not exactly 20%, it's 20.42% if I'm really precise. I'm going to zoom in, zoom in, zoom in to be precise. You have to do it, I'm just giving an example here, but to be as precise as possible, I'm going to zoom in again, don't worry, we'll be as precise as possible. TradingView doesn't allow me to do that. Well, it will be 20.04, unfortunately. You see that it makes 9.3, so it's a little bit changed, the risk-reward. So simply, if I do here 400 x 9.3, it will give you the correct figure directly, okay? So 400 x 9.3 will give you here 3,720. So we are indeed at 5,720. You see, it's just that I was a little less precise, quite simply. But when you are precise, it does make 3,720 plus my 2,000 euros, which makes indeed 5,720 euros, which we found here. So to summarize, I am willing to risk 400 euros in loss to have a net profit of 3,720 euros. Is this a good investment? Technically, yes, on paper, it's a very good investment. Does that mean this investment will be successful? Not necessarily, okay? So this is more for investment, okay? This will be for investment. For trading, for example, high-frequency trading, which I call high-frequency, not necessarily true high-frequency trading like 10 trades a day, it's a few trades here and there, so trying to capture movements. I will always recommend 5% maximum of the risk of your capital. I'm not talking about net worth, I'm talking about capital. So, for example, if you have 2,000 euros in crypto and you don't want to invest, but you want to trade, so try to make profits, not investments, so several trades per week, etc. You will always take 5% of 2,000 euros maximum, and this is what you will be willing to risk, okay? So 2,000 euros, I take 0.05% here. So here I do 2,000 x 0.05 = 100. So here my maximum risk will be 100 euros. And so you will tell me here, how do I calculate my risk? How do I know how much to buy, etc., etc.? I will show you a formula that is very, very, very simple, okay? So, imagine here, earlier I told you, if for example, you want to invest in a single cryptocurrency, so you invest your 2,000 euros and you want to risk a maximum of 20% and therefore gain 186%. Well, we saw the calculation. Here we will start from the principle that you want to risk only 5% of your crypto capital. So we started with a capital of 2,000 euros here. So here I will make a new table. My capital is 2,000 euros. I want to take this trade here, but risking only 5%, okay? So I want to risk 5% of my 2,000 euros on this same trade, which is 100 euros of risk. You will tell me, "Yes, but that's not possible because the stop loss is at 20%. How do we do it?" Well, I will give you the calculation method. It's possible, obviously. So you have to dissociate the initial stake and the risk. That's what I wrote here. The initial stake is 2,000 euros, but your initial risk was 400 euros. So we want an initial risk of 100 euros, meaning that if I buy Algo here, I'm going to delete it, oops. If I buy Algo currently and it drops like this, I want to lose 100 euros, I don't want to lose 400 euros like before. So I'm doing a formula that is very simple. We take the risk, so how much do you want to risk? 100 euros, okay? I do 100 and here I divide, so I do 100 divided by the number you see here, okay? So 20.04. We don't divide by 20.04, we add a comma, so it becomes 0.2004. And so here, you get out the calculator. So here we do 100 / 0.2004, which gives us 499. And so 499, what does it correspond to? Well, it corresponds to the amount you will have to buy. You will have to buy 500 euros of Algo. So my initial stake will be 499 euros, we can round it to 500 euros if we want, and my risk will be 100 euros. If Algo drops by 20%, I will lose 100 euros, okay? Quite simply, that's how you will calculate your risk, nothing more, nothing less. So here, if I buy for 500 euros, we agree that if we do 500 x 0.2, so 20% of the variation rate, if I lose 20% of my 500 euros, I do 500 x 0.2 = 100. So if I buy for 500 euros at the moment I'm speaking to you and the price drops by 20%, I will indeed lose my 100 euros. And these 100 euros represent indeed 5% of the capital which is 2,000 euros. And so, if I win, what do I win? Well, we take the same calculation again. Remember earlier, what did we do? We did 400, the risk, times the risk-reward ratio, so 9.3, which gave the net profit of 3,720, okay? So we take the risk and we multiply it by the risk-reward ratio. So the risk was 400 euros, remember, don't confuse initial stake and risk. My initial stake is the investment, the money I invest, but the risk is something else, okay? The risk is at the moment my position closes. So if I invest 2,000 euros and I don't have a stop loss, then my risk will also be 2,000 euros, because if it goes to zero, I will lose my 2,000 euros. I repeat, as long as I don't sell, I don't lose, but I will have up to a potential of 2,000 euros of latent loss if Algo disappears and dies, because yes, if it disappears, for example, it's enough for platforms to delist Algo, sometimes it happens, there are projects that die, developers no longer support the project, platforms remove them from their platform to add other tokens, so your project dies, you can no longer sell it, or simply, well, the thing disappears, it drops, it goes to zero because it happens when there are tokens that are delisted from all platforms, it goes to zero and it dies, in fact. And so you lose your 2,000 euros. On the other hand, if I have my stop loss, I will have lost only 20% of the 2,000, so 400 euros earlier. So here we will calculate the gain. So earlier we did 400, the risk, times the risk-reward ratio, so 9.3, which gave 3,720 euros, so that was the net profit. Well, here I simply take my initial risk, which is 100 euros this time, and I will multiply it by the same risk-reward ratio because here we have the same trade. So x 9.3. And so here, we will do it with the calculator, but we could do it mentally, because here with 100 it's easy, but I'll always do it with the steps because if your risk is 234 euros, then it becomes more complicated to calculate mentally, okay? I took round numbers so that even mentally we can do it, but I'll do it with the calculator anyway so that you can also do it on your side, so that you can see the results. So it's 930. So this is the net profit, 930 euros of net profit here that you will be able to obtain, plus the initial stake that you will put, which was 500 euros, as we did earlier, okay? But in any case, the net profit will be 930 euros. So I risk 100 euros to gain 930 euros. Is this an interesting trade? On paper, yes, it can be an interesting trade. Here again, I haven't given you a real trade idea, I've just simulated it with the current price and a 20% drop. There is no strategy behind this, it's just so that you can understand how I calculate my risk, okay? So this is the basis. I will not talk to you today about leverage, okay? What I will tell you about leverage is that as a beginner, you do not use it, okay? Why? Because leverage has a big trap behind it. After, if you use it, you do what you want, but I advise you not to use it. Why? The trap behind leverage is simple. Leverage will make you believe that you can earn more money, but if you can earn more, you can lose more. I agree that if I have 2,000 euros in capital and I trade 2,000 euros with a leverage of x10, I will therefore trade with 20,000 euros and therefore I will make more money if it goes up. Yes, but the gain multiplier is multiplied, the loss multiplier is also multiplied. If I can earn 10 times more money, I can also lose 10 times more, in any case, 10 times faster. Let me explain, because you cannot lose more money, you cannot be indebted. In fact, what will happen is that if, for example, you buy 2,000 euros of Algo with a leverage of x10, okay, you need to know that if the price drops by 10%, you lose your 2,000 euros, that's all. There's no need to look further. If it drops by 10%, you lose your 2,000 euros. If it goes up by 10%, you also gain 2,000 euros. There's no need for it to go up by 100% to gain 2,000 euros. It is true that if it goes up by 10%, you gain 2,000 euros, but again, you cannot multiply the gain without multiplying the loss. If you use leverage in this way, leverage is used exclusively to reduce your personal exposure. And I'll give you an example. Here, I'll give you, I gave you the example, sorry, to be able to take this trade, you need 500 euros because your capital is 2,000 euros and you want to risk 5%, so you want to risk 100 euros, but you needed 500 euros to risk your 100 euros. I'll give you another example, I think it will be much easier, okay? Imagine that this time your stop loss will be, you don't want to put it at 20% drop, but you want to put it at 10% drop. What will happen? Well, what will happen is that we will have to recalculate. So I have a capital of 2,000 euros. So here again, I will give you an example, and I will tell you when leverage can be used, and only in those cases. So I want to risk always my 5% of capital, okay? Which will make, so here, 100 euros, because again, 5% of 2,000 euros is 100 euros. So my small risk will be 100 euros. How much Algo should I buy? I should buy Algo for how many euros? Well, it's very simple. Remember the formula, we apply it again. I want to risk 100 euros. We take the variation of the drop here, so for example, if I have my trade, I say, "Okay, I'm buying here, I see that if the market drops to this level, then it invalidates my trade, the market will drop, so I no longer want to buy, for example," and then you put your stop loss here. So the variation is 9.97%. Well, here, remember, we do 100 / 0, and here we don't write 9.97 because it's not 9.97% but 99.7%. Okay, we add a 0. 9.97% in decimal is 0.0997. Don't make that mistake, okay? And so here equals. So here we take out the calculator. So here I'll do it without dividing by zero, you can do it too, because here I haven't allowed the recorder to record the calculator, there's only the TradingView screen, but you can do it with me live if you're watching it. And so here it's 1003. So here I need 1003 euros to take this trade, to risk my 100 euros. If I buy 1003 euros of Algo, if it drops by 9.97%, I will lose 100 euros. And so I risk 100 euros to gain how much? Remember, without dividing by the multiplier that is written here, 5.3, sorry, x 5.9. And so here again, we could calculate it mentally because here with 100 it's easy, but I'll always give you the process because if your risk is 234 euros, then it becomes more complicated to calculate mentally, okay? I took round numbers so that even mentally we can do it, but I'll do it with the calculator anyway so that you can also do it on your side, so that you can see the results. So it's 559. So here I risk 100 euros to potentially gain 559 euros in profit. And you will tell me.

To say yes, but how do I do it? Because yes, I admit, I have a crypto capital of 2000 euros, but I already have Bitcoin, I already have Ethereum, I already have a little bit of BGB, I already have a little bit, I don't know, of Solana, of Arbitrum, etc., and I don't have the 1000 euros to be able to enter. And how do I do it? It's at that moment that leverage comes in. Leverage will finance you. It's a bit like a mortgage. If tomorrow I have 300,000 euros in assets, but in cash, and I only have 25,000 euros, and I want to buy a house, I'll have to take out a loan. Well, in trading, it works the same way. And this is the only use of leverage. Leverage is not used to take on more risk; it's just used, for example, to use less personal money. Okay, imagine tomorrow I have assets, I have 10 million euros in cash, I want to buy 5 houses at 5 million euros. I either have the choice to buy them cash with my own money, and therefore I buy 5 million euros each, and so I have indeed bought for 5 million euros, or I can call on banks. Okay, I put down a 10% deposit because the bank sees that I have a lot of money, and therefore I'm not a risky client because I'm borrowing less money than I have. So the bank says, "This guy, 10% deposit, that's fine, even without a deposit, it could be fine." Because in any case, the guy is borrowing half the money he has, so he'll pay us back, no problem. But anyway, to get back to this example, I have 10 million euros, really, I'm talking about cash, not assets. I want to buy 5 million euros worth of houses. Instead of tying up my 5 million euros directly, what I can do is take out a bank loan, for example, over 20 years, and then every month I'll pay a little bit back. And that's what makes it so that I won't use my 5 million directly; I'll use a little bit of money every month. If, for example, I earn 300,000 euros per month, and behind that I have 30, I have 80,000 euros in credit, in the end, I've touched 0 of my personal cash. I only use 80,000 euros from the salary I have. I use 80,000 euros to pay for my house, or rather my houses. Okay, anyway, that was really to give you the idea of a bank loan. Well, it's a bit the same when you're going to do, when you're going to use leverage professionally. I'm telling you, this is the professional way to use it. Don't get caught and use it excessively, because you'll get burned. Then I'll give you examples of how to get burned. So, I told you, we need 1003 euros to make this trade, but I only have 400 euros available. So, let's say I only have 400 USDT available. Okay, I need 1003 USD. I shouldn't have talked about euros; I should have talked about USDT. But okay, we'll simulate that 1 euro is 1 USD, even if that's not the case. We'll simulate that it is the case. Okay, so we'll simulate that we've been talking in USD all along because I don't want to change houses to USD in my examples. But you understand where I'm going. So, I need 1003 USD. How do I do it? Well, it's very simple. What I'll do naturally is, if I only have 400 euros available, imagine, I'll use, for example, okay, I'll come and I'll do 1003. I'll divide that by 10, and then you'll see the result it gives you. So, dividing by 10 gives 100.3, so 100 euros and 30 cents, so 100.3 USD. Okay, to go back to the example, I'm writing USD. Well, I'll continue to write euros so as not to confuse you, but let's imagine it's USD now. So, what I'll do is I'll go to the platform. If I want to use leverage, I'll tell it, "Listen, I want to put 100.3 USD from my pocket, and you finance the rest." How do we do that? Well, you simply write 1003 USDT and select leverage x 10. In fact, what will happen is that from your pocket, it will put your 100.3, and the platform will finance the rest, so 90% of the rest. And in fact, it will allow you to use only 100.3 USDT. And is the risk increased? No. Why? Because I only put 100.3 USDT from my pocket. The platform lends me the rest. And if my stop loss is triggered, well, in any case, I'll lose the 100 euros that I wanted to lose, quite simply. I won't lose more. Okay? Because the initial stake will indeed be 1003 USD. That's the money we needed. We agree that we needed 1003 USD to trigger this trade, to risk 5%, which was 100 euros, remember? Okay, I only have 400 USD. How do I do it? Well, if I buy with 400 USDT, I won't have the 1003 USD I need to respect this risk. So, I'll have a risk, okay. But I absolutely want to risk 100 USDT here. Well, as I said, we do it. And I'll give you another example. We can do it in many ways. I can also do it this way. You can also do it, for example, if I don't want to use leverage x 10, if I want to use less leverage, I do 1003 / 5. So, we'll do here 1003 divided by 5, that will give you 200.6. Okay? And then you'll see, if you go to a platform and you write, "I want to buy Algo, for example, for 1003 USD with leverage x 5," well, it will take, it will take, sorry, 200.6 USD from your pocket, and the platform will lend you the rest. And if your stop loss is triggered, you'll lose exactly the same amount of money as if you had invested the 1003 USDT directly from your pocket. So, if you tell me, "We'll always use leverage, it's great, so we tie up less personal money." Yes, but what you shouldn't forget is that it's like a bank loan, so it will generate what are called interest, and that's what's called the funding rate. So, you'll pay interest every, for example, every 4 hours, every 8 hours, it depends on the platform you're trading on, but you'll pay interest every, and generally it's every 8 hours. Okay? Every 8 hours, you'll pay an interest rate, like in a bank loan. Okay? Except that here, since it's trading, the platforms know that these are shorter-term trades, but they won't give you super low rates; they are higher rates because, well, they are financing you, and they know that the trades don't last very long. So, in fact, it will cost more money, it will cost a bit more in fees. So, if, for example, your trade goes well, there's a chance that the profit will be a little less than if you had bought without leverage, because here you'll pay what's called the funding, the interest rates. Sometimes it happens that the platform gives you the interest rates. Okay? That happens when, for example, the interest rate is negative on the platform. For example, sometimes it happens that I'll go to, to go to a glass, I'll show you that right away. So, here we'll use, hop, we'll go to Bitget. Here, for example, on Coin, if you buy Coin with leverage, you won't pay interest, but it's the platform that will give you back interest. It will be 0.21% every 8 hours, for example. I'm not too sure about the time frame for the funding, but you pay it every X hours on Bitget. I'm not sure if it's 4, 6, or 8 hours. Personally, I never use leverage; I don't need it, but that's why I don't know. But if you look, you'll see. But basically, in this case, let's say it's every 8 hours, for example. Every 8 hours, you'll be given 0.21% of the position amount in terms of fees. Why? Because here the funding is negative. If I buy, if I long, so if I use leverage to buy, and the funding is negative, well, I'll be, I'll be compensated. If I buy and the funding is positive, so here, for example, on Store, the funding is positive, 0.01%. I'll pay, so 0.01% interest every 8 hours, for example. Okay? Well, this is on Heidi, it has changed, but basically, I'll pay that. Okay? Quite simply. If the funding is positive and I buy, I pay. If the funding is negative and I buy, I pay nothing, I'm given money. Okay? So, you'll have to check that at that time. But yes, it can generate fees, and that's why when I have the money, it's better to just buy on the spot without overthinking it, if I'm okay with tying up that much money. And so, the use of leverage like an idiot, sorry for the term, but I have to say it, is for example, I have 2000 euros in assets. Ah, well, I'll put leverage x 10 with 2000 bucks. Okay? So, we'll put that aside, we won't delete it, we'll put it aside. But the worst thing to do, the idiotic risk, as I'll call it, is: I have 2000 euros. Ah, but I think trading, no, I want to earn more, more. I want to put leverage x 10, so if it pumps, I make 10 times more money. Okay? So, we do leverage x 10, which means it will put 20,000 euros. So, you'll write 20,000, leverage x 10. So, it will tie up your 2000 euros. Okay, leverage x 10, so you'll trade with 20,000 euros. There will be 18,000 euros from the platform and 2000 euros from you to reach 20,000 euros. Except that what will happen is that this time, if it drops by 10%, you lose your 2000 euros. Your capital is liquidated. Goodbye. Thank you for participating in crypto trading. We'll see you in 10 years, or tomorrow if you put money back in, and you'll make the same mistake again and lose money. Sorry to say it in a humorous tone, but that's how it will happen. The goal, once again, is to master your risk well. That's why I'm explaining all this to you, the importance of risk-reward, etc., etc. Then I'll talk about win rate and the mistakes to avoid. So, it's really a course. In the end, I told myself, I'll do a complete course. The more I talked, the more I told myself, I have to go into detail to give them a complete course so they can really master risk management. Even if in the end you only make investments, you won't use everything I'm explaining. If one day you want to, you'll already have the basics. And even not the basics, you'll have 90% of the notion you need to have on risk management. Then I won't go into the very last details, everything that's always in, etc., in this course. This is really a course for beginners, but in the end, I realize that it's also a course for intermediate, or even very advanced. But anyway, it will be useful to you no matter what. So, I'm going back to the example. Yes, if it drops by 10%, you lose your 2000 euros. Goodbye. And leverage is not for that. Leverage is used, as I said, exclusively. We've done all our calculations, so we're smart. We've done our calculations. We want to risk how much, etc. Okay, I want to risk 5%. That's 100 euros. I need to buy X, I need to put my stop loss here to risk my 100 euros. And so, well, I don't have the necessary money, I'm missing 200 euros. Well, then I can use a little leverage, as we saw earlier. For example, if we need it, and the risk won't change. We'll still risk our 100 euros. On the other hand, again, I said it, if you put your 2000 euros with leverage x 10, and it drops by 10%, you lose your 2000 euros. Yes, if it goes up by 10%, so if the price just makes a little nudge like that of 10%, yes, you earn 2000 euros. But the price can also very well drop by 10% and you lose your 2000 euros. So, the risk-reward here is clearly not interesting on a single trade. The risk of losing all your capital, especially on a 10% variation, remember I told you that the crypto market is very volatile, it's even crazier to think, yes, well, on a 10% variation, I can lose everything. Because again, look, we'll do something very simple. I'll go to a daily candle. So, that means that on the graph, what you see, a candle, a green bar, a red bar, a green bar, a red bar, is a trading day. So, here, for example, on the day, here, so, look closely at my mouse, so, look closely here, on the day of June 23, 2023, Algo went up by 11%, and then the next day we had a drop. No, let's say, let's be really precise, let's go three days later, June 26, three days later, we had a drop in Algo of 8%. So, in the space of three days, there was a rise of 10% and a drop of 8%. Okay? Well, we can say in three or four days, okay, that's huge. So, you're in a market that is very volatile, and Algo, since June 2023, so it's not even a month, it has already lost 25%, and at its lowest, it lost up to 27%. Just like from June 10 to June 25, it gained 55%. So, these are very volatile markets. To give you an idea, the S&P 500, the largest American index, since its low in October 2022, has risen by 28%. That's to give you an idea. Okay, 28% in the space of 6 months. Here, even more, November, December, January, February, March, April, May, June, July, I'm recording this video in July 2023, 9 months, 9 months to go up by 20% and a bit. 28% for Algo, and this is all altcoins, the entire crypto market behaves like this, except for Bitcoin, which will be a little less volatile, potentially. But here, in the space of even less than a month, a 25% drop, that's what the American market gained in 9 months. To give you an idea. So, if there's a 10% variation, I risk losing all my capital. Well, there's a good chance that yes, you could lose all your capital. And anyway, even if you make a trade like this, and a trade like this works, the third one, you'll lose everything, very probably. So, in the long term, it won't be profitable. So, leverage is not used to increase gains, because if we increase to increase gains, we also increase losses. We only use it when we don't have the cash, all the cash available to make our trade, if our trade requires 1000 euros to have a risk of 100 euros, for example. Okay, like my example here, I can put 100 euros from my pocket with leverage x 10, and so I'll have my 1000 euros, but I'll only have 100 euros from my pocket. And leverage will not change anything, it will not increase the risk of loss or the risk of gain. It will just be there to finance me because I didn't have the money to finance it, quite simply. Okay, now we're going to talk about little tips that I'm going to give you, which is simply the win rate according to the risk-reward. In trading, you might think, yes, and you see this often, for example, on TikTok, on YouTube, guys who come, who know nothing at all, who rent cars in Dubai, etc., who make you believe, yes, with trading, blah blah blah, I'm here, I make 90% profitability, I lose 4 trades, I win 90 times out of 100 this month, we did 27 trades, we had 24 winners, three losers, blah blah blah. People who are literally messing with you, and who make you think, okay, so to be profitable in trading, you have to win 8 or 9 times out of 10. Well, that's completely false. Here, I'm going to give you a table. I'll put it in the description. I'm going to give you a table that I made myself that will show you that if every time I take a trade, remember earlier we talked about the notion of risk-reward, of risk-reward ratio, if every time I take trades, my risk-reward ratio is a minimum of 2.5. So, for example, here, it will give a trade like this. That is to say, the market has to go up here for me to win, and if it comes here before going here, I've lost. Okay? So, the goal is that it can do this, and it doesn't come to trigger your stop, and it goes to trigger your take profit. If we do this, we've won, we have a risk-reward of 2.5. Well, if every time I take trades, and I'm not talking about investing, I'm talking about trading, if every time I take trades and I have a minimum of 2.5 for 1 reward ratio, I only need to win 30 times out of 100 to be profitable. That's all. That is to say, if I win 40 trades and lose 60, do the math, you'll see that you'll be in profit because I always win 2.5 times more than what I risk, quite simply. I risk 100 bucks. Okay, I risk winning 250 euros because 100 times 2.5, remember, that's how we calculate net profit. Well, quite simply, if I win every time, every time, 2.5 times more than what I risk losing, even if, for example, as I only won 45 times out of 100 this month, well, I'll make a profit. Yet, I lose more than, I lose more than I win in terms of trades won versus lost. That means I can have, for example, 55 stop losses and 45 take profits, so 45 trades that go through, 55 trades that don't go through. Each time, at a minimum, I have 2.5 of what's called the risk-reward ratio. I make a profit. And yet, you see that, well, if I go on TikTok and I show people, "Hey, I also won 45 times, I lost 55 times." People will just stop at, "I won 45 times, I lost 55 times, so I'm a clown, I haven't made money." Yet, mathematically, and it will be the case, I would have made money. Yet, the guys who come and tell you, "Yes, this month we won 24 trades out of 27," so that's like a 90% success rate, 88%. They're messing with you because behind that, if the risk-reward is negative, like, for example, it's 0.2, well, guys haven't made money, quite simply. And it's easy to, to win 24 times out of 27. If here, I come and I'll show you how to set a stop loss on Bitget. If here, for example, I come and put, it looks like this, hop, and it looks like this. So, I have negative risk-rewards. Yes, I have a high chance of winning because, and imagine, sometimes guys manage to do this to justify, because what they simply want is for you to go into their group, etc. But imagine, if I offer trades like this, well, yes, there's a much higher chance that the market will come back here before going all the way there. But you need to know that this is not profitable because the day I lose just twice in a row, I have no more capital, if I've lost almost everything. This is what needs to be understood, okay? So, it's not profitable, we agree. So, that's why risk-reward is very important, the ratio is very important. And if, for example, I go for ratios of 3 for 1, you see that I just need to win 26 times out of 100 to make money. Then, that's gross, net, it will be different, you'll have to win a little more because you'll have fees to pay, etc., which will take a little margin. But anyway, we won't be far beyond these figures. And so, you see, for example, risk-rewards of 6, etc., well, for me, it's not really interesting anymore. Always try to be at least at 2, and above 2 is very good, but at least 2. And you'll see that even if you win once out of two with a score of 2 for 1, you'll make money. Because if I lose 50 times 100 euros and I win 50 times 200 euros, well, I've lost, here's the calculator. If I lose 50 times 100 euros, I've lost 5000 euros. Okay? On the other hand, if I win 50 times, wait, I'll reset everything. If I win 50 times 200 euros, well, I've earned 10,000. So, my net profit, 10,000 - 5000 is 5000 euros. Yet, I won 50 times, I lost 50 times. But that's the power of risk-reward. Okay? So, this is really something you need to understand and really take into account. Okay? We can win 4 times out of 10 and make money if I have a good risk-reward every time. Now, I'm going to go to Bitget and I'll show you how to set a stop loss. So, here we'll go to the platform, we log in, we log in, sorry, etc. We come to trading. I'm going to go to the spot market to show you this. On the spot market here, I'm going to go to BGB, tap, we'll go to BGB here on BGB, and I'm going to go here to set a stop loss. How do I do it? So, very simply, here you'll go to the orders here, and so, very simply, you'll put, for example, here, you have to go into the, you'll have to go into the settings, however, it moved from place to place when I did it. Okay, you'll go, no, we want to set a trigger order, but where is it? Okay, it will be here, sorry. So, you go to Bitget, you go neither into limit, nor into market, nor into okay. You go into trigger. So, once you've bought your asset, it tells me, for example, I have 4500 BGB available. Okay, I'm going to tell it, "Listen, what we're going to do is, if BGB drops, for example, here, so, imagine you want to take a trade and you want to set a stop at 0.45, I'm going to write here 0.45. I'm going to tell it, "Listen, if it drops to 0.45, you sell BGB." And here, the amount, for example, we'll tell it here, if you want to sell the entire position, for example, if you bought 4500 BGB here, as I have, and you want to close the entire position, you write 4500.8.621, etc., you put all the numbers, and so it will close the entire position. In my example here, I'm going to put an order that simulates, for example, if BGB drops, it drops back to 0.45, and for example, I've done a technical analysis and I deduce that if we go back to 0.45, we'll become bearish again, and the market is likely to drop further, and I want to take a little profit. Well, I can say, for example, "Okay, if we drop to 0.45, you sell me 300 BGB." Okay? Here, when I click here, it will put an order, it will keep in memory that if BGB drops to 0.45, it must do everything to sell my BGB at market price. So, if I press sell BGB, it will tell me that the trigger price is 0.45. I confirm. My order is placed. If BGB goes below 0.45 or is equal to 0.45, it will sell 300 BGB. I'm canceling it because I don't want to do it. And in your case, that's what you'll have to do with what we saw earlier, so the stop loss is how you can set a stop loss when you buy something. Okay, that was just to add that to Bitget so you can know. So, I'm going back to, so, really, this was a course on risk management. In the next course, we'll talk about investment strategies, mistakes to avoid, and then in the last course, I'll give you an infallible plan if it's applied well, so that you can invest serenely and make gains in the next bull market, and also the mistakes to avoid, the pitfalls to avoid. Finally, I wanted to talk to you about the volatility of an asset. If you want to invest, I give you this tip: you invest only when the market is flat, when it's horizontal. Okay? When the market is vertical, you don't buy. Vertical means when the market is like this, these are the worst times to invest. When everyone is talking about an asset and it's vertical, it's dead. You missed the train. You go somewhere, you go to something else. Okay? We invest when the market is flat. For example, here, good time, good time to invest, here, good time to invest. Okay? In another course, I'll talk about market structures, which are really essential to know to catch bottoms and buy at the right time, and that will also be in the last course on the infallible plan that I'll give you to be able to surf the next bullish cycle well, or if we're already in it, and we're going to look at this training, scratch what's left to scratch of the bullish cycle, and do it well. Okay? So, yes, we buy when it's horizontal. Is Algo horizontal here, for example, for now, not yet? Are there any assets in this market that are horizontal right now? There are a few. For example, here, I'll have to go to the top of the market. So, an altcoin comes to mind. Well, here, for example, Solana. Solana is starting to be horizontal. You see that if I draw two lines like this, it's ranging, it's completely horizontal. Solana is a good time, potentially. It doesn't mean you'll buy at the best price, but in any case, if you invest here, while it's horizontal, there's a much higher chance of making profitability. When it becomes vertical, we don't know if it will pump. But see here, it was horizontal, good time to buy. Vertical, here it's starting to be too late. Then it became horizontal again, it could be a good time. It had a last rise, and so all these were the worst times to buy. You see that the market has already come back below all its price levels. All the people who bought here, if they didn't take profit, well, they are currently at a loss. Okay? And similarly, all the guys who were in a hurry, who constantly bought like this when it was vertical, well, currently they are losing money, whereas here, the market, we're waiting for it to be horizontal. So, it started to be horizontal here, we could buy a little here, for example, if we want, and then here it's starting to become horizontal again, we can start to buy a little here. And you see that the prices are rather good, since it's enough for the market to go up a little and you make a profit, quite simply. Okay, knowing that we've already dropped a lot, and there's a good chance that if the Nasdaq goes up again in the next cycle, well, we could go up to 50, 100, 150, 200 dollars, and you could make profits. Then, in the action plan, I'll give you the right confirmations, etc. Here, I'm not giving them to you in this course, that's not the objective. But mistakes to avoid, we don't buy anything that is vertical. Also, when we buy an asset that is vertical, we are in very high volatility. For example, here on Solana, it's very vertical. In the space of a few weeks, it pumped by 889%, it almost did x 10. That's huge. But consequently, more volatility means increased risk, because if there's high volatility, high price variation, it can do x 10, but you see that in the following weeks, in the space of a few weeks, it has already lost 70%. So, anything that is very vertical and very volatile, and therefore the risk is increased, quite naturally, quite simply. If I don't have a stop loss, again, even if I have stop losses, because the volatility is high, well, my stop losses will perhaps have more chances of being triggered because the rate of market variation will be more important. Whereas in a market that is horizontal and doesn't move much anymore, like here, currently on Solana, it's been between 8 dollars and 27 dollars since December 2022. So, for 7 months, we've been between 8 dollars and 27 dollars. So, lower volatility means lower risk. Whereas if I invest in something that is very vertical, at any moment I can suffer the backlash, as happened here, and therefore I can lose a lot of money very quickly. And when it's vertical, it's too late. We invest when it's flat, when it's horizontal. For example, I'll show you ETH, Bitcoin, whatever you want. In the previous cycle, ETH, it was a good time to invest when it was horizontal. When it's vertical, it's too late. How is ETH now? We're talking about it. It's horizontal. So, at these price levels, it's interesting. And if we have another bullish cycle, it will be interesting to sell at vertical prices. But again, I'm saving that for a future training video. I'm trying to think of things I might have forgotten. Yes, you need to dissociate trading and investing. Investing is different from trading. Trading generally involves stop losses that are quite close to the entry price; it's trading at a higher frequency. Investing is, for example, buying, for example, yes, I'll only do investing. I have 2000 euros to invest. I want to invest in 10 cryptocurrencies because I can do it, I can invest 200 euros in 10 cryptocurrencies, which will make 2000 euros. So, I've used my 2000 euros to invest in 10 cryptocurrencies. And so, yes, I've made my investments. I'm ready to risk my 2000 euros, which are, for example, 10% of my assets. And so, if the crypto market dies, well, I'll lose my 2000 euros. If the crypto market doesn't die and it appreciates, well, I'll make capital gains and I can take profits when the market goes up. So, this is different from trading too. It's hyper important. Why? When we do trading or even investing, we first know what we're willing to earn, what we're willing to lose. That way, it will allow us to accept the loss, quite simply. Because it's easy to say, "Yes, I invest in Bitcoin," but tomorrow, if Bitcoin drops by 50%, are you ready for 50% of your stake? If yes, go. Otherwise, we'll have behavioral and psychological errors: stress, anxiety, pressing the sell button when it might be the moment to buy. But you'll sell because the market has psychologically put too much pressure on you, and you don't accept the loss. Whereas tomorrow, if, for example, here I buy Ethereum, but I tell myself, "Okay, well, if it goes to zero, I'll lose 500 euros, I agree with that." Well, if ETH goes from 1800 to 1000 dollars, since psychologically you're ready to lose your 500 euros if it goes to zero, well, if you see, for example, 250 euros in loss here, you'll accept it. You won't sell, and it's possible that the market will go up afterwards. The guy who put too much risk will sell and will be fooled because the market will go up. You, certainly, you bought here. Well, it would have been better to buy at the bottom. Again, it's the future. Since we're okay with the risk, ah, well, I'm okay. I agreed to lose 500 euros if it went to zero. So, here I see that I have a latent loss of 250 euros. Again, as long as I haven't sold, I haven't lost. Just like when I haven't sold, I haven't gained 600 profit. Well, okay, I agree. Even if it goes to zero, well, I agreed to lose my 500 euros on Ethereum. It came here, I didn't panic, I didn't do anything, I didn't touch anything. What I was looking for was capital gains. I think Ethereum can make capital gains. If it goes to zero, too bad, I lost 500 euros, and then if it goes up, okay, I'll make profits. And then, ETH new highs. You bought here. In the meantime, we did this. The guy who did all-in and wasn't okay with his risk, who didn't realize it, well, he probably sold when it dropped by 56%. You kept it, and you find yourself with 243% profit, and then you're happy. And then you can start selling and taking profits. Then, yes, you do what you want, but that's to give you an idea. Knowing your loss in advance and your potential gain also in advance allows you to accept the position. And once we write something, we buy, we set a stop loss, we set a take profit, we don't touch it anymore until the market gives the final outcome of the trade. If you can't help but touch the stops, the take profits, etc., before the final outcome of the trade, it's because you weren't okay with the risk-reward of that trade, and therefore the risk was probably too high. You'll have to consider reducing your risk on the next trades. If, for example, risking 5% of your capital on a trade is too much, you'll have to consider moving to 4%, to 3%, to 2%. To give you an idea, personally, I'm between 0.75% and 1.25% of my capital when I trade an asset in terms of risk. So, I'm on my risk between 0.75% and 1.25% of my crypto capital. Did I have anything else to give you? So, vertical market = volatile = increased risk. Horizontal market = less volatile = less risk and potentially the best opportunity. Because remember, when it's vertical, we buy. When it's vertical, we buy. When it's vertical, we sell. When it's vertical, we sell. When it's horizontal, we buy. And when it becomes vertical, we sell again. So, when you watch this training video, maybe it will be in a year, I don't know when I'll release it. But maybe you'll watch it, perhaps even a year after I released it. And maybe, well, at that time, I don't know, maybe in 2025, you're watching this video, Ethereum will perhaps be here at 6000 dollars. Well, maybe it won't be the right time to buy Ethereum. It was at the time I was making this video. But at least this training will allow you to benefit from the next bullish cycle, or even from certain crypto assets that will still be horizontal and which will then perform. It happens that Bitcoin will be completely vertical, but that you have other crypto assets that are like this and which will then join Bitcoin, and therefore you can always buy them. Okay, I think I've talked about everything I wanted to talk about. So, in the next course, I'll talk about DCA, mistakes to avoid, etc. Today, we talked about pitfalls to avoid, buying vertically, poorly positioned stops, too much risk, leverage, the risks of leverage, the risk of buying when it's vertical. We talked about what? Well, no, I think that's all. The major pitfalls to avoid, and also, yes, the pitfall of "I have to win 90 times out of 100 to make money in trading." That's false. 30 times, 40 times can be enough with a good risk-reward. So, yes, this was really a risk, a course on risk management. My objective is that before you start investing in crypto, you have these notions to understand risk, what is return, what is it, how to have a good risk, how to trigger good investments, not to have 90% of your assets in cryptocurrency, because if cryptocurrency dies, or the assets on which you are positioning yourself die, then you lose 90% of your assets, and you have almost no money left. Avoid that. So, how to correctly calculate the money you can put into crypto based on your assets. Then, how to manage your risk with your crypto capital if you want to trade, for investment too, we talked about it a little, and you'll see that in the next courses, I'll come back more on investment with the right risk management to adapt. That's why I'm keeping other tips and tricks for you in the next training videos. So, the training video is following its course, I want to say. So, you'll see that in the next videos. I'll stop here. We'll meet in the next video, which will cover investment strategies that are easy to implement for a beginner, and the risks and pitfalls to avoid. [Music]