I'm no investing expert (I've only been playing in the sandbox for about a year), but I have learned a lot in a year's time from actual investing experts like Mark Cuban, Ray Dalio, and Morgan Housel.

This is what I've learned to help minimize losses and maximize gains:

1. Smart investing is more about mastering your own psychology than trying to strategize or time the markets.

2. Don't invest to get out of trouble. This will only make you more emotional. Only invest what you can afford to.

3. Patience is a competitive advantage. 99% of Warren Buffet's net worth was earned after his 75th birthday. His secret? Time.

4. Only invest in things you, or your really smart friends, strongly believe in.

5. Buy and hold those assets that you believe in for dear life.

6. Don't hesitate to place a bet on a new idea your smart friends tell you about. "If you wait for society to educate you, you'll be too late" (h/t George Mack).

7. "The best time to plant a tree was 20 years ago. The second best time is now."

8. Past performance does not guarantee future success. Especially true when looking at various altcoins/crypto projects to invest in. Many don't have the model or grit to survive in the long run. Choose wisely.

9. Don't put all your eggs in one basket. Diversify. Diversify. Then diversify some more.

10. Never be afraid to take some risks. Small bets on new projects could yield huge payoffs. 90/10 is a good rule-of-thumb: 90% "safer" investments, 10% risky.