When trading in markets like the stock market, currency markets and even the more volatile crypto markets (BTW more market price volatility creates more opportunity and more potential loss in a mroe compressed timeframe - thats all).
There is a #1 Rule that matters - "Live to trade another day". Know better how to manage risk(s) so that you don't lose so much of your money (energy) in any one trade or contest - that it forces you to leave the game - entirely.
Conversely, if you are continuously fantastic and reliable at winning in the casino of life - then ok fine. Most people struggle a bit - thus needing a more reliable way to approach the game. Live to trade another day appears to mean the near exact same thing in any contest or when managing your family-affairs.
The reason people appear to struggle so is that they do not perceive or approach risk in a more effective way, instead ceeding their emotions akin to being more addicted to action - before evaluating risk prudently. It seemingly takes both in equal measure to consistently be the last man standing.
When in a War - each battle is won by being the "last man standing" - meaning that the opposing contestant have exited the contest in one way or another and only you or your team is left. I leave it up to you to prove it any other way?
So, when deciding what courses of action (risks) to take - the general rule of thumb is generally never bet more than 10% of the farm, unless you have reliable inside information, but never betting more potential gain/loss than you can replace in 1 year (given a normally functioning economy).
Of course, we are not in a normal economy - we appear to be in a compressed and more volatile time-frame. That does not necessarily mean - we throw out great strategies v.s. adjusting them accordingly.
Regardless, if you have not already, consider better learning to "live to trade another day" - be it at the grocery store, in a financial market or within any battles within any war or contest.
One way to do this is to keeping our powder dry (becoming more emotionally dispassionate regarding marrying any certain trade - permanently) learning better to accept the loss of a battle or two, but winning more along the way.
This is the 1st strategy I always consider. Not that I always get it perfect either, but consider not letting perfect be the enemy of good enough.
It appears we are in prolonged contest(s) Last man standing.
All my best, JB