Everyone seems to know to be wary about "get rich quick schemes," but many people don't seem to be able to identify them very well. Every generation has a form of them that are suckering the persuadable and financially undisciplined. If you can't identify which ones exist in modern times, maybe you should hold off on doing anything extremely risky with your money.

The answer is usually simple: eliminate leverage and don’t let people bet more than they have.

It's about discipline and process. Calculate your risk capital (what you can afford to lose completely). Then allocate that amount and nothing more for stuff like options, crypto, angel investing, etc.