RE: Putting up to 50% of your portfolio into YLO RE38, good money and risk management has nothing to do with mutual fund. You can invest in forex, options, commodities, equities, and all of these things are risk and reward vehicles. Good money management is about spreading our your risks and making sure that no one loss can permanently cripple you. Good money management is about recognizing your errors quickly and limiting your losses.
There is a whole statistical science behind how to size bets in an optimal way, once you understand the risk profile. Good for you if you tripled your net worth with one bet. But statistically people who bet 60% of their equity in single bets end up with zero equity. 90% of all day traders end up with zero equity in three years. It's not because they are the worst stock pickers. It's because they don't understand how to limit losses.
And you are right. It's not easy to practice good money management.