This guide will teach you how to deal with death in this maddening game.
Guide to Dealing with Death
The Reaper Has Come
So...you have died. Maybe you were shotgunned, or maybe it was a "wrong place in the wrong time" situation, or maybe you were trying to be cool and ended up dead. That doesn't matter. The important thing here is: You had a nice char, couple cool items and... bam! Death. Well, that sucks, doesn't it? And trust me when I say it's very disheartening to get everything you worked for evaporated into a long dark, but the fundamental thing you've gotta do is to not give up, Items are easily replaceable, you can find exact copies just by playing, but... Do you really have what it takes to start it all over again? That bring us to...
Getting Back Into the Fray
At first it will be incredibly discouraging to start from scratch, then it'll be miidly annoying, then it's starting to get okay again. The thing is: Death is inevitable in your line of work. You gotta learn to roll with the punches. And make provisions. Start storing valuable high-tier items, so you don't have such a hard time rebuilding your character.
Learn with your mistakes. Observe attack patterns, see what monster you can take on without a sweat, which ones are gonna give you trouble, and the ones that mean certain death to you. Death is a mechanic of the game, and it's not going away anytime soon, I mean, the entire fame system is based off the fact that you, the player, is gonna die pretty much soon.
And if you just lost a particularly strong and valuable character, my best advice is to take a break. Y'know, to cool off. It helps, a lot.
Knowledge Is Power
Another thing which will help you a lot in the very hard task of avoiding death is getting to know the game better. Which dungeons can you do, as a not very powerful player? What does this monster drop, and it's good for me? If you get those questions answered, well, your odds are not gonna be so bad.
A great source of information about the game in general can be the realm wiki, and youtube guides.
He made some of the most easy-to-understand, complete guides I've watched, and believe me, I've watched a lot of them.