Losing Money on an Impulse

I have been looking to make some money working from home. Having spent a decade with a regular pay check I have experienced the pleasure of earning my own money. It’s been ages since I had a regular job but I still remember the good feeling at the end of the month when my account was credited.

So I signed up on a website to trade in currencies and commodities using binary options. This basically means that you have to predict the market trend whether its going up or down. If you are right you get your money back with a good profit and if you are wrong you lose it all.

On my first day I did a few trades which I won. Then I did a few more which I lost. And since I had lost money I did more trades to try to win back the money I had lost. I lost some more. I got a bit carried away and lost around 60% of the trades I had made. Thankfully I was only trading in small amounts so overall I didn’t lose that much.

After that I learnt my lesson and and have decided not to indulge in such a risky business. Losing money is absolutely no fun!

Daily Prompt: Let’s Go Crazy

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25 thoughts on “Losing Money on an Impulse

  1. . I’m such a tightwad that it kills me to lose even a little bit of money, consequently I’m not very adventurous when it comes to investing etc. Wish I knew a little about it and could do so safely. You were smart to stop when you did, sounds fun, but addictive.

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  3. Well at least you managed to stop before you went really crazy and started trading more in an effort to win more back! it can be a slippery slope. It is great to earn an income and I hope you find something else to help you feel that sense of pleasure again.

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  9. This story did not end the way I was hoping. I was hoping you were going to tell us how successful you were! Oh well, I’m glad you didn’t lose more and learned your lesson. I wonder what you will try next job to do from home? 😀

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  13. Aaah, That must have been frustrating. But I guess thats the thing about new experiences, it has its ups and downs. By the way I’m loving your new banner with you son’s photograph on it. So cute!

  14. I think you are incredibly brave to have tried this. It always looks quite daunting! Bravo to you! I guess risk shows us the value of what we have and how much we don’t want to lose it 😉 You probably had the same results as many other professionals!

    • Yes you’re very right. Losing something makes us value it more. But you know what I’ve still kept the option open and I just might become a successful trader although I’ll be more careful this time around.

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