Investment Experience: What Is Your Worst Investment Decision?

avatar

At times we traders and investors know that we can’t be winning all day, we always have time where market will be bad or our investment will hold a grip on us in the worst way we never expected. I would have lot to write another post related to finance but this topics keep popping up and I don’t really know why, maybe for fun and to learn a lot from your own personal experience. We all know investing is one things we need to be very careful about and make proper research before engaging in but how do you react after all your research, and you decided to invest but everything change against you.

I once remembered when I made one of my worst investment, I brought this particular token after a friend of mine today about the coin when It really increase well in price from something like $1+ till $10. I was actually waiting for my allawee as a corps member, you know the joy when you have some cash at hand to invest. Immediately I went ahead to grab some of this token without making proper research and actually because it was increasing and I don’t want to miss out (Fomo), so I use an app to convert my naira to busd and I transfer it to binance, brought the token at 10$ and was very happy that at least it should do 14-15$ and I will pull out. And it was already late in the night when I did this. So I went to sleep instead of waiting to see the next move.

When I woke up the next morning, it was a shocking experience, it drop drastically and within that week, it was nothing to write home about. I was pained but as an investor we have learn to take away all emotions and learn to bear the loss when market move in the wrong way. Currently the coin price is 0.6$ when last I checked, imagine from 10$ straight down to 0.6$. Since then, I have been careful before grabbing and most times I now get any token at their lowest price instead but it deals with lot of patience and time taken with research. No investors want to lose instead of gaining profit.

We all have seen a lot in this finance world, but we all have one or two experience we do learn from and most do make us wax stronger and careful before trying out some certain things. What is your own experience like, what was the wrong move you took when investing which turn other way round?

Posted Using LeoFinance Beta



0
0
0.000
12 comments
avatar

I have quite a few ranging from cars to fishing rods and even crypto as in the case of NXT. We've all had bad investments.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Mine was in 2014 when I invested into a MLM scheme without doing a personal analysis. I lost over $1000 of my investment and the promised profit never returned till date.

0
0
0.000
avatar

Mine was in 2014 when I invested into a MLM scheme without doing a personal analysis. I lost over $1000 of my investment and the promised profit never returned till date.

0
0
0.000
avatar

Lolz I did some back then, all those referring to earn and I ran into debt because of it. Since then I now knw the mission behind all this mlm things

0
0
0.000
avatar

I even forgot the debt part of my story. Part of the investment capital was a loan and I paid the interest after I had lost the investment with tears. I can't forget that experience in a hurry.

Posted Using LeoFinance Beta

0
0
0.000
avatar

There are so many, so I dont know which one to choose haha

0
0
0.000
avatar

Lolz you are into lot of investment sir, your experience will be a huge one

0
0
0.000
avatar

its in the past and I dont have any of those bad investments anymore... I read your post a little later... thanks for using the lassecash tag

0
0
0.000
avatar

I invested in a stock as a very young man maybe ~18 years ago or so and it went down and I sold. Ever since I been struggling financially and got more and more fiat money debt over the years, until I eventually couldnt pay my creditors anymore, its only companies and the state not any one real person I owe money. My parents borrowed me some money from time to time, that I could never pay back, so there are the exception.

Life in Denmark is not all roses for everyone, even people from poorer places think it might be. :)...

Now with LASSECASH and HIVE (and my investment in farmfarmer.farm) I might be on the right track finally.

/Lasse

0
0
0.000