I still feel sick to my stomach when I think about how I lost a huge sum of my family's money trying to learn day trading. It was back in 2023 when I first got interested in passive income and decided I wanted to try my hand at trading. At first, I just paper traded for a few months using fake money to practice buying and selling stocks. I was doing pretty well and made some imaginary profits, so I decided to start trading for real using some of my family's savings.

Big mistake. I put about $50,000 of my parents' retirement money into an online trading account. I thought I knew what I was doing after paper trading for a while. But real money trading was totally different. The market moved so fast and I found myself making emotional decisions instead of sticking to my trading strategy.

Within just a couple weeks, I had lost over 75% of the account balance. I kept trying to make up the losses by taking bigger risks on trades, but it just dug me into a deeper hole. Before I knew it, almost all the money was gone.

Telling my parents was one of the hardest things I've ever had to do. They were devastated and incredibly disappointed in me. I had lost a huge chunk of their nest egg that they were depending on for retirement. I felt ashamed and still have a hard time forgiving myself even now.

The whole experience taught me some hard lessons. I learned that trading takes a lot more skill and discipline than I realized. Staring at charts all day does not make you an expert trader overnight. I also learned to never trade or gamble with money that I couldn't afford to lose, especially other people's money.

While I'll probably never get over the regret of losing my family's money, at least I can pass on the warning to others thinking of trying day trading without the proper preparation and caution. Don't be fooled into thinking it's easy money. In the end, it was an expensive crash course for me.

Nawah oh.

Did you say 50,000 dollars? ...

I see no harm in mentioning dollars. This the universal world's currency. Anyway, you know, while creating a passive income for the family is really a good thing, there is a concrete solid rule you must obey when learning how to invest: never put all your assets into one place. But what am I talking about? A few months ago I earned some money too and the exchange transferred it to stablecoin through some newly minted exchange. I wished I had known about Compape then! I would have been able to learn all the pros and cons of those brokers and have selected a better place for my funds! Fortunately, after many arguments with the administration, I manage to get hold of my money. But please, read these reviews first. And never repeat my mistakes.

Omo $5000 is enough to change my life in Nigeria

Me too he he.