(Video) How I Earned $400+ in less than 5 minutes Today
In our 2nd lesson, I talk about how you should never lose money. Never do a risky trade unless you are certain it will go your way. However, I also mention “money to play with”. If you have money that you feel you can “lose” while it won’t hurt your financial goals (e.g. it won’t stop you from adding 10% of your monthly salary in a index fund), then you are free to play with it. I must warn you, I’ve both earned and lost a substantial sum by “playing with money”. Never ever risk more than you can lose and still be happy walking away.
In this series I’ll use 10 000 NOK (approximately 1180 USD) to “play with” by trading CFDs at IG.com. My goal is to grow the 10 000 NOK as much as I can. I either go “bankrupt” or I manage to build wealth over time. I will most likely go bankrupt, but then you can learn from my mistakes.
Today I saw an opportunity to buy the Dow Jones index after it dipped some after a rising trend. I felt 60/40% secure of the trade and I closed it earlier to ensure the profit.
My bankroll is now 13 888 NOK, up 38,88% in one day (highly risky, and frankly, a bit stupid).