How To Lose $50K In a Few Short Months
Step 1 – Start dabbling around in Gold ETF’s you have watched for the past 3 years
Step 2 – Have some beginners luck playing the odds. Quickly turn your 30K investment into 75K in a matter of 3-4 months
Step 3 – Convince yourself you know what you are doing. You have the market figured out. Keep playing harder
Step 4 – Stop learning and reading. Just assume you know what’s best and how the market will react.
Step 5 – Bet bigger and bigger with each stock purchase
Step 6 – As the price of your shares drop drastically, convince yourself it’s smart to cost average down. There’s blood in the water, someone has to make money. Right?
Step 7 – Lie to yourself and wait for momentum to shift back your way. Nothing bad has ever happened by waiting out a bad situation.
Step 8 – Don’t set stop losses. Keep losing more money by the day.
Step 9 – When momentum does shift and you gain a substantial portion of your opening position back, be greedy and don’t sell. You know you’re a winner!
Step 10 – Go through a reverse 10-1 split and finally sell your shares for a gigantic loss before the year ends so you don’t have to pay taxes on your previous gains.
Follow these 10 steps and you’re bound to produce the losing results I have. Good luck!