All my life savings were at risk. I decided to invest it all into UPRO – a stock that performed three times the amount of the S&P 500 index. At the time, everything was set; the market conditions were perfect. However, my heart was still pounding as I felt like vomiting due to my uneasiness. It was the first time I invested money into the stock market. Nevertheless, I told my father to execute the order on my behalf. On December 4th, 2017, I bought 40 shares of UPRO at $172.09.
After the first week, I lost a profuse amount of money. I felt that I had made the wrong decision. From my experience, if an investment lost money initially, it would usually end up unprofitable. Had I saved all my money just to squander it on the stock market? It was something that I often thought about at the time. Nonetheless, I persisted on my ideas, and held onto UPRO for weeks longer. During the second week, my loses slowly evaporated, and eventually, I broke even. It was the fourth week when a profit of eight hundred dollars materialized. I was ecstatic. Never had I felt so good in my life. I sold 40 shares of UPRO at $193.75 on January 16th, 2018. …show more content…
In the beginning, once I was five, I collected the money from Chinese New Year’s Red Packets, my birthday presents, and Christmas gifts. Afterwards, a bulk of it came from my allowance that I started earning once I was fifteen years old. It was around eighty to a hundred dollars a month, depending on how well I did my chores. Most of my friends spent all their money on games, food, technology, along with other extravagant items. Conversely, I saved nearly every nickel of it for the investment. I only spent about four dollars a week on a Popeye’s Tuesday special – two pieces of spicy fried chicken. Nevertheless, I had the capital to start investing with, but did I have the
After the first week, I lost a profuse amount of money. I felt that I had made the wrong decision. From my experience, if an investment lost money initially, it would usually end up unprofitable. Had I saved all my money just to squander it on the stock market? It was something that I often thought about at the time. Nonetheless, I persisted on my ideas, and held onto UPRO for weeks longer. During the second week, my loses slowly evaporated, and eventually, I broke even. It was the fourth week when a profit of eight hundred dollars materialized. I was ecstatic. Never had I felt so good in my life. I sold 40 shares of UPRO at $193.75 on January 16th, 2018. …show more content…
In the beginning, once I was five, I collected the money from Chinese New Year’s Red Packets, my birthday presents, and Christmas gifts. Afterwards, a bulk of it came from my allowance that I started earning once I was fifteen years old. It was around eighty to a hundred dollars a month, depending on how well I did my chores. Most of my friends spent all their money on games, food, technology, along with other extravagant items. Conversely, I saved nearly every nickel of it for the investment. I only spent about four dollars a week on a Popeye’s Tuesday special – two pieces of spicy fried chicken. Nevertheless, I had the capital to start investing with, but did I have the