When you “succeed” with one risk, you tend to take another one.
I did fairly decent with a risk that I took the other day. While I don’t know the complete results of the risk I took I feel confident that it will turn out fine in the long run. I actually see that it was a victory already.
With that being said, because I did well with one risk, I felt the need to take on more and more risk.
The philosophy that I go by in life is “while the defence is good, it doesn’t win games.” You have to attack. I’ve made a few “investments” in the past few weeks and, in order to “hedge” them, I’ve been playing it very carefully with capital expenditure. That doesn’t work.
You can’t expect to make money without exchanging value. Money is just that, a method of storing value.
I wanted to “see” if it would perform before I reinvested back into it. My logic was sound but, it doesn’t really work with my personality. I attack.
Long story short, I spent money on services in a company without even checking to make sure they were reputable. It was a complete novice/beginner mistake on my part. I let my emotions dictate my actions. Being reactive rather than responsive is never a good thing.
Well, at least I documented it so that the mistake won’t be repeated in the future.