Retrospective Analysis of HourlyTrust Investment
I hate to say this but looking back on my investment into HourlyTrust my greed (and also a little arrogance) got the better of me.What went through my head when I was deciding whether to invest in the 24 hour plan or the 48 hour plan was that I didn't think I'd be on when my investment matured for the 24 hour plan and wouldn't be able to reinvest right away so I went with the 48 hour plan. This was even after I knew that the extra profit wasn't even close to worth the risk.
That was just an excuse I made to allow myself to be greedy plus I thought there was no way it would close within 48 hours which was my arrogance talking.
If I had invested in the 24 hour plan I would have definitely withdrew right away and probably would have got my money too.
So this was the one time so far when my emotional control really faultered. But the important thing is that I learned from my mistake which I certainly have. Admitting I was wrong here is also a pretty important step.
So when I found FirmHYIP I began having the same thoughts but refrained from investing in the 2 or 3 day plans and just went with the shortest one. It's always a good idea to invest in the shortest plan possible and then after that investment matures reassess the program to see if you'd like to reinvest or not.
I also changed up my strategy a little bit and went with a $20 investment instead of a $10 one which happened to be 16% of my total eGold balance. Although I was risking a greater amount, I felt the odds of this program collapsing in 24 hours was very unlikely based off of all the other HYIPs I've followed (a lot more than I've reviewed here).
I aslo had the sense to withdraw a large chunk of this investment as soon as possible to further reduce the risk of adding so much money.
As of now it still looks great and it's looking like I may be reinvesting in FirmHYIP again, that's after I withdraw enough to be in profit though.
posted by The Monetizer @ 11:41 AM
1 Comments:
Thanks for the positive comments. Yea I was just trying to show that I practice what I preach and when I mess up I need to make note of it. By writing it down and admitting that I was wrong I'm a lot less likely to make that same mistake again. Whereas some people will just say "Oh I got unlucky, maybe the odds will be in my favor next time" then they'll likely end up repeating the same mistakes down the road.
Hopefully everyone reading my blog can learn from my mistakes as well. One of the biggest things I picked up from my investigation into day trading was that you MUST learn from your mistakes otherwise you WILL fail, no question about it. The same applies here. I have learned and now moved on to new programs continuing to implement my basic strategy.
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