Was there a time in your life where you lost money? How much did you lose and why?

I lost money from a few bad tips from my stock broker introduced by my dad. He's been in the industry for over 10 years and he recommended some oil exploration company that didn't do so well during the year where oil crashed.

Luckily it wasn't that big of an amount since I didn't have much to start with right after my army days. It's a painful lesson but a meaningful one.

from there I learnt to evaluate companies on my own and made decent returns (esp during the REIT boom last year). the point is Always DYOD before doing anything!

I lost mine to Penny Stocks. The most dangerous kind of trading which everyone pump and dump. But luckily it is not a lot, around USD200. I learnt a lot about human behaviour, read charts and candle sticks, financial reports, SEC fillings, and a lot more. I guess the USD200 is worth it.

I have since move on to trade stocks at a higher price point as it is less volatile.

1. When I was 16 I lost my entire bag which has my wallet in it. My wallet had of all the USS tickets I purchased from my friends and had to pay them back. It cost me around 400-500. $400-500 was a lot for me back then and I didn't dare to tell my parents. Only managed to find my wallet 3 months after the USS halloween event was over.

There were few other instances where I misplaced my stuff. But this was the greatest lesson.

Lesson learnt: Always be careful with my personal belonging. Ever since then, I have not lost any expensive items

2. Getting scam from a Polaroid film supplier while doing an online business when I was 13-14. A lot of customers made a police report but could get our money back. Lost close to $300

Lesson learnt: Always ensure that you are purchasing from a reliable source and verify your siurce before purchasing.

3. Purchasing an endowment plan from a banker without fully understanding it when I was 15 - after I understood the policy from a friend who was working in the insurance industry I had cancelled the plan (it was 18 days after I have signed the policy so I couldnt get a refund)

Lesson learnt: Since then, I have learnt to look out for key words and key t&cs (such as the guaranteed sum assured)

4. Not knowing what I was investing when I first started out investing when I was 18 (out of bordeom during my holidays) - dabbled with options and made money from it but also lost quite a bit subsequently due to greed

Lesson learnt: Ever since then, I have did a lot more research and now I no longer dabble with options lol.

I listened to a bad advice from my friend, telling me to buy Bitcoin without having much knowledge myself. Ended up losing thousands.