My "50 cent"
September 19th, 2024
When plan is not planned
I once stumbled upon a "strategy" that I thought was pure genius. I had just learned about the concept of arbitrage – buying low in one market and selling high in another, basically a risk-free way to profit. I decided to apply it to the forex markets, where currencies constantly fluctuate in value.
I had this grand plan: I was going to buy euros with dollars, wait for the euro to rise, and then cash out. Simple, right? Except that I was impatient, so instead of waiting for the market to turn, I decided to do the opposite: I sold euros for dollars just moments after buying them, thinking the market would swing wildly in the next few minutes. Spoiler: it didn't.
While I was waiting for my "big move," I accidentally closed my position with a minuscule profit, like $0.50. I didn't even realize it until I checked my account later. The hilarious part? Over the next few hours, the euro plummeted, and I would have lost a decent amount if I had held on.
So, in my complete lack of patience and accidental trade, I earned a whopping $0.50 instead of losing big. It was one of those "right idea, wrong execution, but still a win" moments. I called it my lucky 50-cent arbitrage, and I've never tried that strategy again!
Moral of the story: Sometimes the best gains come from accidents!