Jumping into investment without research

Greetings everyone!

Before you read on,
In my country, as of the last three to four years, a dollar was measured at the rate of N500 per dollar. That's to say, if I earn 10HBD here on the blockchain a week, I'm entitled to N5,000.
But currently, the naira is measured at the rate of N1,480 per dollar. That's to say that if I earn 10 HBD per week, I'll be entitled to N14,800. That is a whole 300% increment.
If you're into finance and check it properly, you'll see that our currency is sinking and crying for help because almost everything in the economy is tied down to the dollar rate. This means that having N100,000 is nothing to make boast of; that's just 66 dollars, which can't currently buy the cheapest phone in the market.

Okay, that's that.

Some weeks ago, when I saw the massive increase in the dollar, I saw it hit N1,500 per dollar, and I also heard that it'd keep increasing and probably hit N3,000 per dollar in no distance time.

I decided to use some money with me—not my money though; it's money someone kept with me and the person said she's not using it any moment for now. In fact, she emphasised that she's not using until the end of the year.

I bought some dollars at the amount of N1,520 per dollar with the intention of making some profit when it increases, say N2,000 per dollar.

Guess what happened next?

The following week, the owner of the money, just from nowhere, approached me and said she wanted to use her money.

"Why? How? Why now? Didn't you say you're using it towards the end of the year?" I asked him with my heart boiling like hot water.

"Emmmm... Please don't be angry. The economy has taken a new shape, and I need it to trash out some expenses," she replied, stretching out her phone containing her account number.

"You'll have to wait. I converted your money into dollars. It'll take me some minutes to get it back to naira," I said to her and left her on the spot.

I quickly went to my binance to check the price of the dollar. Before that moment, I had heard on the news that Naira had gained some value, which implies a fall in my investment.
I checked, and behold, the dollar was at N1,420. That's a big loss of 10%.

"Ohhhhhh!" I cried out aloud with a heart full of regrets.

I wanted to go back and tell the lady that her money is not available, but that would label me as an unfaithful person, which I don't like.
I sacrificially sold off the dollar (converted to fiat) and used my own money to top it up to complete it.
I regretted ever jumping on that kind of investment.

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Do not jump on an investment or trade because others are doing it or because it's trending.

I've known this rule, but I failed to heed it. I allowed greed to blind my eyes.
The best I could have done was to settle down and do my research to ascertain if the inflation would keep pushing up.

A lot of us are on this table as well, we love to rush into trading without taking time to make research or ask questions.

Thanks for reading.

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