lose, loose

Lose or lose ( rhymes with ooze ) means to misplace and to be unable to find again--
Don't lose your mittens.
If I lose my school book, I will have to pay for it.
If I lose money gambling, I'll be broke.

The past tense of lose is "lost"--
I lost my money at poker.
The person who loses is a "loser"--
Loser buys the pizza.
To be in the middle of a lost game is "losing"--
I don't mind quitting. I was losing, anyway.

Loose or loose ( rhymes with goose ) describes being unfastened, untied, let go, or made less tight or binding--
My shoes are too loose.
Unwind the dog's collar until it's loose.
Loose is used as a verb ( action word ) on occasion, but it is very old-fashioned--
He would loose the ties that bind him.
The act of making something loose (verb form) is to loosen--
Loosen the dog's collar.
The school  loosened the restrictions on going out at night.
Looser means more loose.
Loosest means most loose.
Loosing is to be in the middle of making something loose.

Now that you know that, you can say--
"If you have a hole in your pocket you may lose all of your loose change."

Note--to "lose change" would mean to be unable to find some coins.
"Loose change" means leftover coins, or uncounted odd coins and small bills.
Note # 2--a "loose woman" is a tramp or strumpet--
When they saw the way she was dressed, they assumed she was a loose woman.