Hi guys,
Just an update for those of you that have checked the profits page. I have started my “3rd Endeavor”, I’ve made a number of trades, but right now I’m in the red. I’ve been busy with school and setting up this blog, trying to add content to the education section. So I haven’t been doing my trades with commentaries lately. This blog is a big time killer ontop of everything else that I have to worry about.
Also, as of today, I’m now participating in a stock competition at school so I will likely be focusing more on that, then I will on this blog and forex trading as a whole. I hope, I can do a quick update of the trades and stuff by the end of the week. But at the moment, markets are in a consolidating stage, price movements are minimal and this has led to my current downfall. Once markets start moving and trending again, it should be easier to trade.
Lastly, I’d like to do a financial recap since I’ve decided to clear out most of my StartOptions account….
Quick overview of my deposits + credit card purchases
October: Deposited the initial $250 USD and paid for it on credit card already December: Deposited $500 USD + bought some things for myself since by Dec 27th ish I was already profiting = $1326 CAD ish
January: Withdrew $750 USD leaving a balance of $566 ish on the card.
StartOptions balance after the $750 withdrawal is $1666 ish. This isn’t really mentioned anywhere on the site, but for all the friends or people that know me. You know that I help my parents pay the bills, and at the beginning of every year, the payments for property tax starts to roll out . I’m kind of strapped for cash, so this is why I have to withdraw most of my SO account out. so I’m going to withdraw $1606 USD, leave about $60 ish to play 2x $30 trades and build it up from there (or lose it all). The $1606 will help pay some of the property tax off (first bill is for $875, the whole year is about $5.5k) + the remaining of my credit card bill.
With my SO account now cleared, I still have my bbinary account which I’ve deposited with $500 USD, which is currently sitting on a $125 loss. This $500 is on the Jan-Feb billing cycle which will be due the beginning of march. So I have about 3 weeks left to make money on this deposit before I have to withdraw it to pay off the initial deposit.
PS: This is why I’m financially constrained in terms of my growth. Because I have to help pay the bills, if I never had bills to pay. I’d have lots of cash from my business to expand it + my investments would just keep growing. But instead, I have to withdraw periodically to pay the bills.