Day Trading

 

So yeah, I’ve not written a lot over the holiday season. Essentially, I had an unburdening with the “I live on disability” post and that was my mic drop, for better or worse. The funny part was that was the time where I told my doctor at Duke I was writing again (honestly believing I’d continue). Then life happened.

I’m writing today to profess my faith in G-d. I know, I know. We’ve all heard it before. Let me explain though. Yesterday, I got myself into some trouble with binary day trading. For those unfamiliar, think gambling with a research component.  Because I am disabled, I can only make a couple hundred dollars a month of side income. So nothing major, just a dabbling on the side. Or so I thought.

Fast forward to yesterday afternoon, I’m down $1200. You read that right: $1200 in one day: the $500 that I opened the account with and another $500 that I used to keep myself afloat. If you’re doing the math, you realize that 5+5=10 not 12. The other $200 was a sign up offer. I managed to turn $40 back into $400 by the time that Florrie arrived home. I didn’t dare tell her what I’d done. She doesn’t check the bank statements or watch the finances very closely, she entrust(ed) that job to me. All I needed to do was stay quiet until I could fix the mess I’d made. No such luck.

“What’s going on with that day-trading thing you were talking about doing?” she questioned after putting Alastair to sleep. “Can we table that conversation until tomorrow night?” I replied. Silence. Stone silence. The kind of silence where she knows I’ve done something wrong and it’s just a matter of degree.

I then explained everything to her. I explained to her that I’d started trading that day, that’s why the credit card was frozen. I spent $1000 of our money and lost $600 of it. She was so mad, so mad. Rightfully so. I felt so stupid. Rightfully so as well. It seems as though I cannot get out of my own way as far as making wise decisions go since surgery. The conversation ended with me agreeing to fix the situation and her going to bed. Don’t worry we’re going to get to G-d.

Overnight, I bet again. I woke up this morning to $690. I thought I figured out a relatively smart way to play the market. So I researched for an hour this morning until I found what I thought was a sure thing and bet again. I played it safe at first, only betting $100. That would only net me $80 though. It would take forever to get to $1000 at that pace. So I decided to bet it all on one trade: $560 that USD/CHF would be under 1.00333 at 12:00p that would total me $1008. Let’s just call that what it was, it’s a bet.

The market went in the right direction at first, making me feel quite good about my decision. Then it went very bad. My earlier $100 bet folded and I lost my money. At this point I was feeling rather desperate. I was begging G-d against all hope watching the index climb and climb. 1.0040. 1.0055. 1.0060.

“G-d, if you’re there I need you to prove it. My marriage cannot use another hit from one of my dumb decisions. If you’re there prove it.” I said more than that and in a lot more colorful way, but let’s keep it PG and say that I challenged G-d to prove G-d existed. G-d was under no compulsion to reply and I apologized later, but G-d gave me the win. The market was 1.00294 at 12:00p. My family won back everything that I lost yesterday! I’ve still got to figure out how to get the money out of the site in small enough increments that it doesn’t mess up my disability check. I’m still not out of the woods yet, but I can at least see a clearing.

So, if you’re questioning and you need an anecdotal story to get you through… here you go. Have at it.

EGB

[Update: It’s not enough money. The house always wins.

In order to qualify for a withdrawal with an account at binarymate that has not been awarded any bonus, the funds deposited must be turned over once. By way of example, if client deposits $1000, client must achieve a turnover of $1000 or more in order to be eligible to withdraw any funds. Turnover is defined as the sum of the value of all trading orders made excluding the value of any trading orders that have been cancelled either by the client or by binarymate.

Furthermore, subsequent deposits must be turned-over before any funds from the account can be released, regardless of previously achieved turnover. By way of example, if a client initially deposited $1000 and achieved a turnover of $10,000, and then deposited a further $1000, client must achieve a total turnover of at least $11,000 before any funds can be withdrawn.

If turnover requirements are met, client may withdraw funds from the binarymate platform.

Furthermore, any withdrawal that must be completed by international wire transfer will be charged a $50 transfer fee.

If the client wishes to withdraw funds from the account where the turnover requirement has not been met, for either initial or subsequent deposits, client may do so, however they will be charged a further 20% processing fee of the withdrawal amount, in addition to any transfer fees.

If, at any point, client elects to take a bonus on a deposit, the withdrawals terms and conditions in section 13 will apply.

The minimal amount allowed for withdrawal is $50.]