Holidays

As many of you followers already know, I have been on a trading break due to the holidays. I want to wish you all a belated Happy Hannukah and a belated Merry Christmas. This week is the New Year! I am very excited for 2015. In order for me to stick to the 7 year plan, by 12.31.2015 my account will need to be at $615.28, which is very doable. Remember... the plan is $100 to $100M in 7 years. This means 15% a month. Compounding interest is an amazing thing. So, for the week of 12.28.2014, I will ONLY be placing my 2 days trades on Sunday and not placing my intraweek trades. I have already hit the goal for December 2014, so there is no need to not take my vacation. So for this half-week lineup check out the video below.

As I stated in the video, this will be the last time I simply record my orders being placed. I will be creating some educational videos for my Youtube channel and also creating some videos of my active day trading with the micro-strategy. What this means is in the weeks to come, I will be placing all of my orders, the why's and the thoughts behind each one on the blog again. Let me know which is better for you, which you like better... video or blog.

As I also stated in the video, please leave a comment, let me know if you have educational questions, do you understand Bollinger Bands, Pivot Points, etc.? Do you have questions about my system, orders, account balance, etc.? Let me know. If you don't want to leave a comment, please feel free to use the contact me form on the right hand margin.

Happy trading and HAPPY NEW YEAR!

#YoungBuffett out!

12/21/2014 Weekly Outlook

For those of you that didn't already see my newest video on YouTube, you can check it out here --- this video is an overview of my early week orders and a little insight into this week's market.

I expect to see make some money in the EUR this week, especially in my EUR/GBP and EUR/USD this week. The EUR/USD has remained relatively flat the past 3 weeks serious downward pressure due to the European debt crisis. BUT what will become of the USD in 2015? With the Fed telling us that interest rates are going to go up next year, the USD can only expect to slow down and will begin to reverse direction on most major currencies once that rate does climb (most likely around the middle of the year).

So for the week of 12/21/2014, what orders did I place? I will talk about my trades in terms of which one is next to be executed. The AUD/USD is actually being traded this week. After staying out of the AUD last week due to my S1 and S2 being above my below Bollinger Band, I placed a limi buy order at .8106 (28 pips away). My S1 is finally within the bands and my S2 is aligned perfectly with the lower band. A 5,000 unit order moving merely 5 pips will give me a very decent ROI.

Next, the EUR/GBP, like I said, I am expecting some big stuff from the EUR this week. With a 3,000 unit order placed long on this pair at .77981 (29.9 pips away) a 5.8 pip bounce will leave me with a nearly 2.6% portfolio gain.

Below are the rest of my early week orders in order of closest to farthest away from being executed:

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I am going to be making my next video on Tuesday afternoon. Be sure to keep a look out. I will go over my intraweek orders. Also, I will be posting on the blog tomorrow about some micro-trading.

Happy trading. #YoungBuffett out.

Week of December 14, 2014

It is 4:00 and I am sitting down to analyze the charts for the week. This week I will tell you which orders I placing and I may even place an image or two :) I will also tell you which pairs I am not going to place orders in. I analyze charts twice a week... Sunday and Wednesday. I set up my orders to expire after two days. 

This post may be more technical than my normal posts, but will also give you a little inside into how my mind works... so enjoy, this may be the only time I give you a snippet into my forex strategy. To start with, I trade using the 1 week charts, having my Bollinger Bands, SMA, EMA, and WMA on the chart and then I draw my pivot points over the weekly chart too. 

So let's start with the AUD/CAD, AUD/CHF, AUD/USD, GBP/AUD, and USD/CHF. I am not placing any orders in any of them today. The pivot points are way below the Bollinger Bands, which means that the technical indicators are not lining up. To explain what I mean, see the image below, which is a chart of the AUD/CAD and the same thing is happening with all of these pairs. 

Next is the CAD/CHF. I will be placing a limit sell order for this pair, but no limit buy. The reason is because my R2 and my upper Bollinger Band line up almost perfectly. This means to me that if the pair manages to jump that high, it will hit that ceiling and have to drop back down... at least a few pips, which is all I need in order to make a profit. For the USD/JPY, I placed a very similar order. However, R2 was slightly above my upper Bollinger Band, so I split the difference (see my last chart for what I mean on splitting the difference.) Here is the CAD/CHF chart:

Next we come to the EUR/GBP. This is one of the most stable pairs that I trade. Typically they are pretty similar in movement because their economies are so closely related and intertwined. This pair stays within their Bollinger Bands almost always and typically adhere to their pivot points. So I have placed  limit buy AND a limit sell with this pair. I also placed limit buy and limit sell orders for the NZD/USD due to the exact same technical indications. Here is the EUR/GBP chart:

The EUR/USD, EUR/CAD, GBP/CHF, GBP/USD, and NZD/CAD are all very similar in my CAD/CHF except I am placing a limit buy only, my S2 is a tad below the lower Bollinger Band, so I split the different and placed a limit buy order. The only difference is the GBP/USD (the lower band and the S2 are perfectly lined up.) Here is the EUR/USD chart:

So, that is my outlook for the week, or at least the first couple of days. If you are wondering about the USD/CAD, I am actually short in the pair currently and up a few pips, waiting for it to hit a 12 pip profit then my T/P will be engaged. I have also been asked about my use of the MACD... well I don't use it too often. Honestly, I use the MACD when I am already in a trade and my T/P or Stop Loss has not been engaged for a couple of days, so I look at the daily MACD to see if I should just get out or hold on.

Happy trading this week. 

#Young Buffett out. 

USD BOOM

So the Non-Farm report came out last week. I meant to post about it then, but I have been so busy applying for jobs since I lost mine last week. Anywho, long story short, the USD gained over all pairs in my portfolio... which was a bummer for my USD/MXN pair. I am still holding it though for the daily interest and I still see it coming back around. So, I am short on the pair and plan to stick by the indicators.

As for my other trades this week, I hardly ever use the news as a source of indication on my trades and 99% of my trades are based off of technical indicators, which is why I made a decent amount of money on longing the JPY this week. Due to the JPY steady decline.. it finally hit a solid resistance and bounced. At the beginning of the week I took up long position in the GBP/JPY, the AUD/JPY, and the USD/JPY. I made a decent 2% on each of these trades. My favorite technical indication is when the R3 or S3 line up with the Bollinger Bands and they did this week. When I see that, I know the enter that position either long or short (depending on which band we are talking about). I did the same thing with the NZD/CHF this week and that gave me a nice 1.1% gain.

So that is my week in a nutshell. Honestly, it has been a slow last two weeks for me. I am up about 10% this month, which is on my goal line, but I am typically slightly ahead of my goal. Either way, I am beaming with joy because I am making money and not losing it. Thank you Mr. Warren Buffett for those words of wisdom.

As always, my amazing wife keeps me strong and encourages me to stick to my system and not get emotional. The best advice ever... there is no need to make money, so it is better to just wait for the perfect trade rather than risk it. Since then, I haven't felt a need to invest out of necessity, only when the timing is right.

#YoungBuffett Out!