Laid Off

Well, yesterday I got laid off, so I didn't get a chance to make a post because I have been so busy looking for a new job. It is honestly a blessing, now I can hopefully find a job investing for a firm until my personal accounts are large enough for me to just live off of my monthly 25%. 25% of $1M is a lot better than 25% of $10K.

But back to my trading. I have been having a great month so far. Today I made 1.22%, only had a couple of small trades. The USD seems to have stalled out right before the non-farm payroll report comes out tomorrow. I don't typically use economic data as a factor in my trading, but the non-farm report is typically significant.

The big movers I see ending out the week is the EUR/NOK. I know this is an off currency pair for most people, but I love trading it. This pair can move 1500 pips in a single day. While the pips aren't really worth as much, the volatility allows for some great quick profits. I shorted the pair at 8.75500. The pair is 8.73890, so it is heading in the right direction. I have a T/P set up at 8.6745. This will give me a nice little boost in my account.

This week, my biggest movers were AUD/CAD, USD/JPY, GBP/CHF, EUR/USD, and AUD/NZD. I made some other trades that I took smaller 10-15 pip gains for, but all of the aforementioned trades were anywhere from 40 all the way to 100 pips int he AUD/CAD (which I actually rode up 100 pips and back down 40 pips).

This week has been a good one, I am a little above my goal right now, which is a good feeling, but as we all know, the FX market can be unforgiving and I may be up 10% today, but down 50% tomorrow... well lets hope 50% is an exaggeration lol... as long as you practice good money management, you won't have losses like that.

#YoungBuffett Out

Take Profit

Over night some of my trades that were killing me, like the NZD/CHF... but it turned around like I expected. It was hard to let them hold over night being down over 100 pips. I had to not get emotional and just stick with what the charts were reading. Thank God I stayed the course and didn't fear going long (time). I ended up edging out a 1.2% portfolio gain on that one trade alone. Then my EUR/USD edged my portfolio up another 1.1% (I know I said it is going to 1.26 and I still think it is, but I took my profit when I could), for a total gain on the day of 2.312% on my portfolio.

Tonight will be the last limit trades I place for the month before I leave for a vacation. I won't be placing any more trades until I get back on 12/3. But as it stands right now, November gave me a gain of 29.08%! In one month, that is fantastic. Just if I didn't have that dreaded 11/14 day where my portfolio lost 23.08% in one day... but thems the breaks haha. Its all part of the game and I am still net positive, which is fantastic.

How have you all been doing with the wild Yen? Do you think the USD run is over? I am on the fence, I think that the EUR is going to start gaining some more on the USD and definitely think that that the USD will start losing some ground against some of the other major currencies... I hope I am wrong, simply because I like when the USD does well because my stocks go up :)

Anywho, that is all for the day, I woke up to a few nice notifications on my phone of Take Profit. Here is my month, the last few days are flat because... well we haven't gotten there yet, so the graph is using data from my current portfolio standing:

#YoungBuffett Out

Thanksgiving Week

Thanksgiving week is a half week for me. I will be leaving town on Wednesday morning with only a couple limit orders placed with small TP margins... just be looking for a 10 to 15 pip jump while I am gone. Buuuut, the first few days of the week I am keeping my eye on the GBP/USD. It has been bouncing off of that lower Bollinger Band for a few weeks now. I am thinking there will be a large bullish trend. I am setting a limit buy for 1.55876 and a TP at 1.59500. This will be a long move for the week for me. I like to balance my week with about 30% long (time wise, not long in the buy/sell sense) trades, 50% day trades, and 20% mid trades (2-3 days).

I also have my eye on the EUR/USD. I bought in long at 1.23927. It is down a couple pips right now, but I expect a bullish run into the low 1.26 range, I did have a conservative TP at 1.25, a whole 100 pips or so lower than my expectation, but I changed it today to a 1.26 TP order. I really see a long position that will pay off.

The AUD/CAD has been bouncing for three weeks now. Up and down, leaving it almost neutral over a three week time. I think it will drop a little more to .97054, if it does, I will pick up a bullish position to run to .9788. It will be a decent 83 and change pip move.

If the EUR/AUD drops to 1.46742 I will sell it short and look for a bearish run to 1.4424. this 250 pip run is very reasonable I think. I think if it hits the 1.46742 mark, it would take a week tops to drop 250 pips. Honestly, it could happen in 2 days I think.

The SGD/CHF was a nice ride for me last week. I bought long at .7353 and rode to .7400. It is now at  the .7460 area and I see a continual bullish run. I have a limit buy at .73891, which probably won't hit because it is so far below where it is right now and I do see it continuing to rise, but I don't want to risk that much when you can only margin 20:1 on that pair.

Now the AUD/SGD is a fun pair to trade. The Bollinger Bands, pivot points, and the SMA, WMA, EMA all point to a decline... at least that is what I see. I am setting up a limit buy on the pair at 1.10185 and looking for a 225 pip run up.

I am also setting up a limit buy for the AUD/CHF at .82122 looking for a 100 pip run on that one. I don't think it will get picked up this week. The pair is relatively flat and the bands and points show it staying flat for another week or two. Again, the way I read it.

HOLY COW, can we just look at the AUD/HKD for a moment. The bands are SOOOOOO wide. It doesn't know what to make of the pair. The pivot points are all in the lower channel too, so I don't know what to make of it. I will set up a limit there... a buy at 6.6 with a run to 6.9. This one definitely won't hit this week, but I shall see.

EUR/NOK, limit sell at 8.54187, looking for a bear movement to 8.5 flat.

EUR/NZD... it can be expensive on the long trade, but if it drops to 1.55602 I will buy it long to 1.56799. If it happens to spike up to 1.62461, the R3 pivot point, I will short it to 1.60552. Shorting this pair is nice because it actually pays a pretty decent interest rate per day... but longing it can cost you, so if you do long it, make sure you are positive you will make a nice movement on it.

The NZD/HKD pays a great interest rate on a long trade. So I am setting up a limit at 5.91343 and going to ride it long for 1,750 pips (really not a lot for this pair).

Where I am currently getting some pain is in the USD/CAD. I am about to hit a stop-loss there. I bought in at 1.13485. I have a TP set at 1.1376. For how much I have lost, I might cut the loss tomorrow when the markets open. The loss is not even worth the small gain. IDK, I am up in the air with this one.

The ZAR/JPY, USD/JPY, TRY/JPY, CAD/CHF, CAD/JPY EUR/HUF (took it off my radar completely actually), and GBP/CHF... are all positions I am staying away from this week. They are way above their Bollinger Bands and their pivot points, so I will wait for them to neutralize. Honestly, the JPY has been fucking crazy lately. Pardon the French, but its so true. It has dropped sooooooo much. It is 2004 all over again. Maybe a new George Soros will rise from its ashes... maybe it will be me :).

So this is a long post with a lot of data, but I think it is all good stuff. Some may not agree with some of my limit order or even some of the ways I read my tables, but most people thought Warren Buffett and George Soros were fools too.

-The World Goes To The Doers
-You miss 100% of the shots you don't take.
-If you don't have haters, then you doing something wrong.

#YoungBuffett out

EUR/USD

My bearish EUR/USD inclination panned out today with a large crash. I am happy about that drop. I am not taking up a long position that, based on my calculations should start a bullish trend topping out around 1.255. I am setting a take profit at 1.25. Should be a healthy week long gain and give me a 12% weekly gain on that one trade alone... again this is all based off of indicators and calculations I have done, I do not account for world news... I find it never really helps me... maybe something I should work on haha.

This month is about over for me, my last day of trading will be Tuesday because I am going on vacation, but already I am up over 25% for the month and hope to repeat that again next month. This month I didn't think I would pull it out with two days of double digit percentage losses. But... God is great, my wife is amazing, and my strategy is working.

#YoungBuffett out... see you next week

Morning Orders and the EUR/USD

So the EUR/USD has become bearish. I was expecting it to dip slightly lower before becoming bearish. I will hold it a tad longer, hoping for a quick and strong bullish trend. I may be grasping at air though haha. Stop loss is getting awfully close. I do have a limit buy at 1.24 and expect a bullish climb to 1.25. (For those new to trading, either stocks or forex, check this out to learn what bullish and bearish mean.) I promised no technical on this blog, so that is the simple of it. If you want my reasons, feel free to contact me (see the contact me form on the right).

As for my other orders, I have a couple new ones I placed today. I place all my orders as limits, so I placed a ZAR/JPY, TRY/JPY, AUD/HKD, and EUR/AUD. I will place a few more later today, probably around 6 or so...

#YoughBuffett out