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!

A New Week

Today starts a new week in the Forex Market. There is a lot I am looking forward to this week. My friends over at DailyFX are a true help when it comes to getting up to date information on the various markets. There is going to be a lot of news this week on the EUR, GBP, and USD.

For me, Forex trading is a Monday through Friday thing, but I love to do some trading on Sundays too. Sundays are the cherries on top of my sundae... meaning I don't plan to make any money on Sunday, but I typically make .5-1.5% and it is a nice little way to start a week strong.

Over the weekend I gave my plan a major overhaul. I was originally shooting for 2.5% a day. I was beginning to feel stressed and constantly watching the markets. SOOOOOOO, I decided to change my plan to a tad longer term... 72 month plan, making 25% a month (which I have done for 3 months consistently, actually made more than that). This will put me at a $100 million account with time to spare.

The other change I made is I am taking up a few longer positions. Rather than only day trading, I am also picking up trades I am holding for sometimes three or four days. BUT! I am only taking up these trades IF I will be making money on the roll (FXCM) or interest (Oanda). I do wish Oanda didn't make me calculate the interest, I like how FXCM just shows it in the trading portal.

My wife continues to keep me to my specific rules, which is amazing! I love her to death!

At this rate, my $224.25 will be $100,000,000+ in 59 months. 25% is conservative, at least for my method. My plan has been working, I will just stick to it, making slight adjustments along the way (like taking up some longer position to hedge and make interest).

#YoungBuffett Out

PS - I came up with a new hashtag today. I discovered that #WorkIsForPoorPeople. If you love what you do, you are not working... or if you can retire young, you are just enjoying life. So, do what you love and remember, make money... don't lose it, or as Buffett says, "Never Lose Money."