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!

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. 

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

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."