Not much to report today. I made a tad over 2% today, which is great. Made an extra .1% on trading in favor of interest too! I didn't spend any time tonight trading, I will be placing some orders in the morning after some analysis. I will let you know how that goes.
I am going to be taking off from 11/26 through 12/3 because I am traveling for Thanksgiving. I may still place an order or two, but nothing major at all.
I want to thank my amazing wife for yet another day of keeping me honest to my rules. It is because of her that I "don't loose money" ~Warren Buffett.
#YoungBuffett Out
Showing posts with label interest. Show all posts
Showing posts with label interest. Show all posts
Tuesday, November 18, 2014
Monday, November 17, 2014
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."
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."
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