Happy New Year

Happy New Year to all! Young Buffett will be strong in 2015. Keep an eye out on Sunday for weekly trading updates! I am looking forward to teaching, inspiring, and creating new paths in 2015. 

Happy trading and Happy New Year

#YoungBuffett out

Intraweek Orders

I couldn't get my screen recorder to work properly yesterday when I placed my orders, so I am going to write about them instead.

Let's begin by going over which orders were executed from my Sunday trades. The AUD/USD was executed and within 7 minutes it took profit... giving me a 2.67% portfolio gain. This 7-year plan has one key element... I am not required to make a trade... I am merely required to make the right trades. I only trade when the signals are absolutely perfect.

As for my intraweek orders. Looking at the USD/CAD, I placed a short order at 1.17076 for 5K units, looking for a T/P at 1.16988. This entry order is a perfect split of the R2 and the upper Bollinger Band. This order is my favorite of the intraweek and all indicators point to an execution.

Next up, longing the AUD/CAD, 5K units at .93387 and a T/P at .93457. This order lines up the S2 and lower Bollinger Band perfectly.

I am very excited to be trading in the AUD/USD this week. A buy order placed at the perfect line up up S2 and my lower Bollinger Band (.81087) with a T/P at .80082.

Rather than going through all of my orders individually, I am posting the remaining orders here:

All of these orders are either a split different of R2 with an upper band, S2 with a lower band, or in some of the cases (the best cases) a perfect alignment of R2/S2 with the upper/lower Bollinger Band.

Happy trading. Merry Christmas. I will see you all on Sunday and will definitely be creating a video for that trading session.

#YoungBuffett Out

On track

$100 to $100M in 7 years. Do you think I am crazy? That means I need to average 3.555% a week or roughly .5% a day (5 days a week). For the month of December, I already hit and exceeded this goal. I am currently up 20.68% this month. If you have been following this blog, you know that I will take 50% of anything over my goal and transfer it to a safety account within Oanda... a sub-account. This sub-account will be there as a safety in case I have a month that does not meet the goal. However, I have yet to have a loser yet. I have been correct 94% of the time with my entry orders and have only sold for a profit... I have done this be re-entering a trade at a lower price (or higher depending on direction) and cutting my average cost. This is why I don't put all my eggs on the first trade.

#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.

Micro/Side Strategy

So, while my main strategy is my money maker and is mostly automated... I just need to do a 15 minute analysis twice a week and place some 2 day orders... I have been working on a micro/side strategy. I think I worked out all of the kinks in a demo account and going to see how it does with micro lots (50-150 units at a time). I did it tonight with 11 trades... all of them were correct. Took me 1 hour. I was using such small units that my total profit was about 50 cents lol... but if I were to use larger trades like 1,000 or 5,000 units then we all know that good ole' Uncle Murphy would have come to visit haha.

Anywho, this little strategy is simple. I will be doing a 15 minute demo of it tomorrow on my Youtube channel. So be sure to check that out. I will post the video here tomorrow too.

For those who missed my quick forex overview today, check out the video on YouTube... or watch it below:

Happy trading. #YoungBuffett out.

My Biggest Mistake

So last night before going to bed, I forgot to set up a stop loss on a trade... the EUR/NOK. I woke up this morning to learn a very harsh lesson... very harsh indeed. A 69.5% loss... crushing and heart-breaking. Like the blog says.. forex has its ups and downs. While I just spoke about money management only a few posts ago, I failed to do so. I believe I identified my mistake... obviously no stop loss, but I was trading too many pairs at one time. I have narrowed my list of trading currencies to a smaller number of 13 currencies. I am also going to make narrower trades... meaning all signals MUST line up and I will make less trades but larger trade.

Tough morning. But, in the words of Rocky, "Nobody is gonna hit as hard as life, but it ain't about how hard you can hit, its about how hard you can get hit and keep moving forward, how much you can take and keep moving forward, that's how winning is done."

#YoungBuffett Out

Not Much To Report

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