So the results are in....
The savings account is almost to its first goal of the year of $1,000 emergency funds. The trading account needs its next goals mapped out and I do so here.
In the video I used the term "live" a bit too much so want to be sure everyone is clear about my plans for the Forex trading account.
February: Test different technical analysis tools. Do some test trades.
March: Finish testing and come up with a trading strategy combined with our existing money management trade rules. Further testing done.
April: Reset demo account funds to $1,500. Start with a new trade record of 0 trades, and implement the trade strategy keeping track of trades similar to what was done for the Coin Flip account.
May: Continue testing and refining strategy.
June: Continue testing and refining strategy.
July: Continue testing and refining strategy. If having consistent profit then can go live with real money with the existing Trading Account funds.
As I mentioned in the video, while most of the deposits go into the Investing account there will still be plenty of trading going on.
Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.
EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.
The savings account is almost to its first goal of the year of $1,000 emergency funds. The trading account needs its next goals mapped out and I do so here.
In the video I used the term "live" a bit too much so want to be sure everyone is clear about my plans for the Forex trading account.
February: Test different technical analysis tools. Do some test trades.
March: Finish testing and come up with a trading strategy combined with our existing money management trade rules. Further testing done.
April: Reset demo account funds to $1,500. Start with a new trade record of 0 trades, and implement the trade strategy keeping track of trades similar to what was done for the Coin Flip account.
May: Continue testing and refining strategy.
June: Continue testing and refining strategy.
July: Continue testing and refining strategy. If having consistent profit then can go live with real money with the existing Trading Account funds.
As I mentioned in the video, while most of the deposits go into the Investing account there will still be plenty of trading going on.
Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.
Hi,
ReplyDeleteVery interesting blog, you inspired me to start saving and investing for my early retirement through dividend growth investing. I'm 21 years old, and my ultimate goal is to be able to retire when I'm 32.
Your blog gave me some good insights and good tips to help me start my own journey and I'd like to thank you for that.
Good luck in the future, I will be following this.
Kind regards,
Bo.
Wow. I wish I had started consistently when I was 21. I tried but was on again off again with contributions. Thank you for the kind words.
DeleteI believe this blog is brilliant and inspirational. This is living proof that it really doesn't take much to start an income-generating portfolio.
ReplyDeleteLike the user above me, I'm also young and want to share my knowledge with others.
-Jason
http://investing-early.blogspot.com
Thanks for your valuable thoughts on investing. And good job on almost reaching your savings goal for the year!
ReplyDelete