I've been up to other stuff and neglecting this thing again, but I'm hoping that in the weeks ahead I'll get back on a regular blogging schedule. Starting a new life in a new town can leave one's online life on the back burner.
Work continues to be work, but it has taken on a whole new lucrative twist since I got to Walla Walla. Basically, the whole town (and surrounding area) is a gold mine that's all mine to mine (mine! mine! mine!) - a funny way of saying that through the establishment of new business contacts and pest control accounts, I can really boost my income. Just have to find those accounts...
Part of boosting my income is still my forex trading, though I think I may have to describe it as "forex investing" instead. Basically, I've settled into an extremely hands off, mechanical method of approaching forex. I simply pick up a currency pair (long or short) that will get me the highest interest rate possible, I use 10% of the deposit balance of my account, and I make additional purchases to keep the "in play" portion of the account equity at 10% as interest piles up daily. If I log in and find that the value of the trade is more than I would receive in interest in a 24 hour period, I cash it out and immediately reopen the currency pair with 10% of the account (including the profits, of course). So far this has led me to go short the U.S. dollar and long the Turkish new lira, which results in a positive 12.5% interest rate. I make purchases during the London/New York session when the USD/TRY spread narrows to 9 pips (Oanda), so I pretty much only do anything with my account once each morning. Since I started doing this a little less than one month ago, my account is up by 20% inclusive of capital gains and interest.
I'm keeping two forex accounts right now, actually. The one I've described above is now dedicated to two things: wiping out my remaining credit card debt and the purchase of a 50" plasma HDTV (otherwise known as, "the reward"). The plan is to build the account until its value is equal to that required to accomplish these two things, at which point I'll draw it all out and do them. I will then start this process over again with the aim of knocking my mortgage down to the point where I can dump my primary mortgage insurance, which would lower my payment by about $90 per month. After that, my student loans...
The other forex account is what I'm calling my "perpetual fund." Money goes in there, capital gains and interest stack up, and it all stays in... for now. The plan is to eventually grow this account (following the methodology described above) to the point where some percentage of the interest and/or capital gains provide me with enough income to live on as a primary goal, with perpetual growth of that income beyond that point as the secondary, open ended goal. It is a very, very tiny fund right now, but it is growing daily. I've been running it just two weeks with only the initial deposit amount for this project, $48.90, but it's already up about 7% at $52.34. I'm going to keep adding additional funds to it, 25% of bonuses that I receive and 25% of discretionary funds left over from paychecks. The benchmark for tapping into the income it produces won't come for a very long time, so I'm not bothering to come up with one right now (since the reasoning behind anything I name now will probably change by the time I reach that mark).
Other than this stuff, I've got a new kitten running around the condo. My cat, Figaro, has been crying a lot and I knew he was bored. He almost flung himself over my balcony one evening when he saw a strange cat wandering by, so I knew I needed to get him a feline social life. I went to a local cat rescue shelter and adopted Rose, a six month of female tabby. It took about seven hours of introduction and acclimation between them, and then the playing began. Success!
Alright, now that I've breathed a little life into this blog, it's time for bed. A wide world of capitalism awaits me in the morning!
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