Not bad at all for a first time out!
I agree that you need to shorten your reins and keep that hand off your horn. It looks like he needs support in his turns too (he's getting front-endy and turning a bit too soon). So use both hands to push him into the pocket where he should be, since you aren't working for speed right now anyway.
Looks like he enjoys it!
Do you think that I might need to put a tie down on him to give him support in his turns or just try using my hands more? He has a habit of sometimes trying to turn a bit to soon because he gets excited!
Also the reason that he stops if he gets to close to the barrel is he is scared of them and absolutely refuses to actually hit the barrel!! I think thats a good thing though. lol