Wednesday, December 12, 2007

Forex shake and bake!

Hi everyone:

This week has been very tumultuous. The Fed has made adjustments twice and people are trading their own beliefs and very few have been outright winners.

The Alpha account has been body-slammed more times this week than a typical bout of Jesse Ventura's (another native Minnesotan).

After having a number of significant stopouts, an equity low of $477.55 and an equity high of around $518 after the report today, the account has a current equity of $505.63 at 2:13 PM CST.

  • The short USD/CHF at 1.1148, got stopped out at 1.1205 for 57 pips.
  • The short USD/JPY at 111.26, got stopped out at 111.81 for 55 pips.
  • The long GBP/JPY at 227.71, got stopped out at 227.12 for 59 pips.

We are still long the EUR/USD @ 1.4695 and the GBP/USD @ 2.0379, with the market just quivering in a flag.   

It will be interesting to see how the week turns out!

Have a great day.

Joel Rensink

PS: To receive the FREE! trading rules for this challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: and tell me the address you would like it sent to. Best wishes. ---I'll never send you any spam!

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