In this Forex blog I will take a REAL trading account of relatively insignificant size: $500.00-- and trade it so as to make it grow at a rate of more than 50% annually. The goal is $150K..., in significantly less than 10 years. Watch this blog for the volatility in return that is inevitable when a professional trading account is traded for serious capital gains. Follow along or just watch.
Tuesday, December 18, 2007
Last Equity Check- $516.42
I received another email today from a reader about FirstStrike:
FirstStrike looks very similar to an idea I saw on the ForexFactory.
Although I haven't booted up my backtesting software to investigate it
yet, the approach certainly 'feels' robust.
Reply:
I have shared FirstStrike with a number of professionals over the last 10 years. I have no doubt the concept has found its way to ForexFactory or other forums.
I read your latest blog entry last night and enjoyed it. One system specific question, are you applying FirstStrike entry signals ONLY on Mondays?
Reply:
Monday's only, unless Monday is some sort of major holiday. Then we use Tuesday's open.
Secondly, in terms of backtesting, did you use intraday data to create the stats?
Reply:
As necessary. I haven't had to backtest it for more than fifteen years. I have been making money from it! Of course, I have tested it (with daily and intraday data) concurrently with my trading to verify its edge. Nothing has materially changed in 15 years. Actually, the British Pound has gotten better in the last 5 years. I'm only showing people what tendency exists. Please feel free to adapt or change whatever you want. All traders do that sooner or later.
Joel Rensink
www.infiniteyield.com
PS: To receive the FREE! trading rules for the Infiniteyield Forex Challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: newsletter@infiniteyield.com and tell me the address you would like it sent to.
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