Sunday, February 24, 2008

Woody Allen said - 90 percent of life is just showing up- IFCN Wk 11 -Fri- Equity: $486.25

Woody Allen may not be a trader, but he knows the right ingredients to success.

We had another week with 5 FirstStrike losses.

There was some fairly decent action at the beginning of the week, but no follow-through. Perhaps next week.

The business of trading is more mental discipline of taking trades than nearly any other factor. Plus decent money management when you actually get your trade executed.

One ultimately makes money trading by having on a correctly-sized position when the winners show up, which they inevitably do.

WE have to show up BEFORE they show up!!!

This week's Alpha account trading recap:
Start of week equity: $508.87

Completed FirstStrike trades:

Eur/Usd: short @ 1.4631 -stopped out for a loss of 60 pips
Usd/Chf: long @ 1.0995 -stopped out for a loss of 60 pips
Usd/Jpy: long @ 108.30 -stopped out for a loss of 60 pips
Gbp/Jpy: short @ 211.14 -stopped out for a loss of 60 pips
Gbp/Usd: short @ 1.9575 -stopped out for a loss of 60 pips

Total of 300 pips in losses.
Total of 0 pips in profits.
OneNightStand Exit(s) on 02/18/07 :
OneNightStand 02/22/08 entries:
Short Usd/Chf @ 1.0865
OneNightStand losses: None
Unrealized P&L: $ 1.85
End of week equity: $ 486.25 (includes unrealized P&L)
Total Gain on Week: $(-22.62) (4.4% decrease)

See you Monday!

Joel Rensink

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: and tell me which address you would like it sent.

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