Tuesday, May 20, 2008

How Real Money is Made! IFCN Wk 24 -Tue- Equity: $697.89

Here is a great story of how money is made:

A young man asked an old rich man how he made his money.

The old guy fingered his worsted wool vest and said, "Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel.

"I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents.

"The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5:00 pm for 20 cents. I continued this system for a month, by the end of which I'd accumulated a fortune of $1.37."

"And that's how you built an empire?" the boy asked.

"Heavens, no!" the man replied. "Then my wife's father died and left us two million dollars."


It is easier to make an empire when you start with $2,000,000 dollars than $500.

If you learn how compound capital starting with just $500-- when you come upon some REAL money, you too can build an empire with it.

Just a thought!

We finally got stopped out of the short FirstStrike Gbp/Jpy trade. We got short @ 203.24 and got stopped out at 204.14 for a total loss of 90 pips.

I wasn't surprised, since the trade never was more than marginally profitable at any time.

It does make the week shorter. Now there are no potential trades until Friday.

Have a good week!

Current equity is $697.89.

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: newsletter@infiniteyield.com and tell me to which address you would like it sent. Please do not use AOL or Yahoo addresses. Nothing personal, but they've been known to filter out more good mail than actual spam. Try a Gmail address. It's free, simple and perfect for traders!

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