Wednesday, July 9, 2008

Learning to Trade Isn't This Hard! --IFCN Wk 31 -Wed- Equity: $712.44

Being a successful trader requires being tough enough to take regular adversity, keep persevering with your efforts so as to come out the other side victorious.

So, I'm typically the champion of determined people. No one can succeed at anything difficult or important without persistence. But sometimes you hear about extremes that just make you wonder.

Here is a link to a story about a woman whom I'm confident will never be our competition in the Forex market.

This 62-year-old woman has finally passed a driving test - 27 years after her first lesson.

She went through 20 different driving instructors, tens of thousands of dollars and months of time in training over the decades. Mrs. Clarke also failed 12 tests, cancelled 35 others and had 50 mock exams. Check it out if you dare.

"You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time."
-- Abraham Lincoln --

A corollary of that statement indicates that there must be a lot of fools available almost all the time.  Evidence exists to support this.

For example:  the concern of “Global Warming”.

Universally validated extremes in earth's climate over previous thousands of years precludes any “chicken-little” leaps of concern. A degree here or there increase in a decade doesn't make “Global Warming”, any more than in the '80's did it make for the heralded “New Ice Age” because temps dropped a degree or two in previous decades.

But, there are those who profit from rabble-rousing, and have gotten people stirred up. (obviously, "some of the people all the time.") See the picture below--

This is something you're not going to see anywhere else! I like cows and am embarrassed for it. I don't even want to know how the tank operates. All because some feeble-thought starts insisting that the “sky is falling”.

Here's the story.


We're still long the Eur/Usd and mildly profitable.

The following is this week's remaining FirstStrike entry:
Eur/Usd: long @ 1.5691, stop 1.5631. Trade in progress.

Note: Any FirstStrike trade not stopped out before Friday gets exited on Friday just before 15:00 CST.

Current equity is $712.44.

Have a good evening. See you tomorrow.

I'm still thinking about that poor cow.

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 to which address you would like it sent. Please do not use AOL, Yahoo or Hotmail 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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