Monday, September 15, 2008

Recent Reader Responses!---- Sept. 15, 2008

Here are a small illustrative group of emails I've received since the middle of last week.

Hi Joel,

The last 2 weeks have been pretty interesting for
First Strike, with big swings and substantial

I have not been able to resist the temptation to
lock in some profit. After having had so many
losses until recently, I decided I wanted to
avoid some and lock in a profit (even if only 1
pip). Thus I have been trailing from being in
profit of around 2 x stoploss, which is a lot
earlier than you suggest.

My results over the 2 weeks combined have not
been too bad though:

my profit................. 'official' profit
w/c 1st + 30............. +758
w/c 8th +1064......... +418

I must admit, that I didn't feel so good about it
a week ago.

I may go back to letting the trades run, or
perhaps with your -50% trail now that the net
balance is looking better.

All of this really goes to prove that trading
success is much more down to one's emotions than
one's method.




Hi Joel,

I really enjoyed your Silver entry on your blog, thanks for that.

I have a small savings account for my daughter and I told my wife a while back I'd like to periodically exchange cash for silver coins for her account. I was initally put off by the large difference between the value of the commodity and the actual prices that silver coins go for.

So basically you are saying that's the way it will always be so that when silver goes back up the real value of the coins will continue to out pace at that same disparity? Then it makes total sense to buy some silver coins, the Eagles look really nice too.

Best Regards,

Xxxxx in XXX


Hi Joel,

Thanks for all of your help. I have learned more in the three months that I have been reading your blog than in the past year of reading all types of books and websites on trading. I have had good success with FirstStrike and OneNightStand. With your hints, I have been able to devise a money management system that helps increase the profitability of FirstStrike. I have decided to take your silver hint after doing some reading on silver. I put a limit order long at $11.00 and a sl of $8.00. Using the .01 per pip on OANDA. After reading about silver, I really see how it is underpriced right now.

..., Also, trading FS and ONS for the last 3 months has increased my account 59% and gaining!

Thanks again,

Xxxxxx Xxxxxxxxx


Hey Joel

Thanks for the tip on silver. I've been studying a little about silver since I met with you and the general consensus seems to be that when silver rises, it does so in greater multiples than gold. Of course I know that you know that. I've read a little about the reasoning behind it--industrial uses etc.. I'm buying a little whack of silver.

My infinite yield account is up 78% since Sunday--still holding and nothing on the charts has me second guessing. The big gain came from adding onto Geppy without increasing the risk by much. Chalk one up for the good guys!

Happy Trading--


Thanks, everyone, for all your comments and interest in the site.

If I can answer a question you have, I will. I am usually pressed for time, so my answers may not be big.

Yes or No questions are definitely a plus!

Joel Rensink

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