Monday, October 20, 2008

Sometimes the Best Position Is.... -IFCN Wk 46 – Mon – $1,283.01

a small position....

Smaller positions with larger stops are best when markets are this fluid. This was a good week to start trading FirstStrikePlus.

After this morning's open (Monday) at 00:00 CST, there were no OneNightStand trades to exit. Just the new entries for FirstStrike Plus. If you haven't already, download the volatility-adjusted ruleset here --

Here are the IFCN entries for this week's FirstStrikePlus trades:
  • Eur/Usd: Short @ 1.3367, stop 1.3538. Trade in progress..
  • Gbp/Jpy: Short @ 174.07, stop 178.65. Trade in progress.
  • Gbp/Usd: Short @ 1.7193, stop 1.7452. Trade in progress..
  • Usd/Chf: Long @ 1.1401, stop 1.1302. Trade in progress.
  • Usd/Jpy: -No trade yet-

FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit) See complete ruleset for effective trade management.

Current trade equity is: $1,237.01

Silver position equity: $46.00
(Current XAG price: $9.96 – 100 unit position average: $9.50)

TOTAL Equity: $1,283.01

Placing your orders may take courage, but that is the only way you will be able to profit from these extraordinary moves.

I'm sorry I haven't been able upload these posts as timely as I would have preferred. Business has had to take priority. There have been many funds needing technical assistance over the past weeks, with me captive on the phone for most waking hours.. I don't particularly enjoy this part of the market fallout.

See you tomorrow.

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, Hotmail or Yahoo addresses. 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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