Wednesday, November 26, 2008

Think and Prosper! -- IFCN Wk 51 –Wed- Equity: $1,675.49

Thinking is obviously not popular today. Just a glance at the world's financial climate makes that clear. Now, most people are rewarded for following others' instructions, not their own thinking. That's fine if you are making a burger but not good when you are making financial decisions that ultimately impact the wealth of billions of others.. Tipping a 20 ton balanced boulder off a mountain top onto a village below – just because it won't hurt you personally and you think it will not really hurt anyone..., is irresponsible

God only knows where most of the instructions come from which people in business follow en masse. Typical business strategy is more a function of crowd behavior than anyone sitting down and really thinking about what is REALLY going on. Example: look at the ever present popularity of “buy and hold” strategies which get so many people into trouble when markets slide.

Trading correctly frees your time to think and actually feeds and encourages the thinking process.

Most who have followed my Infiniteyield Forex Challenge are aware that I am fond of tomes from Nassim Taleb because his clear thinking about risk – which is what this trading business is all about. Understanding risk better than the majority will make it possible for you to profit better than the majority. It is as simple and as complicated as that.

Watch this video--


The week's current FirstStrikePlus trades:
  • gbp/usd: Long @ 1.5126, stop 1.4759. Trade in progress.
  • eur/usd: Long @ 1.2742, stop 1.2585. Trade in progress.
  • gbp/jpy: Long @145.49, stop 141.39. Trade in progress.
  • usd/chf: Short @ 1.2062, stop 1.2225. Trade in progress.
FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit)

Trading account equity: $1,495.49

Silver position equity: $180.00
(Current XAG price: $10.30 – 200 unit position average: $9.40)
TOTAL Equity: $1,675.49

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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