Tuesday, December 2, 2008

Challenge Account- 226.3 % Gain after 1 Year! -- IFCN Wk 52 –Mon- Equity: $1,631.75

Some would be beating their chests after a great return like I experienced with the Infiniteyield Forex Challenge account this past year. I'm not. At least not very much. I've had great returns before, and less wonderful returns too.

I happen to know that this year we've had some very significant events contributing to the gains, major financial shifts that don't get repeated that often. Also, the methods I used to obtain the year's end results tend to work best when the rest of the world gets surprised. It will be hard to surprise the whole world again until things calm down a bit.

If any of you following this site have had similar (greater/lesser) success following these methods, feel free to drop me an email. I'm happy for anyone to make profits in these dangerous financial markets, and have no doubt that more people following robust methods – such as highlighted on this site – will improve the chances for a private trader's profitability.

Hearing about your positive results might assist others to eventually take action and improve their own trading. Some think that I'm just "lucky". I would disagree with that general characterization. I have been "lucky" to find out that you can improve your "luck" by being ready to trade in the correct directions over and over.

Here's last week's recap:

The data below is as of the open of Monday, Dec. 1, 2008: (00:00 CST)

Equity from last Monday's open: $1,493.55

OneNightStand Exit(s) on 11/24/08 :
Total ONS Profits: $ -0-

Monday's FSP exits on 12/1/08:
*Gbp/Jpy: Long @145.49, exited at 1.4618 for 69 pips profit.
*Gbp/Usd: Long @ 1.5126, exited at 1.5353 for 227 pips profit.

FSP closed trades week of 11/24/08 through 12/1/08
*usd/jpy: Short @ 95.39, stopped at 96.59 for 120 pip loss.
*usd/jpy: Long @ 96.59, stopped at 95.05 for 154 pip loss.

Current FSP trades:
eur/usd: Long @ 1.2742, stop 1.2585. Trade in progress.
usd/chf: Short @ 1.2062, stop 1.2225. Trade in progress.
Current FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit) If not exited will be held until profitable on a subsequent Monday's open, stopped out or reversed by next week's positions.

OneNightStand 11/28/08 entry(s):

Current FSP/ONS trade equity is: $1,467.75

Special Silver long position:
Silver position equity: $164.00
(Current XAG price: $10.22 – 200 unit position average: $9.40)
Weekly total XAG position equity gain: $128.00

Total Gain for Week: $138.20
(9.2 % weekly increase)

Now on a completely different note:

At the moment there is an extremely serious issue taking place north of the American border. Quite literally, there is a coup d'etat under way in Ottawa. (http://smalldeadanimals.com/) It may not interest many Americans because they never hear much about Canadian news. (Or for that matter – little other news than the latest about Angelina Jolie & Brad Pitt) The situation is very strained, but when fear reigns because of economic instigation, people react, and usually react badly.

It should concern any and all democratic lands, because if the bastards in question succeed it will only further chill financial markets we already have to handle with warm kid gloves. (search: coup d'etat Ottawa – in Google for both side's opinions. It isn't good!)

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, 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!

1 comment:

MarcoA said...

Congrats and thank you for the clear consistent documentation of your year. Just observing has been educational.