Wednesday, December 3, 2008

FirstStrike Plus Is on a Roll! -- IFCN Wk 52 –Wed- Equity: $1,568.34

As the currencies have little strength this week, the short Sterling, and Sterling/Yen trades are doing quite well. Amazingly the short Usd/Jpy and short Usd/Chf are doing ok too. As this group of specific trades rarely profit at the same time, it will be interesting to see which, if any, remain profitable by the beginning of next week.

While the FirstStrike trades increased in value, the XAG dropped in value somewhat. Still, we had a little gain today.

There is a lot of hand-wringing going on the TV financial shows. Nassim Taleb was on the “Charlie Rose” show tonight. He was not at all positive about the world's stock markets recovering after the severe drops endured. But at the same time he believes incredible inflation will take place. Very interesting!

The fact that there is so much doom and gloom predicted may, all by itself, stem a lot of the feared reactions. The idea that corrections should and already do take a lot less time than they used to-- was also discussed by Taleb.

Either way, we are living in interesting times and will likely have the chance to continue profiting from the indecision of the masses. But not if you don't take the trades.

The week's existing FirstStrikePlus trades:
  • gbp/usd: Short @ 1.5149, stop 1.5420. Trade in progress.
  • gbp/jpy: Short @144.02, stop 146.90.Trade in progress.
  • usd/chf: Short @ 1.2062, stop 1.2225. Trade in progress.
  • usd/jpy: Short @ 94.38, stop 95.51. Trade in progress.
FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit) See complete rule-set for effective trade management.

Trading account equity: $1,548.34

Silver position equity: $20.00
(Current XAG price: $9.50 – 200 unit position average: $9.40)
TOTAL Equity: $1,568.34.

I've received a number of emails concerning the profitable results obtained by readers and followers of the methods followed on this site. With the permission of the writers I will publish a number of them tomorrow. The lessons they've proven should be of help to others who want to have an edge in forex and monetize it properly.

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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