Thursday, January 8, 2009

Best Wishes to All for the NEW YEAR-- IFCN WK 57

It is important to take breaks. Next time I'll try to give some warning. Thanks again to all the well-wishers who wrote to me.

Good to be back-- and especially in a year that shows so much promise.

When you have so many markets which are pushed to extremes, the resultant reactions that are inevitable to compensate-- create incredible opportunities for breakout traders who have the courage to stick with their methods. I suspect we will be part of a small group who will profit handsomely from the future forex movements.

A quick update on this week's action. This has been a particularly profitable week, much more than I would have expected.

The week's current FirstStrikePlus trades:

  • eur/usd:Short @1.3737, stop 1.3947. Trade in progress. 70+ pips
  • gbp/jpy: Long @134.63, stop 132.75. Trade in progress. 350+ pips
  • gbp/usd: Long @ 1.4617, stop 1.4434. Trade in progress. 550+ pips
  • usd/chf: Long @ 1.0927, stop 1.0735. Trade in progress. ~10 pips profit
  • usd/jpy: Long @ 92.80, stopped at 91.73 for a 107 pip loss.

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.

Current XAG price: $11.15

It will be very unlikely for OneNightStand trades to be executed tomorrow due to the current large distances from entry points. That's OK. We'll have some great opportunities in the near future.

Meanwhile- we can be ready for the FSP trades next week.

I'll post the last few week's trades tomorrow.

Have a good evening

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!

1 comment:

Jason6300 said...

Glad to have you Back!