Thursday, March 19, 2009

Milestone Equity High- 500% Increase! -IFCN Wk 67 - Thu- Equity: $3,001.25

We had continued good success today with the dollar falling even more against every major currency and silver and gold.

Oil jumped past $51/barrel. The financial world is beginning to realize, as we have for many months-- that the greatest inflationary environment in human history is being unleashed.

Just wait until the hedge funds get some money passed back to them.

The dollar fell for a second straight session and the Eur/Usd easily cleared $1.3700 as traders finally see that massive purchases of U.S. Treasury debt can only do one thing – dilute the world's reserve currency to historic lows.

Recommendation:
Buy silver.
The actual physical metal, and take personal possession. Now! (If you haven't read the post about $3.00 Silver Here Again.... click this link)

If you are not going to buy it now, when were you planning on doing it? When it is $30/oz. and you have even less capital available?
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FirstStrikePlus is performing very well this week. Despite the Gbp/Usd loss early in the week, at least 3 of the trades are making great strides, the long Eur/Usd, short Usd/Chf, and short Usd/Jpy.

The beauty of FSP is when you have a trend week you can profit on the extreme directional moves, but if you get stopped out of a position it is for a relatively small fixed amount. The exact definition of trend trading in a microcosm.

The week's remaining FirstStrikePlus trades:
  • eur/usd: Long @ 1.3020, stop 1.2859. Trade in progress.
  • gbp/jpy: Short @ 135.48, stop 138.54. Trade in progress.
  • usd/chf: Short @ 1.1713, stop 1.1928. Trade in progress.
  • usd/jpy: Short @ 97.16, stop 98.57. Trade in progress.
FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit)
Trading account equity: $1,945.25

Silver position equity: $1,056.00
(Current XAG price: $13.59 – 400 unit position average: $10.95)
TOTAL Equity: $3,001.25

So we've hit a new landmark high, exceeding $3,000.00 for the first time on a post. That is more than a 500% return in the last 67 weeks, or 389% annualized. So far the Challenge account is definitely exceeding my intended 50 – 75% returns by a large margin.

Maybe we are overperforming. Maybe we aren't. Extreme times can create extreme profits - if you actually take the trades.

The week isn't over yet, though. We could have some reaction after the sharp moves of the last few days.

If we have any OneNightStand trades for Friday, it will almost certainly be a long Eur/Usd or Gbp/Jpy. The other pairs are way out of range, and if they were elected would be low probability performers.

See you tomorrow!

Joel Rensink
www.infiniteyield.com

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!

2 comments:

robertmc said...

Congrats on the 500% milestone! Very impressive. Have you thought of releasing an excel spreadsheet showing all the trades?

Joel said...

No I haven't.

Perhaps someone else has already done it.

Good idea.

Joel