Wednesday, March 25, 2009

So Far, a Week of Rest! -IFCN WK 68 - Wed- Equity: $3,004.79

Relative rest, that is.

As I am writing this, we got some chaotic action in the currencies and metals.

An unexpected change in home sales and other unexpected revisions in reports made previously scared more people into other currencies-not-the-dollar. Silver, which just an hour before dropped back to touch 13.00 -- suddenly rocketed more than 60 cents/ounce.

A lot of excitement in these markets.

I'm glad we have ways to get aboard and stay aboard.

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I am looking forward to the London Squeeze workshop being held in Las Vegas, Nevada this Saturday.

It promises to be a great time, with attendees from more than 5 countries around the globe.

With the recent volatility in forex, trading a daily volatility breakout method in addition to FirstStrikePlus and ONS has been valuable for equity curve smoothing. Not to mention having additional risk-adjusted opportunities when the market moves like it did this morning.

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The week's current FirstStrikePlus trades:
  • gbp/jpy: Long @ 140.94, stop 138.90. Trade in progress.
  • gbp/usd: Long @ 1.4727, stop 1.4426. Trade in progress.
  • usd/jpy: Long @ 97.77, stop 95.60. Trade in progress.
FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit)
Trading account equity: $1,960.79

Silver position equity: $1,044.00
(Current XAG price: $13.56 – 400 unit position average: $10.95)
TOTAL Equity: $3,004.79

It isn't surprising to have a choppy week after a startling trend week. We'll stay aboard and keep watching.

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:

mihai.costache said...

gbp/usd: Long @ 11.4727, stop 1.4426. Trade in progress

must be a mistake - you mean long @1.4472. Am i wrong?

Joel said...

Long @ 1.4727, stop 1.4426.

Correction made.

Thanks for noticing.

Joel