Infiniteyield Forex

2011 - A Nasty Trading Year for Forex Traders - Infiniteyield Forex Challenge Account:$34,183

2011-12-20T17:20:00.000-08:00

I've had a very tumultuous year in trading, and so has the Challenge account. Not bad, but tumultuous. tu·mul·tu·ous adjective 1. full of tumult or riotousness; marked by disturbance and uproar: a tumultuous celebration. 2. raising a great clatter and commotion; disorderly or noisy: a tumultuous crowd of students. 3. highly agitated, as the mind or emotions; distraught; turbulent. Yes, it

The Infiniteyield Challenge account is now at $26,522.00

2010-12-31T21:32:00.000-08:00

It has been an incredible year for the Infiniteyield Forex Challenge.I've had a number of you call me recently and ask how well the account has been doing because you've been doing well yourselves -- thanks for the calls and interest. I figured I better post the year's results before the coming of the new year in a few hours.In the 159 weeks since I started the $500 Challenge account with Oanda

Now--- 2090 % increase since December 2007

2010-09-23T19:42:00.000-07:00

A hearty hello to the most determined traders I've ever known. I have no doubt that some of you thought I would never post again.I've been busy trading, traveling to Chicago and other cities for consulting with hedge funds..., but mostly trading. Because of the tremendous move in silver over the last month – we have again hit new equity highs. The Challenge account shows a 2090 % increase since

1185 % increase since December 2007

2009-09-07T08:59:00.000-07:00

I'm glad to have a chance to make an update. Sorry about my long absences. But, trading is what I do for a living and when duty calls..., it usually takes the form of an early morning Eur/Usd or coffee trade.This year has been one of my busiest and most personally profitable. Last year was terrific for me in my personal trading - especially the last half - so this year is a unsuspected bonus.

Markets Finally Coming Back to Life!

2009-08-31T23:40:00.000-07:00

Like many who read this blog, I save key thoughts and phrases I find over the years. I write them down when I find them in periodicals, old books, and sometimes even the internet (usually a poorer place to find brilliance in print). I found the following missive yesterday going through 5 year-old trading records. I had

Free Markets Benefit Man Best!

2009-06-30T23:57:00.000-07:00

Most people are not aware of how difficult it is to trade systematically. At first it may not seem like such a big deal, but after you do it over a long period of time, and you see the markets move counter to your method at times that you "just knew they would" ..., you start wanting to deviate more.Market Wizard Bill Dunn - Below are links to two great videos with a man who has had serious

Trading Review

2009-05-31T23:55:00.000-07:00

The last month has seen spectacular results.The trading review is coming....

NFP day-

2009-05-07T23:53:00.000-07:00

Two economists meet on the street.One inquires, "How's your wife?"The other responds, "Relative to what?" -----Thoughts specially for traders who've been in the battle for the last few weeks:"Genius is only a greater aptitude for patience."--George-Louis Leclerc de Buffon ('Buffon's needle problem' came from him, he is one of few Frenchmen I've appreciated.)"The two most powerful warriors are

Fibonacci and Inflation! -Thursday, April 30, 2009

2009-04-30T22:50:00.001-07:00

I was sent a very interesting link from a trader buddy who agrees with my long-time-held assessment that super inflation is on its way, whether anyone wants to believe it or not.This is the beginning of the FIBONACCI SEQUENCE: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, ... I'm sure most of you who have heard of Fibonacci's sequence probably think it's main application is in price

April 13 - 20 recap

2009-04-23T23:51:00.000-07:00

Last week's recap--

Letters from Readers! - IFCN WK 71 -Thu - Equity: $2,635.76

2009-04-16T10:14:00.000-07:00

We've had a lot of swinging in the markets, mostly negative to my equity since posting earlier today.XAG took it on the chin again. The Gbp/Usd dropped as did the Eur/Usd. In general, the market is listless. I'm glad the weekend is coming.I got a few emails recently from readers who've had some success following this site. I'm reprinting them below:Subject: Re: Happy IFC followerHi Joel-I had

Taxing? - IFCN WK 71 -Thu - Equity: $2,870.23

2009-04-16T00:47:00.000-07:00

Yesterday was "Tax Day" for the USA. It was the last day to file our taxes for 2008. And for those who have to pay, the deadline for paying. Not my favorite day, as I always end up paying in since I'm self-employed. Fortunately, there are a few benefits from being a trader in the USA, tax-wise. Thanks to Ronald Reagan, our taxes are a bit lower when obtaining profits from trading forex and

Apr. 6 – Apr. 13 Update - IFCN WK 71 - Mon- $2,762.05

2009-04-15T22:27:00.000-07:00

There were no OneNightStand trades on Friday, Apr. 10. Friday was a holiday in the USA and some places in Europe. The forex markets were open, but with slightly higher bid/ask spreads than usual. Still, there were no trades executed, of which I was glad. Funny things (usually not good) can happen on quasi-holiday trading.On Monday April 13, 2009 at 00:00 AM CST I exited my short Eur/Usd and

Corrective Week! Thu - Apr. 9, 2009 - Equity $2,733.35

2009-04-09T23:39:00.000-07:00

It is a short week due to the Easter/Passover religious holidays. Nevertheless, the FSP trades triggered definitely. Despite the likelihood of this week's trades being corrective in nature, they've been profitable as a group. This week's FirstStrikePlus trades: eur/usd: Short @ 1.3441, stop 1.3602.gbp/jpy: Short @146.66, stop 151.92.gbp/usd: Short @1.4712, stop 1.5007.usd/chf: Long @1.1339,

First One Way, Then the Other! - IFCN WK 70 - Tue- Equity: $ 2,673.65

2009-04-07T23:11:00.000-07:00

The First-Profitable-Open exit sure worked great this week. We had quite strong moves last week, many of which we were able to take advantage of. Fortunately, the profits were taken at the open of the Monday, with little follow-through. After exiting, the markets all reversed course like they hit an anvil. Everywhere you turn

Mar. 30 – Apr. 6 Update - IFCN WK 70 - Mon- Equity: $ 2,683.12

2009-04-07T22:03:00.001-07:00

Quite a challenging week!A number of readers contacted me to tell me about your great performance last week because you took the long Gbp/Jpy and Usd/Jpy trades. I'm sure you did very well. The Gbp/Jpy especially. Too bad the Challenge account didn't get them too.Still, the currency trades we did have were quite successful.On Monday April 6, 2009 at 00:00 AM CST we exited our long Eur/Usd and

Drawdown Deepens! -IFCN WK 69- Fri- Equity: $2,670.62

2009-04-05T23:50:00.000-07:00

After Friday's close, I realized that I held an additional trade that I shouldn't have. My FSP trade of short usd/chf from 1.1372 with a stop at 1.1497-- should have been stopped out when the price rallied up to 1.1506 on Wednesday April 1st. It turns out that I read my stop order wrong and placed it 20 pips higher than I should have. Of course, this mistake resulted in a missed loss, and

March 23 - 30 update -IFCN WK 69 - Mon- Equity: $2,836.94

2009-04-02T23:46:00.000-07:00

On Monday March 30, 2009 at 00:00 AM CST we exited FSP trades from the previous week's entries: short the Eur/Usd and long the Usd/Chf. The total equity below is from 00:00 AM- Monday morning.Shortly after the open the Usd/Jpy long trade got stopped out at 96.21, the short entry price for the new week's FSP trade.Week of March 23, 2009---FirststrikePlus trade executions:gbp/jpy: Long @ 140.94,

Vegas Workshop Rocked! -IFCN WK 69 - Mon- Mar. 30, 2009

2009-03-30T12:05:00.001-07:00

Hi all--The London Squeeze workshop in Las Vegas March 28th went off extremely well. The only hitch was they switched our conference room at the last minute. Perhaps it was a security thing.The synergy of the participants couldn't have been better. I thoroughly enjoyed meeting and speaking with every one. We had bright attendees from around the world and the U.S. All had the desire to be the

Patience! -IFCN WK 68 - Thu- Equity: $2,984.95

2009-03-26T23:29:00.000-07:00

Patience is a large part of trading.Losers always feel that they are missing something and feel the need to continually trade. When you've traded a lot and know how important it is to wait until “your” trade shows up, it is because you appreciate well how patience and profitable trading go hand-in-hand.Having patience helps this week.Even though we took a loss on our Gbp/Usd trade, we still

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

2009-03-25T08:08:00.000-07:00

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

Thanks to Weak Dollar- New Equity Highs! -IFCN WK 68 - Mon- Equity: $3,032.14

2009-03-24T19:59:00.000-07:00

Despite some loss trades last week this Monday's exiting profits from the Eur/Usd, Usd/Chf, and Usd/Jpy offset them handily since the position sizes exited were generous due to low volatility conditions prior to entry.It is nice when trades work out well.It is also astounding to me, even after trading these types of methods for decades- how quickly one can go from a burgeoning drawdown to new

Welcome Trend Week! -IFCN Wk 67 - Friday, March 20, 2009

2009-03-21T09:53:00.000-07:00

This week was indeed a solid trend week.Friday we finally got stopped out of the short Gbp/Jpy entered early in the week. I never liked that trade, and figured that it had 90% odds of getting stopped out when I took it. It was.As a side note it was good for us this week that we are in the custom of taking just the first FSP trade per pair. After the long Gbp/Usd trade got elected at 1.4171 and

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

2009-03-19T15:26:00.000-07:00

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

Up 13% in a Day! Thanks Ben! -IFCN WK 67 - Thu- Equity: $2,648.49

2009-03-19T02:42:00.000-07:00

Wow!Gold – sharply higherSilver – sharply higherTreasury bonds – sharply higherStocks – sharply higherCurrencies – sharply higherSee the important trend change on the daily Eur/Usd chart. Notice the parallel trendlines crossed.Tuesday I mentioned that there was “Quite a showdown situation building.” and that “Maybe something spectacular will happen later in the week.” I'm glad it did.Even I was

Let the Reader Use Discernment! -IFCN WK 67 - Tues- Equity: $2,338.19

2009-03-17T23:37:00.000-07:00

There is a truth that gets repeated just often enough for you to remember hearing it before, but too quickly forgotten when the latest episode of your life slaps you into temporary submission..., that is- “those who refuse to remember the past are condemned to repeat it”.It would be best if an understanding of history was regarded as a crucial talisman against catastrophe by those who affect the

The Dollar is Losing its Grip! -IFCN WK 67 – Monday- Equity: $2,413.69

2009-03-16T17:44:00.000-07:00

This morning we got some early strength in the Pound and Euro triggering long FirstStrikePlus trades, carry-over strength in the Gbp/Jpy almost triggered a long position there also.At today's open I exited my elective long eur/usd trade from last week for a 155 pip profit. There were no OneNightStand trades entered on Friday to be exited this morning.In the last four trading sessions we have

Weekly Rollercoaster Profits! -IFCN WK 67 - Monday- Equity:$2,485.44

2009-03-15T21:51:00.000-07:00

I have completed the recap of the past few weeks' action in the IFCN challenge account. It has seen dramatic swings, but then again-- we have seen dramatic swings in mood and markets in the past month. When markets get tired of their borders they usually trend. I know that I'm not alone in welcoming some solid forex trends. I've finally been able to arrange my schedule to make more frequent

Can the Forex Markets Get Worse?

2009-03-12T23:51:00.000-07:00

Probably, but not likely.An interesting report came out from the Blackstone Group. (http://www.blackstone.com)Stephen Schwarzman, Blackstone's CEO, said on Tuesday that, “Between 40 and 45 percent of the world's wealth has been destroyed in little less than a year and a half. This is absolutely unprecedented in our lifetime.”After laying much of the blame for today's financial crises at the foot

Character Building-- One New Equity High at a Time! - IFCN Wk 62 –Friday- Equity: $2,727.50

2009-02-15T20:44:00.000-08:00

This was another brutal week for followers of FirstStrikePlus. These weeks are inevitable, but when they happen, they still can sting. I'm glad there weren't any OneNightStand trades on Friday. When forex markets are as choppy as we've seen recently, ONS trades rarely make much money. Still, if they occur, the odds are to take them.To add insult to injury, every day seeing the future world

Week starting Feb. 9, 2009 - IFCN Wk 62 –Mon- Equity: $2,695.01

2009-02-15T12:38:00.001-08:00

Last week saw a lot of red ink in the FirstStrikePlus trades and even the lone ONS trade taken in the Usd/Chf.The only bright spot was, again; the XAG (silver) which ran up so much that we still had a new equity high by Monday morning, Feb. 9.How long can this continue? Amazingly long, obviously. As most of you know, I am quite bullish silver and silver derivatives. I have every belief that

Another New Equity High - IFCN Wk 61 –Mon- Equity: $2,659.74

2009-02-02T22:20:00.000-08:00

We are doing something right.On Friday we closed very strong in our positions in XAG (silver), and FirstStrike Plus positions of gbp/jpy and gbp/usd. By Monday morning, the prices were much less favorable, but still favorable enough in the Sterling pairs to take decent profits.Last week the long FSP eur/usd was a disappointment bringing a loss early last Friday. By Friday, we had significant

Big Week Again! XAG (Silver rally) Here's why----

2009-01-31T15:27:00.000-08:00

I had to embed this next video.I know the last video series got deleted. Too bad, because many needed to learn the lessons that were YouTubed for those who don't get the BBC.This video was sent to me from one of my kind readers and friends, Jim from Oregon.ATTENTION:What follows is my personal view. This notation is necessary or I'd have to have a million disclaimers attached to my site, a real

Maybe You're Pretty Good After All! - IFCN Wk 60 –Thu- Equity: $2,656.39

2009-01-29T17:58:00.000-08:00

Budget out an hour of your time. You have a series of videos to watch.I know that most of you who follow this site are individuals who have fought a long time to become profitable in forex, or futures and stock trading. The rest of you are likely at the start of finding out whether trading is suitable for you.Not to be negative, but trading probably isn't the right thing for most of you.Not

Glimmers of H-o-p-e or Just Gas? -- IFCN Wk 60 –Tues- Equity: $2,594.64

2009-01-27T05:58:00.000-08:00

A few points of note: According to some very popular news sources, because German business confidence rose somewhat unexpectedly and the U.S. stock index futures advanced yesterday – the Euro is advancing from its lows last week. (More likely the market ran out of selling from stirred Pollyannas)

Huge Plus Week--IFCN WK 60 -Mon-Equity: $2,568.92

2009-01-27T05:03:00.000-08:00

So comes the exit of some hugely profitable trades. It has been a while since we had so many big profits per market. In the Usd/Chf alone, we made more than 5 times in profit what we were risking on the trade. Many will think these are outsized gains that can't possibly repeat, but anyone who has been trading FirstStrike for any amount of time knows that this is exactly the way the method

Trades Rise Like a Phoenix! -- IFCN Wk 59 –Mon- Equity: $2,159.09

2009-01-19T23:59:00.000-08:00

We've got substantially larger profits in just a couple hours of trading this week.How? Courtesy of the FirstStrikePlus trades from last week.Early this morning the dollar's strength became a wave, clicking us into a long usd/chf and a short usd/jpy trade, both with very small stoplosses meaning we have on substantial size for once. Either we will be stopped out quickly or this could be a big

Dollar Stronger---IFCN WK 59 -Mon- Equity: $2,101.55

2009-01-19T23:47:00.000-08:00

The dollar was stronger at the beginning of the previous week, yet relaxed a bit by the end of the previous week, causing trades which had decent profits to give them all up. At the end of the week the only decent profit left in the account was from silver, (XAG) which is more of an IFCN position trade than a frequent tradeable. (But, the XAG trade will likely be the biggest profit ever taken

Euro Correction Completing? -- IFCN Wk 58 –Thu- Equity: $2,040.22

2009-01-16T01:10:00.000-08:00

The inauguration day draws near. People have positioned themselves as well as they can based on their beliefs of the changes expected to take place economically because of the looming presidency. Remember, the whole "O" campaign was based on "hope."Hope is not a strategy. This leads into an old saying.---If wishes were horses, then beggars would ride--- (Alternate translation: If wishing

Holiday Recap-- Solid Gains Despite Quivering Market Action.

2009-01-16T00:58:00.000-08:00

Here is the recap of the trades I've taken through the last few weeks while I took my break from writing.It was great having a little break, but since the markets were still moving, I kept placing the FirstStrike and ONS trades. With quite satisfying results. Nothing spectacular mind you, but a decent increase even with XAG (silver) prices declining somewhat during the period.The last couple of

Turbulence - Beware! -IFCN WK 58

2009-01-12T23:40:00.000-08:00

The markets have been in an amazing type of tumult. In aviation, it is called turbulence.Substantial profits have been possible from trading breakout methods recently, but many traders who could be profiting have accomplished little because of the confusing nature of the moves in forex and other major markets.Last week, the Euro was especially weak, while the Sterling was exceptionally strong.

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

2009-01-08T22:07:00.000-08:00

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

Surprise!

2008-12-21T23:27:00.000-08:00

I didn't mean to be gone so long....I got the chance to take a break, and took it. (Or, to use Mark Twain's line, "The rumors of my death have been greatly exaggerated".)Didn't get much chance to take a break from trading though. When good trades keep appearing, it would be irrational not to take them.Just when I thought it couldn't be much better than the action in September, October, and

What goes Up...,

2008-12-18T23:34:00.000-08:00

Up, up, up, down, down, down....I am impressed with all the movement in the forex markets. And pretty tired. But happy.I've had some good trading this week, and some difficulties. When markets ratchet up and down so quickly and you need to put on large positions, you place your trade and within 15 seconds are thousands richer or poorer. Usually poorer when you're trading breakouts like I do.

Wow #2! Up 17.7% this week alone! - Readers respond-- IFCN Wk 54 –Wed- Equity: $2,269.50

2008-12-17T14:33:00.000-08:00

I believe that I get some of the more interesting emails any trader could receive.The people who read this blog are not average. Most have serious intent to trade with a definable edge and go to great lengths to understand it and monetize it.Most of you know that I use a private money management algorithm for trading ONS and FirstStrikePlus. I have no complaints about it, but many have

---Wow!--- Up 10.9% in One Day! – IFCN Wk 54 –Tue- Equity: $2,185.61

2008-12-16T23:04:00.000-08:00

Wow!That's all one can say after a day like today. After the Fed news came out this afternoon, markets bolted higher, from currencies to bonds, and commodities like natural gas and silver.We finally got filled on our last FirstStrikePlus trade of the week, short the Usd/Jpy @ 89.21.The Federal Reserve cut its target interest rate to a range from zero to 0.25 percent, making the U.S. dollar the

Is the Dollar the New Yen? -- IFCN Wk 54 –Mon- Equity: $1,970.53

2008-12-15T22:58:00.000-08:00

The euro traded near 9 week highs against the dollar on the belief that the Federal Reserve will cut the target rate for overnight lending to a record lows. If the Fed keeps lowering interest it will make virtually every other currency a carry trade against the dollar, similar to the situation that existed with the Japanese Yen for so many years.If this indeed starts turning the other currencies

Dollar Weakness Forces Higher Profits! - IFCN Wk 54 –Mon- Equity: $1,928.48

2008-12-15T22:56:00.000-08:00

The dollar is beginning to lose the steam of “fear” buying. Last week's FirstStrikePlus and OneNightStand trades were profitable because outside interests can finally see that buying dollars as a temporary stopgap doesn't solve the problem of how to monetize value from current market imbalances.When you are trading brutally robust methods and the rest of the world is unsure of what positions to

Dollar Slips Further! -- IFCN Wk 53 –Fri- Equity: $1,843.90.

2008-12-14T23:15:00.000-08:00

Friday was an interesting day. The major interest was the action in the Japanese yen.Late Thursday I got a short FirstStrikePlus Gpb/Jpy trade. I wasn't particularly thrilled with that trade, then or now. The trade was a valid one, but it showed little followthrough after entry.I wasn't terribly keen about getting any additional OneNightStand sells in either the Gpb/Jpy or Usd/Jpy, and I

Character Counts! -- IFCN Wk 53 –Thu- Equity: $1,851.14.

2008-12-11T10:00:00.000-08:00

-A Favorite Quote-J.P. Morgan: "Lending is not based primarily on money or property. No sir, the first thing is character."Too bad the world eschewed that principle after J.P. passed on. They'll go back to his type of thinking in the future.Character counts. In lending, in finding someone to marry, making a deal – and the trust in the capital markets by traders.I completely believe that

Dollar Weakens FSP Responds! -- IFCN Wk 53 –Wed- Equity: $1,767.89.

2008-12-10T15:54:00.000-08:00

New equity watermark today! $1.767.89. That is a 253.5% increase in the last 53 weeks. At the very least-- better than T-Bills.Any idea how many trades we took in the last year, both FirstStrike and OneNightStand-- ending this Monday morning? Definitely more than enough to be statistically viable. -----The euro strengthened in the last two trading days, trading near two week highs vs. the

Transition Week Returns Profits! -- IFCN Wk 53 –Mon- Equity: $1,623.81.

2008-12-08T16:07:00.000-08:00

After the “terrible” employment news on Friday, currencies started gaining on the dollar, along with XAG and XAU (silver and gold). That helped out the Challenge account this morning with the XAG giving us additional profits, almost creating a wash after all the action we experienced last week.When the dollar starts weakening, we could easily start making large gains from FirstStrike AND the XAG

Traders Respond #2-- IFCN Wk 52 –Fri- Equity: $1,597.81

2008-12-07T22:48:00.000-08:00

I'm posting some more of your emails-- readers and successful traders who were willing to share your experiences.Your responses are valuable to others because trading is a very mental process. As a mechanical process, almost anyone can physically enter a specific forex trade consistently. Nevertheless, personal attitudes about value and conviction are involved, making consistent execution of a

Traders Respond #1-- IFCN Wk 52 –Thu- Equity: $1,600.25

2008-12-04T11:30:00.000-08:00

I got a plethora of emails from intelligent and brave traders who were willing to share their experiences.I will share a few in this post and share some more later. These responses are incredibly valuable to others as they delineate the process successful traders must traverse._______---- +182.36% ----Hi Joel,In your Blog, you asked about other people's results.I started following your methods (

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

2008-12-03T23:42:00.000-08:00

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

The Trend..., Is! -- IFCN Wk 52 –Tue- Equity: $1,549.88.

2008-12-02T11:50:00.000-08:00

After Monday's opening and the taking of a couple of profits from Sterling dominated trades – the Pound promptly started falling decisively, triggering the FirstStrike Plus sales of gbp/usd and the gbp/jpy. At the same time, we received a new sale in usd/jpy seen below.While these profitable trades were stacking up, the XAG position took a lot of heat, silver dropping $1.00/oz from Friday's

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

2008-12-02T09:20:00.000-08:00

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,

Thanksgiving Pause -- IFCN Wk 51 –Fri- Equity: $1,656.77

2008-11-30T20:05:00.000-08:00

With this being a fairly large Holiday week (Thanksgiving-USA), very little action took place on Thursday.Friday, the Euro slid 200+ pip vs. the Dollar but the Sterling held quite nicely. It looks like we might be able to collect a few profits by Monday's opening. Nevertheless, the week showed decent gains by the end of the week - much from the rise in XAG. (silver)There are various reports

Think and Prosper! -- IFCN Wk 51 –Wed- Equity: $1,675.49

2008-11-26T10:24:00.000-08:00

Thinking is obviously not popular today. Just a glance at the world's financial climate makes that clear. Now, most people are rewarded for following others' instructions, not their own thinking. That's fine if you are making a burger but not good when you are making financial decisions that ultimately impact the wealth of billions of others.. Tipping a 20 ton balanced boulder off a mountain

Should We Thank Mr. O. for the current Rally? -- IFCN Wk 51 –Tue- Equity: $1,686.78

2008-11-25T23:55:00.000-08:00

Obama is being credited with the recent rally in the Stock market. It's been reported (admittedly by kooks) that he can cure cancer, make the lame walk; and now all he has to do is.., raise the dead.He might want to start with Detroit and the current proposal for resurrecting the auto industry.The Detroit automakers only think they have trouble right now. Nothing compared to what they'll have

Rally Anyone?-- IFCN Wk 51 –Mon- Equity: $1,493.55

2008-11-25T20:44:00.000-08:00

It is amazing that we haven't had much of a drawdown since we made equity highs almost a month ago.This Monday morning we didn't get the chance to exit any of the FirstStrike Plus trades held over from last week, namely the long Gbp/Usd from 1.5126 and the short Usd/Jpy from 95.39.It was close on the Usd/Jpy. The open (95.44) was just a few pips higher than our short entry- I wouldn't have

Calm Week Preserves Capital!-- IFCN Wk 50 – Fri- Equity: $1,504.39

2008-11-23T23:26:00.000-08:00

This was a turnaround day for many markets. Not many of the ones we were in - maybe XAG (silver). We have had so many apparent turnarounds in silver that we will have to see $11/oz or greater to have that confidence.The swings in stocks and other capital makets this week caused many great losses. Due to our volatility adjusted stance, we have weathered the recent storms quite well.This isn't

“You thought I said what?”---H. Paulson- IFCN Wk 50 –Wed- Equity: $1,439.60

2008-11-19T22:55:00.000-08:00

We got a few more FirstStrikePlus trades. For a short while this morning it looked like we were going to have a very good up-move in the Euro and Sterling. Then they reversed as quick as they started up.So, we got stopped out of the eur/usd and usd/chf. Still no trade in the gbp/jpy. Maybe there won't be one this week.Chop continues as individuals and large companies fear the worst. (

Show us the Money?-- IFCN Wk 50 –Tue- Equity: $1,529.10

2008-11-18T23:40:00.000-08:00

So--- we've all heard about the billions of dollars given to banks to improve liquidity and to ease the problems with getting money back in the the financial system, via either loans or credit guarantees.What don't we see any of that money showing up anywhere that could do any of us some good?There is a term people need to begin understanding- “quantitative easing”. (Hint: Japan has been doing

The Calm!-- IFCN Wk 50 –Mon- Equity: $1,479.31

2008-11-17T23:54:00.000-08:00

The currency markets are in a self-imposed quagmire. That's fine.If they calm down enough, when they start moving again, the potential for gain is much greater.The week's current FirstStrikePlus trade:Eur/Usd: Long @ 1.2723, stop 1.2508. FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit) See complete rule-set for effective trade

FirstStrikePlus- 5 Profits!-- IFCN Wk 50 –Mon- Equity: $1,527.65

2008-11-17T23:51:00.000-08:00

I didn't feel the need to post very much last week. The negativity is so thick out there that you could cut it with a chainsaw. Highlighting negativity doesn't help a trader's perspective.It must run its course. It will.I am actually extremely positive about the potential in the currency markets over the next few months. We could have some annoying markets, but trends are inevitable after all

Dollar Resurgence Builds Profits!-- IFCN Wk 49 – Wed- Equity: $1,480.65

2008-11-12T23:47:00.000-08:00

All the week's FirstStrike Plus trades are in positive territory. The trend week I was looking for showed up- just in the opposite direction from what I would have expected. Another example of why I take the trades anyway, even though my mind might not like it.Some extremely so. The short Gbp/Jpy trade started last week, which didn't get exited this Monday because of insufficient profits--

Rangebound Trade Continues-- IFCN Wk 49 – Tue- Equity: $1,530.10

2008-11-11T23:33:00.000-08:00

There isn't a lot of activity going on in the currencies, other than ranging trade that develops after large moves like we've seen in previous weeks. Banking institutions and trading firms are testing to see how committed their trading cohorts are to defending their positions, causing many false starts and aborted moves.In general, it is wise to have smaller commitments when this type of market

Positions Maintain Status Quo! -IFCN Wk 48 – Fri- $1,554.20

2008-11-09T23:55:00.000-08:00

Another choppy week due to the forex markets trying to resume more normal volatility. There are potential profits from this week's current trades, but nothing to stir the imagination. We can expect to get greater profits after the markets get closer to “normal”. When smaller weekly volatility becomes typical again we will be able to trade larger size. Then some decent profits can accrue when

Currency Rally Fizzles! IFCN Wk 48 – Thu- Equity: $1,585.43

2008-11-06T23:41:00.000-08:00

After the brief rally in the currencies, they turned around and now the FirstStrike positions put on early in the week-- 3 which didn't get stopped out -- are now in profit mode.It seems the world is trying to figure out how their great gift will be of benefit to them. It may take a week or two.Silver is still holding its own fairly well, last checked it was $10.15. TOTAL Equity: $1,585.43.

Currency Rally Continues! IFCN Wk 48 – Wed- Equity: $1,643.66.

2008-11-05T08:51:00.000-08:00

After the push upwards yesterday, most currencies (except JPY) are gaining on the dollar. Suits me. Apparently with the election going in their favor, Europe believes there is hope for their future.There is hope for them, temporarily. Drunkards are always happy when there is more free drink available. Until it is all over, which in the case of a world economic financial system, will take years

Dollar weakens Dramatically! IFCN Wk 48 – Tue- Equity: $1,577.92.

2008-11-04T10:49:00.000-08:00

It's nice to see the Eur/Usd,the Gbp/Usd and Gbp/Jpy go higher-- even if FSP trades this week are positioned the wrong way. Not that I like the Challenge account losing money, but it is good to see the currency pairs holding well against the dollar – right in the price area where they should. Besides, my other accounts are enjoying this burst of activity. Notably: London Squeeze, which got me

FirstStrikePlus Reversal Protocol-- IFCN Wk 48 – Mon- $1,563.21

2008-11-03T23:53:00.000-08:00

We're getting trades, just not very profitable ones. But then again, our exits of last week haven't been too bad and the FirstStrikePlus concept of reversing existing trades has proven to be cost saving-- saving of the total stop being hit on the previous losing position. And XAG is holding.I've received numerous questions about the protocol of reversing a trade in a pair from long to short

Pretty Good Week! -IFCN Wk 47 – Fri- $1,558.01

2008-11-02T22:58:00.000-08:00

Not too bad! I thought a number of times that this week might not be so good, but finally the XAG (silver) position helped push up the weekly numbers. There may be more of that in the future too.Here's last week's Friday recap:The data below is as of Friday's close, Oct. 31, 2008:Start of week equity: $1,428.36OneNightStand Exit(s) on 10/27/08 :*eur/usd: Short @1.2728, out at 1.2566 for 162 pips

The Chop Continues! -IFCN Wk 47 – Thu- $1,455.40

2008-10-31T01:04:00.000-07:00

One day you're at completely new equity highs, and the next-- you're down more than 10% those highs. Welcome to the world of high volatility!The Eur/Usd shot up strongly early today and then dropped like a rock. Same with silver. And the other forex pairs.Doesn't mean that the moves are done, but it appears we will still have to wait a bit until they get stronger. Indecision is still the

Perversity Rules- New Equity Highs! -IFCN Wk 47 – Wed - $1,667.31

2008-10-29T19:04:00.000-07:00

I am surprised but happy that we got filled on all of our trades so quickly. A different wind is blowing in the forex market this week. The wind is up for most currencies.It definitely looks like the dollar top is in. All the self-proclaimed savants 2 ½ months ago were certain that the Euro was unkillable – last week believed the Euro was finished. That is the condition I especially love

We Finally Got a Trade this Week! -IFCN Wk 47 – Tue - $1,438.76

2008-10-28T23:15:00.000-07:00

After last week's moves, I wouldn't have been at all surprised to get NO trades this week in FirstStrikePlus. When you vary your buy and sell points due to the previous week's volatility and the previous week was the week from Gehenna, the market has to do a serious move to get a trade the next week.We have one.The Usd/Jpy rallied up to hit our buy price at 97.26. I don't have a lot of size on

One Night Stand trades Successful! -IFCN Wk 47 – Mon - $1,430.86

2008-10-27T22:30:00.000-07:00

After this morning's open at 00:00 CST, I exited the 4 surviving OneNightStand trades from Friday. The summary follows-OneNightStand 08/24/08 entries:*eur/usd: Short @1.2728, out at 1.2566 for 162 pips profit*gbp/jpy: Short @152.82, out at 147.20 for 562 pips profit*gbp/usd: Short @1.6029, out at 1.5717 for 312 pips profit*usd/jpy: Short @95.33, out at 93.59 for 174 pips profitTotal ONS Profits:

Historically Profitable Week! -IFCN Wk 46 – Fri - $1,428.36

2008-10-26T22:28:00.000-07:00

In 25 years of currency trading, I do not remember a week like this one.Even tempering my risk tremendously this last week--- the IFCN Challenge Account has done extremely well with the straight-line moves in most all of the currency pairs favoring the dollar and yen.It turned out to be a great week to be trading FirstStrike Plus. If we were still trading the original FirstStrike model of 50

Outsized Profits Demand Early Exit! -IFCN Wk 46 – Thu – $1,436.16

2008-10-23T10:31:00.000-07:00

Due to an extraordinary decision, at 09:31 CST I exited all of my FirstStrikePlus trades at the market. I still have the single XAG position of 100 units @ $9.50, a Non-FirstStrike trade. This week's FirstStrikePlus trades have gained more than 16% on equity with less than 5% total risk.Early this morning, I had a nagging feeling that there was something that I needed to check. And so I did.I

The Dollar, the Strongest of the Weak..., Today! -IFCN Wk 46 – Wed – $1,402.66

2008-10-22T23:41:00.000-07:00

The dollar struck two-year highs against a majority of currencies today as concerns about worsening national economies again challenged investors to pare some more “risky” holdings. Investors are finally understanding that European economies could deteriorate as much as the U.S. economy. Funny how they are actually buying into that “weak” US economy when they sell their currencies and buy the

Go With the Flow! -IFCN Wk 46 – Equity: $1,378.14

2008-10-21T20:46:00.000-07:00

This is turning out to be an out-sized (profitable) week for the newly instituted FirstStrikePlus.Because the forex market has presently shown a strong tendency to whip back and forth, simple fixed volatility breakout points are subject to being triggered and being stopped out within minutes. Even so, they do work, because if the market doesn't immediately stop out the position initiated, the

Sometimes the Best Position Is.... -IFCN Wk 46 – Mon – $1,283.01

2008-10-20T23:55:00.000-07:00

a small position.... Smaller positions with larger stops are best when markets are this fluid. This was a good week to start trading FirstStrikePlus. After this morning's open (Monday) at 00:00 CST, there were no OneNightStand trades to exit. Just the new entries for FirstStrike Plus. If you haven't

End of Week Recap.... -IFCN Wk 45 – Fri – $1,207.10

2008-10-20T23:54:00.000-07:00

This is the last week we will be reporting on regular FirstStrike trades. (Fixed 50 pip breakouts above/below the week's open) Next week we will be using FirstStrike Plus, a volatility-responsive FirstStrike model.Here's last week's Friday recap:The data below is as of Friday's close, Oct. 17, 2008:Start of week equity: $1,205.35 OneNightStand Exit(s) on 10/13/08 :10/10/08 Eur/Usd short @

Silver Attention! -IFCN Wk 45 – Thu – Equity $1,246.21

2008-10-16T23:10:00.000-07:00

You might find the following daily XAG chart interesting---- I've talked about diagonal triangles before, and there has rarely been a better example than is now visible in XAG (silver). There was a fast drop again today, with a tap to a slight new low, which touched the support-line created by numerous

It Takes Time....IFCN Wk 45 – Wed- Equity $1,182.72

2008-10-15T23:53:00.000-07:00

Markets rarely stop and turn on a dime. After getting soundly pummelled for weeks, oftentimes the best solution is respite. That is the current choice of the most of traders. We lost another trade today. The FirstStrike long Usd/Jpy @ 101.02 got stopped out at 99.82 for a loss of 120 pips. It was a

The Quiet Before the Storm! -IFCN Wk 45 – Tue – Equity $1,268.56

2008-10-14T23:58:00.000-07:00

The dollar seems to be stopped by the global recapitalization plan. Surprised?You shouldn't be. It is the classic working out of the “Buy the news, sell the fact!” principle that works regardless of the side you happen to be on. In this case it was the foreign currencies being traded in for dollars as long as panic reigned, and now that the panic is basically over..., they're not continuing

Rebound at Last! IFCN Wk 45 – Mon – Equity $1,326.12

2008-10-13T23:56:00.000-07:00

Last week I revisted the double-edged sword issue of volatility and the benefit to using breakout points which are adaptive to current volatility instead of fixed breakout points. I am releasing a version of FirstStrike that better adapts to market conditions. Bring on the big moves! I will be using this adaptive version from now on in the IFCN Challenge account. Since I was not able to get

Still Alive! IFCN Wk 44 – Fri – Equity $1,205.35

2008-10-13T23:50:00.000-07:00

Volatility concerns have encouraged me to make a change that I had planned to implement after the IFCN celebrated its first anniversary. That change is to introduce a version of FirstStrike that automatically adapts its buy/sell prices to the current volatility of the market. The original version has

Historic Week! IFCN Wk 44 – Fri-

2008-10-13T00:49:00.000-07:00

Due to extraordinary time demands caused by trading volatility this last week, I did not complete the week's recap and detail intended information about optional volatility modifications to apply to FirstStrike and ONS.Both should be completed Monday, October 13.I'm glad to help others to potentially reap the opportunities presented by the current market action, but I'm also critically aware of

Another Shoe Falls! - IFCN Wk 44 – Thu- Equity: $1,458.23

2008-10-09T23:58:00.000-07:00

These are momentous times. It is nice for those of us who are liquid and in the forex market, taking only the trades where we have an edge, instead of being at the mercy of fund managers who were in grade school when the “crash of '87” took place. These sad creatures have only known bull markets and

The TRUTH: We're the 10th Man!! - IFCN Wk 44 – Wed- Equity: $1,366.54

2008-10-08T21:27:00.000-07:00

The following was sent to me thanks to George B. -- Bar Stool Economics Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:The first four men (the poorest) would pay nothing.The fifth

Higher Volatility – Sword of Damocles! IFCN Wk 44 – Tue- Equity: $1,337.95

2008-10-07T09:52:00.000-07:00

Sword of Damocles The recent high volatility has made “normal” a thing that changes hourly. In general, volatility is a good thing for traders, like me, who use volatility-breakout methods. But, you need to be aware of the flip side of the volatility equation too. We saw the real cost of volatility in

The Week's Silver Bullet! IFCN Wk 43 – Fri- Equity: $1,265.62

2008-10-05T21:59:00.000-07:00

Quite a week. We had great results with two of our FirstStrike trades, a result which is always welcome. We had extremely negative results in our XAG, or silver trades. That doesn't mean that buying silver is bad, but it means that there is a lot of market action that must be withstood until visible

Not a Quiet Day! IFCN Wk 43 – Thu- Equity: $1,312.67

2008-10-02T23:56:00.000-07:00

Wow! Not a day for the faint-hearted in the metals! Today, it seemed to be hard to keep a good metal up. Yesterday, silver showed its typical strength and ran up to 12.96 before backing off somewhat by the end of the

Quiet Day! IFCN Wk 43 – Wed- Equity: $1,492.80

2008-10-01T21:04:00.000-07:00

Obviously, everyone is waiting to see if a vote is going to succeed on the Bail-out. As volatile as today was, it was relatively calm compared to those previous. The market's mood is like the family waiting room in a maximum security prison 1 hour before an execution, everyone agonizing to see if the

Silver Plunge Opportunity! IFCN Wk 43 – Tue- Equity: $1,449.47

2008-09-30T23:14:00.000-07:00

European banks are running amuck this week as global money markets are locking up. Numerous foreign banks have required capital infusions from governments, including our Federal Reserve. Because money markets have gotten difficult to obtain money from, typical business isn't so typical anymore and credit

Anyone Want to Buy Some Stocks- Or Nancy Pelosi go Home? IFCN Wk 43 – Mon- Equity: $1,556.92

2008-09-29T22:43:00.000-07:00

I'm sure there are many people who threw in the towel in the stock market today. Discomfort ran rampant. It didn't help that the resident commie Nancy Pelosi caused bitter feelings just before the vote with the partisan speech she gave on the floor of the House of Representatives. With the strong

Fear Profits! IFCN Wk 42 – Fri- Equity: $1468.07

2008-09-28T22:17:00.000-07:00

We had a pretty good week with all of the news and fear setting hold of the forex markets. We are definitely not done with volatility. I've been very impressed with how well the Challenge account has been doing despite the whipsaws we're seeing every day. Silver has held in there like a champ. We gained

Ben Bernanke and the Devil! IFCN Wk 42 – Thu- Equity: $1,422.30

2008-09-25T13:19:00.000-07:00

My considered, previous advice made to WallStreet; and now to Washington:If you wear clothes made of flash paper, don'tsmoke.Everyone who has a news show, blog, pulpit..., isgoing on and on about the governmentbuyout/sellout of idiots who mishandled Trillionsplaced in their care. Everyone seems to beoutraged. They all want to know how and why thismess happened.I have little interest in talking