Ahead One step, then back Two! --IFCN Wk 30 -Mon- Equity: $752.13

We got some profits this morning, then promptly had some losses. Trading as usual.You might want to scroll down and check out some of the comments on previous posts.Here was one from June 28th--Hi Joel. Thanks for posting this blog, very informative.I was wondering, if you were to get stopped out of all your First Strike and ONS trades (assuming you had all five currencies in trade on the same

Dollar Slammed this Week! OneNightStand profits!--IFCN Wk 29 -Fri- Equity: $767.88.

After a volatile beginning, this week the major currencies continued the directions set last week, with the dollar losing against all of them. The Fed holding the same interest rate and some in the Eurozone increasing theirs-- was a knee-jerk recipe for dollar weakness. Less interest differential for the dollar-- the dollar loses some supporters.As many are beginning to realize, the carry-trade

How Long until You earn a Million?--IFCN Wk 29 -Thu- Equity: $759.90.

I ran across this interesting list on the net earlier today.Here are 30 jobs with earnings anywhere from below minimum wage to six-figure salaries and how long it would take to earn $1 million in terms of years. Architects, except landscape and naval: $64,150 ---16 yearsAutomotive service technicians and mechanics: $33,780 ---30 yearsBartenders: $16,350 ---61 yearsBookkeeping, accounting and

Been Bitten? --IFCN Wk 29 -Wed- Equity: $763.20.

-----A young girl was trudging along a mountain path, trying to reach her grandmother's house. It was bitter cold, and the wind cut like a knife. When she was within sight of her destination, she heard a rustle at her feet. Looking down, she saw a snake. Before she could move, the snake spoke to her. He said, "I am about to die. It is too cold for me up here, and I am freezing. There is no food

People Who Think about Art as an Investment are Pathetic! --IFCN Wk 29 -Tue- Equity: $760.55.

The famous quote above is from Walter Hubert Annenberg (1908 – 2002), an American billionaire. He was a previous owner and publisher of the Inquirer, the creator of Seventeen magazine and TV Guide; a philanthropist, and a diplomat.Estimates are that Annenberg donated more than (US) $2 Billion in his final years. Believing education was the greatest investment he spent much on schools,

Peter, Paul and Mary..., Dictate the Strength of the Euro! --IFCN Wk 29 -Mon- Equity: $799.33.

Inflation is increasing noticably in the Eurozone and the US. More noticably in the Eurozone of late because of the previous extreme emphasis on the America's economic situations which are loudly and rancorously trumpeted.Some have correctly noted that both the Eurozone and the US have similar economic growth figures so far. Yes, but those figures are very deceptive as is what economic growth

2 + 2 = 4 ! --IFCN Wk 28 -Fri- Equity: $789.67.

Not much can be said about this week except I'm glad it is past.A lot of other markets held my attention due to resources involved. Greater risk = greater attention. The grains are very active and dangerous, but risk managers is what traders are. Where the risk is, the profits are. Making sure that you can handle the specific risk you are willing to take is the ultimate question.If you are in a

Chicken Little Solution!--IFCN Wk 28 -Friday- Equity: $782.50.

This has really been a “nothing” week, which had a lot of action. We saw crude oil hit $139.89/barrel on Monday morning and then promptly fall off $5.28/barrel the rest of the day. It has been going lower since.Corn prices also hit an all time high of $7.60/bushel Monday and haven't gone any higher since. Not for a lack of trying. With all the news in the world saying that there will be no corn

Time for a Nap!--IFCN Wk 28 -Thu- Equity: $786.15.

This trading week has been relatively uneventful except for general uncertainty about how inflation should be dealt with in the representative currencies.The European Central Bank has been making strong comments about how they are particularly concerned about inflation and show willingness to increase their interest rates. That should make some people less willing to be short the euro.We have a

Battle of Words Shakes Markets!--IFCN Wk 28 -Tue- Equity: $781.34.

Much talk about inflation and the ramifications of high crude prices caused a lot of turmoil for our trades. Three of them got stopped out. I wasn't surprised.  I was more surprised when we had the temporary 4% gain mid-Monday with the initial trades. The week is probably going to continue to chop as the large players get settled as to where they intend to place their strongest positions.The

Now the Euro Gets Stronger!--IFCN Wk 28 -Mon- Equity: $810.02

I'm sure you have noticed that the news rotates back and forth every few days as to which currency is taking a dramatic gain over the others.When this happens this often, it is usually a distribution area. These are typically very difficult areas to trade. You need a system that trades on price, and you need to execute trades precisely with little fear of the consequences of your trades. And

Successful Week buying the Dollar!--IFCN Wk 27 -Fri- Equity: $785.05

Four OneNightStand trades (listed below) were executed on Friday. None were stopped out on Friday, so they all have been held over for exit early Monday morning right after midnight. Three FirstStrike trades were exited Friday just before 15:00 CST.Here's this week's recap:The data below is as of Friday's close, June 13, 2008:Start of week equity: $709.31OneNightStand Exit(s) on 06/09/08:

Euro Slump!-- IFCN Wk 27 -Fri- Equity: $782.51

We currently have 7 positions.  Its been a while since we had on this much size.  This situation is always a double-edged sword.We got filled on the following OneNightStand orders early this morning:eur/usd: short @ 1.5365, stop 1.5465.gbp/jpy: long @ 210.76, stop 209.76.gbp/usd: short @ 1.9433, stop 1.9533.usd/jpy: long @ 108.10, stop 107.10. If a OneNightStand order is not stopped out during

Turn The Machines Back On!-- IFCN Wk 27 -Tue- Equity: $781.74

When I see the action of the Euro this week I am reminded of that famous phrase spoken at the end of the 1983 movie, “Trading Places” with Don Ameche, Dan Aykroyd and Eddie Murphy. The Duke brothers had made a ruinous position bet on a market they were absolutely sure of – and they were absolutely wrong. The market went where it had to go--- against their huge, completely wrong positions."

The Dollar Isn't As Weak as THEY Thought!-- IFCN Wk 27 -Tue- Equity: $777.35

After the huge run-ups in all major currencies-not-the-dollar near the end of last week, we are having the exact opposite reaction this week. Maybe the strong currencies of Europe aren't that strong after all.Contra Felicem vix deus vires habet. (against a lucky man a god scarcely has power.)We've had some big profits in Forex this week. Maybe a little better than we normally would, but I can

Please Be Careful, Obama!-- IFCN Wk 27 -Mon- Equity: $729.55

I have serious concerns for Senator Obama's safety. Check musings on the web, and you'll see I'm not alone.That said, he is not my candidate. I have no candidate, unless someone can dig up and revive either Thomas Jefferson or Teddy Roosevelt. And, if resurrected, I doubt either of them would be willing to be president of the country that is America today.I have no interest in editorializing a

Weak Dollar Fears Panic Friday's Trading!-- IFCN Wk 26 -Fri- Equity: $709.31

This was quite an interesting week, especially after seeing the fireworks on Friday after the US non-farm employment report. It definitely looked like we were going to get stopped out on all of our trades a number of times. After the market settled down near the close, we attained a measure of profit in the Gpy/Jpy, which was far off the maximum profits it held at one point in the week, and

Trades Oscillate before Friday's Big News!-- IFCN Wk 26 -Thu- Equity: $719.57

The trade on Thursday was obviously defensive preparing for Friday's Unemployment report.  This news is always watched every month to give a clue about overall economy strength, but this seems to be a particularly key news release because of the edgy feelings other currencies have been experiencing.Today I sent out an example Sure-Breakout trade in the Eur/Usd to those on the subscriber list. It

Can You Handle the Swings?-- IFCN Wk 26 -Wed- Equity: $$754.15.

We've had two more of the week's FirstStrike trades bite the dust. The short Usd/Chf and Usd/Jpy got stopped out. I wasn't surprised.When they got stopped out, the drawdown intraday was substantial. All of the trades looked like grim “death at the door”. If you panicked and exited then right then, which would be the most natural human reaction there is; you would be down substantially for the

Trading is Mental!-- IFCN Wk 26 -Wed- Equity: $757.20

First, note the new box on the upper right hand of the page about- "I am going to be this rich in the next 10 years." I found the site on a search about utility theory. It is a must-try site for burgeoning traders. Answer just 15 questions and find out what kinds of choices can dictate huge changes in your future rewards. The result you see on the button is what I received my first try--

A full Half Year of Forex Trading Success!-- IFCN Wk 26 -Mon- Equity: $755.67

We are halfway into the first year of the challenge. We exceeded the 50% target for the year many weeks ago. Then had an inevitable drawdown and now we are beginning to climb back up in equity. There were no official OneNightStand trades taken on Friday, so there were no exits on Monday morning. I stated “official” ONS trades because after official Friday trading hours - when there is