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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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.

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

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

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