1185 % increase since December 2007

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!

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!

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

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

NFP day-

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

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

Last week's recap--

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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?

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

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

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

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----

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

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

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

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

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

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

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.

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

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

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