First Strike Trader Log: 7.20.15  to  7.22.15


PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.

 

 

Hello Traders,

As the markets have settled down considerably from the last 2 weeks turmoil, we have turned the First Strike Trader back on as of today. We are trading the Master Account now at a .5% risk setting. This means that on a full position trade, we would take a .5% loss. Over the next few weeks, market permitting, we would like to raise it to .75%, and then to as much as 1%.

We should see some decent trading activity this week. Please stay tuned.



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Hi traders,

After a crazy market open for the week things have settled down quite a bit.  I am planning on taking live trades tonight after the London open if all appears to be in order.Of the pending orders that were on my charts from Friday, more would have resulted in profits than not.  That trend got stronger later in the day.  Let's hope for a great trading week.  After Wednesday things should be back to normal, as long as the Greek Parliament accepts the Euro bail-out proposals.

Hi traders,

I have attached a letter that I wrote early this morning explaining why I will not be taking any trades until sometime after the NY open.  By the end of the afternoon the Greek government backed down a lot, and they have been give 3 days to present the new proposal to the Greek citizens and either win them over, or likely suffer dire consequences.  I was actually hoping for some sort of a concrete resolution by the London open tonight, as we would at least have had a correct market sentiment to work with.  Now we have another 72 hours of uncertainty.  The markets opened with smaller, and yet significant gaps on most pairs.  I will watch London and the open of NY carefully, and hope to at least test the trading waters tomorrow on a couple of very reliable trade setups.  I will do a complete chart and email update tomorrow during the day or in the evening.

The First Strike Trader Team

Greetings First Strike Traders,

We have several updates for you today.

First, the markets are highly stressed as a result of the Greek referendum vote yesterday which resulted in a resounding NO. As many know, when the markets are in this kind of chaos, we simply go on the side, stop trading, and wait for it to rebalance. More on this a bit later.


Below are a few trade log screenshots from the week before last and the last few days. This was the first time that our automated Fx Synergy software was used for our live client accounts. And while the markets have been unduly stressed and trading was challenging overall, we are humbly proud of the results.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
(Please see the expanded disclaimer at bottom of Blog)

Please note the preponderance of wins (green) vs. losses (red). 

These are the results that our Master Trading Account generated, which fed our many client accounts around the world. As soon as the markets calm down, which we expect in the next few days, we will resume live trading in client accounts.



Below is the update we sent out yesterday to our active traders:

July 5, 2015

Market update to clients.

As most of you are aware by now, Greece voted “No” today, and rejected the Euro Zone financial re-structuring offer.  The no vote has once again thrown the financial markets into chaos, with extreme gaps on the open a couple of hours ago.  The markets will remain extremely “Risk On”, as I discussed last week.  I am going to stay out of the market tonight and for the first hour or two of the New York open.  We will likely see some extreme reactions by the banks and large traders as their respective markets open.  With the vote now over the markets will at least be able to adjust to the financial realities facing the Euro Zone. 

Look for a new profile and new signal service update tomorrow morning after the New York open.  Remember, smart traders only trade in markets that they understand.  Otherwise, you are just gambling.  Go to Las Vegas if you want to gamble.  You will still lose your money, but at least you will get a nice vacation out of the deal!  Let’s look for strong trade setups this week.  We should get them if we are patient and extra vigilant.

Happy trading!

Forex Contrarians, Inc. and First Strike Trading