Week 4 - Fri- Current Equity: $563.75

Hi everyone:

This week was the beginning of a long year, one that should be very exciting for the watchers of the Infiniteyield Forex Challenge.

The dollar is being buffeted and is charging back and forth energetically enough to test just about any trader's mettle. This action inevitably turns into trending action and we shall try to make the best of it when it comes.

We got to start off the year with 7 consecutive losses. From such a start, it can only get better. It was good that our position size was reduced due to holiday issues. Next week will be full position sizing again.

On to what happened this week-

Alpha account trading recap:
Start of week equity: $ 580.41

Completed FirstStrike trades:

EUR/USD: SELL 1.4694, stop 1.4754. -stopped out 60 pips loss
GBP/USD: BUY 2.0027, stop 1.9967. -stopped out 60 pips loss
USD/JPY: SELL 111.47, stop 112.07. -stopped out 60 pips loss
USD/CHF: BUY 1.1279, stop 1.1219. -stopped out 60 pips loss
GBP/JPY: BUY 224.17, stop 223.57. -stopped out 60 pips loss
Total of 300 pips in losses
Total of 0 pips in profits
-----
OneNightStand Exit(s) on 12/31/07 :
-None-
OneNightStand 01/04/08 entries:
Short GBP/JPY @ 213.59, stop 214.14.-stopped out for 55 pip loss
Short GBP/USD @ 1.9704, stop 1.9759.-stopped out for 55 pip loss
Total losses: 110 pips
-----
End of week equity: $ 563.75 (includes unrealized P&L)
Total Gain on Week: $ (16.66)(3% decrease)
Unrealized P&L: $ 00.00

See you Monday!
Best wishes on your new year!

Joel Rensink
www.infiniteyield.com

PS: To receive the FREE! trading rules for the Infiniteyield Forex Challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: newsletter@infiniteyield.com and tell me to which address you would like it sent.