Sunday, February 3, 2008

"Any Forex trade you can walk away..." IFCN Wk 8 -Fri- Equity: $493.33

Like a plane crash, any week of trading you can walk away from and come back the next week..., is a good week.

We ended up with 6 losses out of our 7 trades. It would have been nicer if the ratio was reversed, but you get the results the market gives you. And then you take the trades again the next week.

This week's Alpha account trading recap:
Start of week equity: $514.88

Completed FirstStrike trades:

EUR/USD: Long @ 1.4727, Exit on Friday at 15:00 CST: 73 pip profit.
GBP/JPY: Short@ 209.53, -stopped out 60 pips loss
GBP/USD: Long @ 1.9816, -stopped out 60 pips loss
USD/CHF: Short@ 1.0886, -stopped out 58 pips loss
USD/JPY: Long @ 106.75, -stopped out 59 pips loss

Total of 237 pips in losses
Total of 73 pips in profits
OneNightStand Exit(s) on 01/28/07 :
OneNightStand 02/01/08 entries:
eud/usd: BUY 1.4916, stop 1.4861. Stopped out for 55 pips loss.
usd/chf: SELL 1.0757, stop 1.0812. Stopped out for 55 pips loss.
Total losses:  (110 pips)
End of week equity: $ 493.33 (includes unrealized P&L)
Total Gain on Week: $ (21.55)(4.2% decrease)
Unrealized P&L: $ 00.00

See you Monday!

Joel Rensink

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: and tell me which address you would like it sent.

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