Monday, February 18, 2008

Week starts out with small gains -- IFCN Wk 11 -Mon- Equity: $517.10

The weather is cold but clear here in Minnesota, but the markets are getting interesting.

Even though the US market was observing President's day today, FirstStrike trades went off as usual due to continuing trade and news releases in Europe.

We got 5 quick entries early this morning and are still live on all of them, with a standing loss in only one pair, the Eud/Usd.
Eur/Usd: short @ 1.4631, stop 1.4691.
Gbp/Jpy: short @ 211.14, stop 211.74.
Gbp/Usd: short @ 1.9575, stop 1.9635.
Usd/Chf: long @ 1.0995, stop 1.0935.
Usd/Jpy: long @ 108.30, stop 107.70.
-----Any FirstStrike trade not stopped out before Friday gets exited on Friday just before 15:00 CST.
(NOTE-- as a reference to the momentum phenomena discussion last week; all of the above entries have achieved at least 20 pips profit or greater since entry..., the Gbp/Usd over 100 pips profit at one point.)

At last glance, total equity-- including unrealized gains from the 4 FirstStrike trades showing profits-- is $517.10.

May your week be a good one.

Joel Rensink

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