Monday, February 25, 2008

Gbp/Jpy first to lose again! -IFCN Wk 12 -Mon- Equity: $479.34

A very quiet start to our week. I exited Friday's short Usd/Chf OneNightStand trade for a 8 pip loss on Monday's open.

We've gotten 2 entries early Monday and are still live on one of them, and waiting for direction in the other pairs.
Gbp/Jpy: Short @ 210.64, stopped out @ 211.24 for a 60 pip loss.
Usd/Jpy: Long @ 107.91, stop 107.31. Currently holding a small profit....
=====Any FirstStrike trade not stopped out before Friday gets exited on Friday just before 15:00 CST.=====

Not much to report, and very little news out there except about the Presidential race, which is not much use to forex traders at this time. Maybe later in the cycle when it gets more certain who will be in the running.

We'll see what the markets will bring this morning. Current equity stands at $479.34.

Joel Rensink

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