Monday, March 3, 2008

One Night Stand works as billed! -IFCN Wk 13 -Mon- Equity: $627.48

After the high flying week last week, the weekend served to push our OneNightStand trades even further. Which is the idea behind the robust trade concept.

By our exit time on Monday morning @ 00:00 CST/ 01:00 EST/ 06:00 GMT, we achieved the following results:

OneNightStand 02/29/08 entries held over the weekend:

gbp/jpy: Sold @ 207.94, exit @ 204.61 for 333 pips profit
usd/chf: Sold @ 1.0484, exit @ 1.0339 for 145 pips profit
usd/jpy: Sold @ 104.57, exit @ 103.08 for 149 pips profit

After exiting our OneNightStand trades, our equity stood at $658.09.

Then my FirstStrike orders were placed.

Within a very short time I was positioned as follows, and promptly stopped out:
  • Eur/Usd: Short @ 1.5162, stopped out for 60 pip loss
  • Gbp/Jpy: Short @ 204.25, stopped out for 70 pip loss (10 pip error in order entry- See, I make errors too!)
  • Gbp/Usd: Short @ 1.9808, stopped out for 60 pip loss
  • Usd/Chf: Long @ 1.0392, stopped out for 60 pip loss
  • Usd/Jpy: Short @ 102.66, stopped out for 60 pip loss
After exiting our OneNightStand trades, our equity stood at $627.48.

So there is the week already. It will be interesting if the trend from last week continues much further. It was truly spectacular. Perhaps it will take a breather this week. As you can see by watching the market action after getting stopped out of the first FirstStrike trades, if one took the reverse trades the results would have been less than spectacular.

This is probably a good week to stand on the sidelines.

Have a good evening.

Joel Rensink

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