Dollar gets Stronger, Market Turmoil still causes losses!-- IFCN Wk 20 -Fri- Equity: $743.53

The dollar gained quite a bit this week as expected. Too bad our initial gains evaporated.

NOTE: I am getting a lot of bouncing emails from Yahoo addresses, and those similar to them. If you are not getting emails from:
..., that is why.

Here is the recap of our trading week--

The data below is as of Friday's close, April 25, 2008:

We had one OneNightStand trade executed on Friday. We went long Usd/Jpy @ 104.66 with a 100 pip stop at 103.66. It did not get hit, so we will exit on Monday morning @ 00:01 CST.

Start of week equity: $ 747.51

Completed FirstStrike trades:

• Eur/Usd: long @ 1.5883, stopped out @ 1.5823 for a 60 pip loss.
  
• Gbp/Jpy: short @ 206.91, exited Friday @ 207.00 for 9 pip loss.
  
• Gbp/Usd: short @ 1.9958, exited Friday @ 1.9815 for 143 pip profit.
  
• Usd/Chf: short @ 1.0120, stopped out @ 1.0180 for a 60 pip loss.
  
• Usd/Jpy: short @ 103.31, stopped out @ 103.91 for a 60 pip loss.
  

Total of 189 pips in losses.
Total of 143 pips in profits.
Net loss: 46 pips (Due to different position sizes on the different pairs, the actual net gain/loss this week was close to a wash.)

OneNightStand Exit(s) on 04/2108:
-None-
OneNightStand 04/25/08 entries:
Usd/Jpy: long @ 104.66 with stoploss @ 103.66. Since the trade was not stopped out on the day of entry (Friday) it will be exited for a profit or loss Monday 00:01 CST. Current loss @ Friday close: 23 pips.

Total Unrealized Loss: $ 1.88
End of week equity: $ 743.53 (includes unrealized P&L)
Total Loss for Week: $ 3.98 (.5% weekly decrease)

A pretty flat week. It 's too bad that we had such great profits at the beginning of the week and gave up most of them. At least we held the loss to less than a percent for the week.

Here's to next week.

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. Please do not use AOL, Hotmail or Yahoo addresses. Nothing personal, but they've been known to filter out more good mail than actual spam. Try a Gmail address. It's free, simple and perfect for traders!