Sunday, April 20, 2008

-- IFCN Wk 19 -Fri- Equity: $747.51

All the news released this week tends to indicate that there is a lot of demand for dollar denominated products manufactured in America and its possessions. The export boom that US manufacturers are enjoying is continuing at a greater pace for companies like Caterpillar Inc., Terex Corp, and the U.S. unit of Siemens Corp.

Don't be surprised if the dollar gains a little strength in the near future.

Here is the recap of our trading week--

The data below is as of Friday's close, April 18, 2008:

We had no OneNightStand trades executed on Friday.

Start of week equity: $ 759.67

Completed FirstStrike trades:
  • Eur/Usd: long @ 1.5757, exited Friday @ 1.5807 for 50 pip profit.
  • Gbp/Jpy: short @ 198.19, stopped out @ 199.09 for a 90 pip loss.
  • Gbp/Usd: long @ 1.9764, stopped out @ 1.9704 for a 60 pip loss.
  • Usd/Chf: short @ .9987, stopped out @ 1.0047 for a 60 pip loss.
  • Usd/Jpy: short @ 100.41, stopped out @ 101.01 for a 60 pip loss.
Total of 270 pips in losses.
Total of 50 pips in profits.
Net loss: 220 pips

OneNightStand Exit(s) on 04/14/08:
OneNightStand 04/18/08 entries:

Unrealized P&L: $ 0.00
End of week equity: $ 747.51 (includes unrealized P&L)
Total Loss on Week: $ 12.16 (1.6% weekly decrease)

Another moderate losing week. These drawdowns seem to last awhile when you are enduring them.

We will endure.

Joel Rensink

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