Monday, May 5, 2008

Monday Blues! IFCN Wk 22 -Mon- Equity: $700.60

Again it is Monday, and again the markets are far from definitive as to what 
their weekly course will be.

OneNightStand trades exited this morning at 00:01 CST-
  • Usd/Chf: long on Friday @ 1.0510, exited at 1.0541 for a total trade profit of 31 pips
  • Usd/Jpy: long on Friday @ 104.91, exited at 1.5.21 for a total trade profit of 30 pips
Nice to see some profits in the ONS group.

Finally all 5 of the FirstStrike trades got entered today, and after a quick loss- only 4 remain.

2 trades have small profits as I write this, the Sterling pairs: Short the Gbp/Usd and short Gbp/Jpy.

The following are our 5 FirstStrike entries:
  • Eur/Usd: long @ 1.5508, stop 1.5448.
  • Gbp/Jpy: short @ 207.09, stop 207.99.
  • Gbp/Usd: short @ 1.9706, stop 1.9766.
  • Usd/Chf: long@ 1.0592, stopped out at 1.0532 for 60 pip loss
  • Usd/Jpy: short @ 104.69, stop 105.29.

Any FirstStrike trade not stopped out before Friday gets exited on Friday just before 15:00 CST.

I'm not overwhelmed by the prospects of the current FirstStrike trades, but there is a long week ahead and much can happen.   I've been surprised many times what can transpire in just a couple trades.

Current equity is $700.60.

Joel Rensink

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