Sunday, June 15, 2008

Successful Week buying the Dollar!--IFCN Wk 27 -Fri- Equity: $785.05

Four OneNightStand trades (listed below) were executed on Friday. None were stopped out on Friday, so they all have been held over for exit early Monday morning right after midnight.

Three FirstStrike trades were exited Friday just before 15:00 CST.

Here's this week's recap:

The data below is as of Friday's close, June 13, 2008:

Start of week equity: $709.31

OneNightStand Exit(s) on 06/09/08:
None

Completed FirstStrike trades this week:
  • Eur/Usd: long @ 1.5830, stopped out at 1.5770 for a 60 pip loss.
  • Eur/Usd: short @ 1.5730, exited Friday @ 1.5353 for 377 pips profit.
  • Gbp/Jpy: long @ 208.18, exited Friday @ 210.71 for 253 pips profit.
  • Gbp/Usd: long @ 1.9742, stopped out at 1.9682 for a 60 pip loss.
  • Gbp/Usd: short @ 1.9642, stopped out at 1.9642 for a breakeven trade.
  • Usd/Chf: short @ 1.0160, stopped out at 1.0220 for a 60 pip loss.
  • Usd/Jpy: long @ 105.83, exited Friday @ 108.19 for 236 pips profit.
Total losses: 180 pips
Total profits: 866 pips
Net profits: 686 pips

OneNightStand 06/13/08 entry(s):
-Eur/Usd: short @ 1.5365
-Gbp/Jpy: long @ 210.76
-Gbp/Usd: short @ 1.9433
-Usd/Jpy: long @ 108.10

Unrealized Profits: $2.25
End of week equity: $785.05 (includes unrealized P&L)
Total Gain for Week: $75.74 (10.6% weekly increase)

This was a good week. The FirstStrike trades worked very well.

See you 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!

3 comments:

William said...

I have a question regarding the EUR/USD and the GBP/USD First strike trades......
I thought the First Strike trades entered were OCO.
yet the EUR/USD and the GBP/USD were left to let the opposing trades be executed. Nice to see it was profitable however.

So instead of having the entry cancel the opposing trade would it be a good strategy to leave the opposing trade open for these reversals?

David said...

Hi Joel,

Im a subscriber and I wanna ask u something.

why u take short and long positions in EurUsd ?

I thought that they were OCO orders.

Greets,
David
p.d sorry for my english

Joel said...

You will get the answer to your questions by reading the post for Tuesday last week. Follow this link:

http://infiniteyieldforex.blogspot.com/2008/06/dollar-isnt-as-weak-as-they-thought.html

Thanks for reading the site.

Joel