Groucho Marx
Markets like this last week make you think that you might have to live forever to finally catch a big move. Markets are very patient. You must be too.
Here's the week's recap:
The data below is as of Friday's close, July 11, 2008:
Start of week equity: $ 729.65.
OneNightStand Exit(s) on 06/14/08 :
Exited the long Eur/Usd OneNightStand trade from Friday – in @ 1.5911, out at 1.5898.
A loss of 13 pips (-$ .95).
Completed FirstStrike trades this week:
- Eur/Usd: Sold @ 1.5848, stopped out at 1.5908 for a 60 pip loss.
- Gbp/Jpy: Long @ 212.11, stopped out at 211.21 for a 90 pip loss.
- Gbp/Usd: Long @ 1.9906. Trade exited Friday at 1.9984 for 78 pip profit
- Usd/Chf: Long @ 1.0240, stopped out at 1.0180 for a 60 pip loss.
- Usd/Jpy: Sold @ 105.95, stopped out at 106.55 for a 60 pip loss.
Total profits: 78 pips
Net losses: 192 pips (-$19.84)
OneNightStand 07/18/08 entry(s)
*Gbp/Jpy: long @ 213.64. To be exited Monday morning, 00:00 CST.
Unrealized Profits: $ .20
End of week equity: $709.06.(includes unrealized P&L)
Total Loss for Week: $ 20.59 (2.8% weekly decrease)
This was a choppy trading week.
Some week soon we will have an intense move or two. Or three. I'll keep on putting in the orders.
Have a good night.
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. 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!
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