Monday, August 25, 2008

Attempted Reversal Week!--IFCN Wk 38 -Mon- Equity: $803.58.

At least the beginning of the week was a small triumph.

This morning at 00:00 CST, I exited Friday's only ONS trade, short the Gbp/Usd. This time OneNightStand performed the way I expect it to, with a generous profit. Exiting at midnight garnered most of the profit possible from holding over the weekend.

A great performance.

- 08/22/08 entry:
Trade below exited this morning, 08/25/08, after midnight--
*Gbp/Usd: Short @ 1.8511 – Exited at 1.8420 for 91 pips profit.
Total Profit: $ 7.76.

After exiting the Sterling trade, I placed the week's FirstStrike orders.

By morning all were executed and had decent profits. Those profits have diminished and 2 of the five trades have been stopped out as you will see below.

This week's FirstStrike entries:

  • Eur/Usd: Long @ 1.4767, stopped out at 1.4707.
  • Gbp/Jpy: Long @ 203.61, stopped out at 202.71.
  • Gbp/Usd: Long @ 1.8471, stop 1.8411.
  • Usd/Chf: Short @ 1.0962, stop 1.1022.
  • Usd/Jpy: Short @ 109.63, stop 110.23.
Any FirstStrike trade not stopped out before Friday-- exits on Friday just before 15:00 CST.

It would be great if we could get a snap-back on some of these currencies. Time will tell.

The dollar is obviously still incredibly strong.

See you tomorrow.

Current equity is $803.58.

Joel Rensink

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1 comment:

The Archiphage said...

Whew! No luck so far on any anti-dollar bets! Right now the only thing I think I can say against the greenback is that it doesn't look as strong against the Yen as it does against the others. Probably because US equities are getting beat up again. Still, there have been some very nice tradeable moves this week even if F/S is taking one of its routine beatings. And it's only Tuesday!