Sunday, August 31, 2008

When It Rains It Pours! 103.8% Return! --IFCN Wk 39 -Mon- Equity: $1,019.22.

When OneNightStand trades work, they really work!

This morning after midnight, I exited Friday's two ONS trades, the 2 shorts: Gbp/Usd and Gbp/Jpy. Again like last week, OneNightStand performed admirably with very large profits, especially in the Gbp/Jpy. Exiting at midnight again captured most of the profits possible from holding over the weekend.

You can see why taking OneNightStand trades are a habit I've loved for years.

OneNightStand- 08/29/08 entries:
Trades below exited this morning, 09/01/08, after midnight--
*Gbp/Usd: Short @ 1.8239 – Exited at 1.8031 for 208 pips profit.
*Gbp/Jpy: Short @ 199.60 – Exited at 1.9568 for 392 pips profit.
Total Profits: $ 52.19. (Increase of $40.39 from Friday's close)

After exiting the OneNightStand trades, I placed the week's FirstStrike orders.

At present none of the FirstStrike trades have been executed.

It will be interesting to see if we get any profitable moves this week since just a few of our regular FirstStrike trades have been profitable over the past few weeks. Eventually a few more should kick in.

At some point you would think a correction to the dollar move might commence. We saw a bit of a strength in the yen last week in the short Usd/Jpy trade.

The dollar has definitely taken over the limelight in the currency world. Maybe a correction is overdue.

Current equity is $1,019.22.

That is a 103.8% absolute return on equity since the start of this site. (140% annualized) This is much greater than I was initially shooting for, but I will happily take it. Early success like this can shave a year or two off the target term. Since I support making whatever additional return is available to me as it becomes available, I appreciate every bonus that comes along.

More OneNightStand trades like today are welcome.

Joel Rensink

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The Archiphage said...

Yeah!! When I peeked into the account Sunday evening, that was a very nice sight to see... and it only got better as the evening wore on! I got very nearly the 600 pips that you did. I managed to increase my equity by 19.94% for the week. By my calculations you got just over 25% for the same period thanks to your work in the Yen. I'm going to call that all good, since I got a very nice result *and* some valuable insight into how to take advantage of situations by watching how you worked the JPY this week.
I've been wondering when the greenback will retrace too. I figure it's gotta happen sometime, but I'm of course only going to react to what is happening... not what I think should be happening. I do notice that we've triggered into 2 short-dollar trades already. Maybe this is the week. I'm very curious to see what happens in EUR. Will 1.4571 hold up as the low for a while? We may find out very soon...
Thanks again Joel for all of the ideas and insights. I love this game!

Joel said...


Congratulations! I knew some others had a good week besides me. I'm glad you were one of them.

Those OneNightStand trades were a great end of last week and a great start of this one.

Have a good week! Perhaps the dollar is starting to lose momentum.

Thanks for the comment.