End of Week Recap.... -IFCN Wk 45 – Fri – $1,207.10

This is the last week we will be reporting on regular FirstStrike trades. (Fixed 50 pip breakouts above/below the week's open) Next week we will be using FirstStrike Plus, a volatility-responsive FirstStrike model.

Here's last week's Friday recap:

The data below is as of Friday's close, Oct. 17, 2008:

Start of week equity: $1,205.35

OneNightStand Exit(s) on 10/13/08 :
10/10/08 Eur/Usd short @ 1.3442 exited at 1.3522 Monday for an 80 pip loss.
($12.23 total equity loss from Friday.)

Completed FirstStrike trades this week:

• Eur/Usd: Long @ 1.3623, stopped out at 1.3503 for a 120 pip loss.
• Gbp/Jpy: Long @ 171.74, exited at 176.05 for 431 pip profit
• Gbp/Usd: Long @ 1.7119, exited at 1.7320 for 201 pip profit
• Usd/Chf: Short @ 1.1258, stopped out at 1.1378 for a 120 pip loss.
• Usd/Jpy: Long @ 101.02, stopped out at 99.82 for a 120 pip loss.

Total losses: 360 pips
Total profits: 632 pips
Net profit: 272 pips ($24.98+)

OneNightStand 08/17/08 entry(s):
*None--

Current trade equity is: $ 1,218.10

Special Silver long position:
Silver position equity: (-$11.00 )
(Current XAG price: $9.39 – 100 unit position average: $9.50)
(Weekly total XAG position equity gain: (-$11.00)

WEEK'S TOTAL EQUITY: $ 1,207.10
Total Gain for Week: $ 1.75
(0.1% weekly increase)

I'm getting ready for next week's start of FirstStrike Plus. The trading methodology should be better able to profit when weekly volatility is excessive -- as we are currently experiencing. As I mentioned a week ago, I had originally planned on releasing it after the first year anniversary of the IFCN trading challenge. Since the markets are dealing us their toughest, it is best to advance to meet it with the best tools.

The potential for profit is better too. Persevere through the wild rides the dollar is providing right now. The crazy moves can't last forever, even though it seems like it when you're in the market.

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!