Sunday, November 2, 2008

Pretty Good Week! -IFCN Wk 47 – Fri- $1,558.01

Not too bad! I thought a number of times that this week might not be so good, but finally the XAG (silver) position helped push up the weekly numbers. There may be more of that in the future too.

Here's last week's Friday recap:

The data below is as of Friday's close, Oct. 31, 2008:

Start of week equity: $1,428.36
OneNightStand Exit(s) on 10/27/08 :
*eur/usd: Short @1.2728, out at 1.2566 for 162 pips profit
*gbp/jpy: Short @152.82, out at 147.20 for 562 pips profit
*gbp/usd: Short @1.6029, out at 1.5717 for 312 pips profit
*usd/jpy: Short @95.33, out at 93.59 for 174 pips profit
Total ONS Profits: $ 84.70
(Total increase from Friday's equity: $45.50)

FirstStrike Plus trades this week:
  • Eur/Usd: Long @ 1.2903, stop 1.2489. Trade in progress.
  • Gbp/Jpy: Long @ 159.69, stop 143.62. Trade in progress.
  • Gbp/Usd: Long @ 1.6412, stop 1.5510. Trade in progress.
  • Usd/Chf: Short @ 1.1479, out at 1.1650 for 171 pip loss.
  • Usd/Jpy: Long @ 97.26, stop 92.64. Trade in progress.
FirstStrikePlus trades will be exited on Mondays at 00:00 CST if profitable. (First-Profitable-Open Exit) If not exited will be held until profitable on a subsequent Monday's open, stopped out or reversed by next week's positions.

Actual Losses: 171 pips
Current Position Losses: 593 pips
Current Position Profits: 124 pips
Current FSP equity: (-$20.85)

OneNightStand 10/31/08 entry(s):
-None- (Thank goodness!)

Current trade equity is: $ 1,453.01

Special Silver long position:
Silver position equity: $80.00
(Current XAG price: $9.80 – 200 unit position average: $9.40)
Weekly total XAG position equity gain: (+$105.00)

Total Gain for Week: $ 129.65
(9.0 % weekly increase)

This was a good week considering the high volatility we've had to deal with. I wouldn't be surprised if we get profits out of most of the remaining FirstStrike Plus trades.

The Las Vegas London Squeeze workshop on Nov. 1st was a great success! All 11 who attended were exceptional people and I've no doubt will be able to improve their trading results. Just in time. The “Magnificent Seven” -the original class who learned the method- have reported strong gains recently. The diversified markets that we're seeing after the plunges have been exploited handily by London Squeeze.

Have a good next week.

Joel Rensink

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