Friday, January 16, 2009

Holiday Recap-- Solid Gains Despite Quivering Market Action.

Here is the recap of the trades I've taken through the last few weeks while I took my break from writing.

It was great having a little break, but since the markets were still moving, I kept placing the FirstStrike and ONS trades. With quite satisfying results. Nothing spectacular mind you, but a decent increase even with XAG (silver) prices declining somewhat during the period.

The last couple of weeks of 2008, I traded smaller size because the markets get very dodgy and prone to thrusts and parries that can stop you out unnecessarily. This was most obvious the week starting December 29, 2008. Everything that week that got entered was stopped out.

Not surprising with the breakout ranges that week being the smallest in almost a year.

start $1,928.48 w/XAG
Dec 15, 2008---Firststrike
long eur/usd @ 1.3676, exited at 1.4011 for 335 pip profit
short gbp/jpy@ 133.04, stopped at 138.23 for 519 pip loss
long gbp/jpy@ 139.23, stopped at 135.91 for 335 pip loss
long gbp/usd@ 1.5173, stopped at 1.4993 for 180 pip loss
short usd/chf @ 1.1582, exited at 1.0983 for 599 pip profit
OneNightStand orders for Friday, Dec. 19, 2008.
short gbp/jpy @132.47, stopped at 133.47 for 100 pip loss.
start $2,042.48 w/XAG
Dec. 22, 2008---Firststrike
short gbp/jpy @ 132.11, stopped at 133.69 for 158 pip loss.
short gbp/usd from 1.4657, stopped at 1.4789 for 132 pip loss.
short usd/jpy @89.21, stopped at 90.99 for 178 pip loss.
OneNightStand orders for Friday, Dec. 26, 2008.
short gbp/usd @ 1.4659, exited Monday at1.4721 for 62 pip loss
start $1,974.53 w/XAG
Dec. 29, 2008---Firststrike
long eur/usd @ 1.4237, stopped at 1.4148 for 89 pip loss.
long gbp/jpy@ 133.69, stopped at 132.72 for 97 pip loss.
long gbp/usd@ 1.4789, stopped at 1.4656 for 134 pip loss.
short usd/chf @ 1.0481, stopped at 1.0625 for 144 pip loss.
long usd/jpy @ 90.99, stopped at 90.41 for 58 pip loss.
OneNightStand orders for Friday, Jan. 2, 2009. -NONE
start $2,088.13 w/XAG
Jan. 5, 2009---Firststrike
short eur/usd @ 1.3737, exited at 1.3411 for 326 pip profit
long gbp/jpy @ 134.63, exited at 136.12 for 149 pip profit
long gbp/usd @ 1.4617, exited at 1.5101 for 484 pip profit
long usd/chf @ 1.0927, exited at 1.1165 for 238 pip profit
long usd/jpy @ 92.80, stopped at 91.73 for 107 pips loss
OneNightStand orders for Friday, Jan. 9, 2009. -None

That brings us up to the current week, which will follow directly.

Some of you have contacted me about your great successes in December. Many of you made substantially larger returns than I did. Congratulations on your efforts.

Joel Rensink

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: 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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