Monday, February 2, 2009

Another New Equity High - IFCN Wk 61 –Mon- Equity: $2,659.74

We are doing something right.

On Friday we closed very strong in our positions in XAG (silver), and FirstStrike Plus positions of gbp/jpy and gbp/usd. By Monday morning, the prices were much less favorable, but still favorable enough in the Sterling pairs to take decent profits.

Last week the long FSP eur/usd was a disappointment bringing a loss early last Friday. By Friday, we had significant losses in the short usd/chf and the long usd/jpy pairs too. That is what one can expect after a large, profitable week like the previous one.

Maybe we will start to get some basing action in these currencies and some strength vs. the dollar. It is a long week until the monthly Employment report this Friday.


As of Monday, February 2, 00:00 CST – here is the status of the following trades coming in from the previous week:

Week of January 26, 2009---FirststrikePlus trades
gbp/usd: Long @ 1.4024, exited at 1.4411 for 387 pip profit.
eur/usd: Long @ 1.3096, stopped at 1.2867 for 229 pip loss.
gbp/jpy: Long @125.99, exited at 129.23 for 324 pip profit
usd/chf: Short @ 1.1450, stop 1.1674. Trade in progress.
usd/jpy: Long @ 90.09, stop 88.97. Trade in progress.
OneNightStand trades for Friday, January 30, 2009

Trading account equity: $2,047.74
Loss from previous week: $25.18

Silver position equity: $612.00
(Current XAG price: $12.46 – 200 unit position average: $9.40)
TOTAL Equity: $2,659.74

Looking forward to another week.

Joel Rensink

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