Wednesday, April 15, 2009

Apr. 6 – Apr. 13 Update - IFCN WK 71 - Mon- $2,762.05

There were no OneNightStand trades on Friday, Apr. 10. Friday was a holiday in the USA and some places in Europe. The forex markets were open, but with slightly higher bid/ask spreads than usual. Still, there were no trades executed, of which I was glad. Funny things (usually not good) can happen on quasi-holiday trading.

On Monday April 13, 2009 at 00:00 AM CST I exited my short Eur/Usd and Gbp/Usd, and long Usd/Chf positions from the week's FSP trades. The trade prices are shown below.

Week of April 6, 2009---FirststrikePlus trade executions:

  • eur/usd: Short @ 1.3441, exited at 1.3171 for 270 pips profit.
  • gbp/jpy: Short @146.66, stop 149.15.
  • gbp/usd: Short @1.4712, exited at 1.4666 for 46 pips profit.
  • usd/chf: Long @1.1339, exited at 1.1565 for 226 pips profit.
  • usd/jpy: Short @ 99.51, stop 101.12.

OneNightStand trades executed Friday, April 10, 2009:

Trading account equity: $ 2,130.05
Gain from previous week: $ 86.93

Silver position equity: $ 632.00
(Current XAG price: $12.53 – 400 unit position average: $10.95)
TOTAL Equity: $ 2,762.05

It is nice to see that we had a small but definite gain from the forex trading side, and virtually unchanged equity position from the XAG (silver) side. Perhaps silver is taking a rest before beginning a move back above $13.00.

The market is setting up perfectly for some bigger moves this week. It is mostly a matter of putting in the orders. AND-- putting on the appropriate position sizes.

I'm looking forward to this week.

Joel Rensink

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