Thursday, April 9, 2009

Corrective Week! Thu - Apr. 9, 2009 - Equity $2,733.35

It is a short week due to the Easter/Passover religious holidays. Nevertheless, the FSP trades triggered definitely.

Despite the likelihood of this week's trades being corrective in nature, they've been profitable as a group.

This week's FirstStrikePlus trades:
  • eur/usd: Short @ 1.3441, stop 1.3602.
  • gbp/jpy: Short @146.66, stop 151.92.
  • gbp/usd: Short @1.4712, stop 1.5007.
  • usd/chf: Long @1.1339, stop 1.1238.
  • usd/jpy: Short @ 99.51, stop 101.28.
XAG price: $12.35

Total Equity: $2,733.35

I just take the trades even if they turn out to be corrections. FirstStrike and ONS have decent edges per trade despite the overall trend.

There is a holiday this Friday in the US, but as we know, the rest of the world is still able to trade. I am still going to put in OneNightStand trades, even though a couple of the markets (like Gbp/Jpy and Gbp/Usd) have larger than normal spreads. The wider spreads are telling you, "There is greater-than-average risk in the market!"

It is always advisable to be cautious when trading on holidays. It is completely okay to trade half size or smaller to contain potential risks.

Have a good holiday weekend.

Joel Rensink

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