The Asian session began with the pound losing ground while at the same time the euro was gaining ground on the dollar. Then there was a quick larger move right before the European session began with the dollar losing ground. From that point, the euro retreated, but the pound continued to gain substantial ground.
The pound then reversed on itself again about 6:30 AM and fell substantially, giving up most of its gains. Then mid morning, it reversed again, then again right before the market closed at 12:00 noon EST.
Remember what I said yesterday about predictability? It's hard to find patterns when things are going in all different directions, especially when the markets are not in sync.
Nonetheless, I'm committed to this like no one else. It goes with the territory. Trading is not for everyone, but I love it.
Despite all my best efforts, the last day of the year came on a down note. The key difference was the 3 open trades from yesterday, two of which got closed out in losses. I did 31 new trades today, closing 24 winners including 1 from yesterday, and 9 losses including the other 2 from yesterday. This time, the net pips for today is a +4.5 pips, but a net loss of -1.30%. The losses from yesterday did most of the damage.
For the week, the net pips is -212.4 pips, or -0.50% loss.
I don't have the final numbers for the month compiled yet, but instead of a small gain, it will be a small loss. December was very volatile.
Here are the daily stats for Thursday, December 31, 2009.
Open | High | Low | Close | Pip Interval |
GBP/USD | 1.6075 | 1.6233 | 1.6048 | 1.6159 | 185 |
EUR/USD | 1.4337 | 1.4439 | 1.4305 | 1.4324 | 134 |
USD/CHF | 1.0365 | 1.0384 | 1.0285 | 1.0353 | 99 |
USD/JPY | 92.40 | 93.09 | 91.90 | 93.08 | 119 |
GBP/JPY | 148.55 | 150.65 | 148.23 | 150.42 | 242 |
I did finally hear something about the Thanksgiving mess. The owner of Summerstreet has the audit report on his desk, but was not in the office this week. We'll see what kind of resolution is offered.
I will work on getting out December statements, this weekend hopefully.
Happy New Year! January will be better!
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com